MarineMax reported fiscal second-quarter revenue of $527.4 million, down from $631.5 million a year earlier, as lower boat sales weighed on results.
Gross profit fell to $181.3 million from $189.5 million, but gross margin widened to 34.4% from 30.0%, a gain of 440 basis points.
Same-store sales dropped 15% in the quarter, reversing an 11% increase in the prior-year period.
Selling, general and administrative expenses rose to $170.4 million from $166.8 million, while adjusted SG&A increased to $165.8 million from $163.8 million.
Interest expense declined to $14.7 million from $18.2 million, helped by lower interest rates and reduced inventory levels.
The company posted a net loss of $2.6 million, or $0.12 per share, compared with net income of $3.3 million, or $0.14 per diluted share, a year earlier. Adjusted net income fell to $0.9 million from $5.5 million, or to $0.04 per diluted share from $0.24.
Adjusted EBITDA came in at $23.9 million, down from $30.9 million in the prior-year quarter.
Cash and cash equivalents were $189.1 million at quarter end, up from $170.4 million at the end of fiscal 2025, but below the $203.5 million level a year earlier.
Inventories totaled $845.4 million, down $128.0 million from $973.4 million a year earlier.
MarineMax reaffirmed fiscal 2026 guidance for adjusted EBITDA of $110 million to $125 million and adjusted net income of $0.40 to $0.95 per diluted share. The market has reacted to these announcements by moving the company's shares 2.35% to a price of $26.51. If you want to know more, read the company's complete 8-K report here.
