MarineMax Q2 Revenue at $527M; Gross Margin Up 440bps, EPS Slides to $0.04
MarineMax posted Q2 revenue of $527 million and saw same-store sales slip 15%, while gross margin rose 440 basis points to 34.4%. Adjusted EBITDA declined to $23.9 million, adjusted EPS fell to $0.04, and the company maintained guidance of $110 million–$125 million EBITDA and $0.40–$0.95 EPS.
1. Q2 Financial Performance
MarineMax generated $527 million in Q2 revenue, marking a 15% decline in same-store sales, while gross margin expanded by 440 basis points to 34.4%. Adjusted EBITDA fell to $23.9 million from $30.9 million year-over-year and adjusted EPS dropped to $0.04 from $0.24.
2. Balance Sheet Strength
The company held $189 million in cash at quarter end and reduced inventories by approximately $130 million to $845 million. Customer deposits rose to $62 million and interest expense declined by over $3.5 million.
3. Segment and Technology Performance
Higher-margin operations including finance and insurance, parts and service, brokerage, Superyacht services and marinas drove margin stability. Technology investments boosted Boatyard subscribers by 47%, enhancing customer engagement.
4. Fiscal 2026 Outlook
MarineMax reaffirmed full-year guidance with adjusted EBITDA projected at $110 million to $125 million and adjusted net income per diluted share forecast between $0.40 and $0.95, citing stronger second-half comparisons.