MarineMax, a major US-based marina operator, superyacht services company and boat and yacht retailer, reported a net loss of $8.2m on revenue of $2.2bn for the year ended 30 September 2026. Its fourth-quarter loss widened to $13m from $0.9m a year earlier as boat sales fell and the pending takeover by Safe Harbor Marinas added to costs.
In August 2026, MarineMax agreed a $1.5bn sale to Safe Harbor Marinas, a marina and superyacht service business owned by Blackstone Infrastructure. Under the agreement, Safe Harbor will acquire all issued and outstanding shares of MarineMax common stock for $53 per share in cash.
MarineMax Q4 and full-year 2026 results
For the full year, same-store sales fell 5.5 per cent, while gross margin rose 2.4 percentage points to 34.9 per cent. The annual loss came to $0.37 per share. On an adjusted basis, MarineMax earned $0.58 per diluted share and reported adjusted EBITDA of $112.6m.
Fourth-quarter revenue fell to $520.1m from $552.2m a year earlier. Growth in the marina business and in parts and service made up for some of the decline in boat sales. Same-store sales fell 5.7 per cent.
Gross profit rose to $194.3m from $191.4m a year earlier, taking the quarterly gross margin to 37.4 per cent from 34.7 per cent. MarineMax says the boats it sold were more profitable and its higher-margin businesses accounted for a larger share of revenue.
Chief executive statement
“Fiscal 2026 demonstrated the strength of MarineMax’s diversified business model and the benefits of our strategic investments to broaden our marine offerings and expand our presence in durable, higher-margin businesses,” says Brett McGill, CEO and president of MarineMax. “Despite a challenging retail environment, contributions from across our portfolio helped offset market pressures, underscoring the value of our diversification strategy.
“Since 2019, we have expanded our higher-margin, non-boat revenue streams, contributing to a significant improvement in gross margin from 26.1 per cent in fiscal 2019 to 34.9 per cent in fiscal 2026. I want to thank our team members, whose continued dedication and commitment to our customers have made these results possible.
“Our previously announced agreement to be acquired by Safe Harbor represents an important milestone for MarineMax and reflects the value we have created by building a broader and more diversified marine business,” McGill adds. “The combination of our complementary businesses will create opportunities to improve our offerings, deepen customer and industry relationships, and support continued growth. As we move toward completing the transaction, we remain focused on serving our customers, supporting our partners, and executing our strategic priorities across the business.”
Takeover costs accounted for most of the rise in quarterly selling, general and administrative expenses, which reached $196.1m compared with $177.6m a year earlier. On an adjusted basis, these expenses rose 1.8 per cent to $181.1m. Interest expense fell to $13.2m from $17.3m.
The quarterly loss came to $0.59 per share, up from $0.04 a year earlier. The adjusted net loss widened to $1.8m, or $0.08 per share, from $1.1m, or $0.05 per share. Adjusted EBITDA rose 26 per cent to $21.8m from $17.3m.
MarineMax ended the year with $812.8m in inventory, down 6.3 per cent from $867.3m a year earlier. This followed a $39.3m reduction the previous year. Cash and cash equivalents fell to $156.4m from $170.4m.
The MarineMax board unanimously approved the Safe Harbor takeover and the company expects it to close by the end of 2026, subject to shareholder approval and other closing conditions.
With the deal pending, MarineMax will not hold a call to discuss its results and does not plan to issue guidance for the 2027 financial year.
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