MarineMax Q3 revenue, adjusted EPS miss estimates
HZO•Outlook and margin drivers
MarineMax reaffirmed its fiscal 2026 adjusted EBITDA guidance of $110 mln to $125 mln and maintained its fiscal 2026 adjusted net income guidance of $0.40 to $0.95 per diluted share.
The company said consumer demand remains cautious, but industry inventory levels are normalizing.
Results were helped by higher-margin businesses, including superyacht services, marinas, finance and insurance, and parts and service. Improved margins on new and used boats also contributed to gross margin expansion. Gross margin benefited by about 110 basis points from a tariff refund, mostly related to earlier boat sales.
Analyst coverage and valuation
The current average analyst rating on the shares is "buy," with 5 "strong buy" or "buy" ratings, 3 "hold" ratings and no "sell" or "strong sell" ratings.
The average consensus recommendation for the recreational products peer group is "buy."
Wall Street's median 12-month price target for MarineMax Inc is $35.00, about 6.3% above its July 22 closing price of $32.92. The stock recently traded at 24 times the next 12-month earnings, versus a P/E of 23 three months ago.
Q3 results miss revenue and EPS estimates
MarineMax said fiscal third-quarter revenue fell 7% and missed analyst expectations. Adjusted earnings per share also missed estimates, while adjusted net income beat forecasts as gross margin improved on stronger boat and service business.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q3 Revenue | Miss | $611.26 mln | $682.49 mln (8 Analysts) |
