MarineMax Inc. (NYSE:HZO) on Thursday reported a smaller-than-expected fourth-quarter loss, as sales topped Wall Street estimates.
The company posted an adjusted loss of 4 cents per share, compared with analysts’ expectations for a loss of 13 cents per share. That compares with earnings of 24 cents per share a year earlier.
Quarterly revenue slipped to $552.15 million compared with $563.12 million in the prior-year period, but came in above analysts’ forecasts of $532.8 million.
Gross profit was $191.4 million, or 34.7% of revenue, up from 34.3% a year earlier, as growth in higher-margin businesses offset weaker boat margins in a soft retail market.
Same-store sales increased 2.3% in the quarter, while adjusted EBITDA fell to $17.28 million from $33.54 million a year earlier.
The company ended the quarter with $170.35 million in cash and cash equivalents.
Segment Performance
In the fourth quarter of fiscal 2025, MarineMax’s Retail Operations segment generated $549.12 million in revenue, down from $562.51 million a year earlier, while Product Manufacturing revenue rose to $33.36 million from $30.38 million.
Retail Operations delivered operating income of $14.24 million, compared with $28.65 million a year ago, whereas Product Manufacturing posted an operating loss of $3.52 million, versus a loss of $2.08 million in the prior-year period.
CEO Brett McGill said full-year results met guidance despite weak new-boat demand, thanks to strong growth in higher-margin areas like finance, insurance, parts, services, superyachts, and marina operations.
He highlighted margin improvement, strategic pruning of weaker brands, and strong performance at the Fort Lauderdale Boat Show.
Outlook
MarineMax expects fiscal 2026 adjusted earnings of 40 cents to 95 cents per share, compared with analysts’ estimate of 77 cents. The company forecast adjusted EBITDA in the range of $110 million to $125 million for the year.
“Although our fiscal 2026 outlook reflects a prudent approach in light of macroeconomic uncertainty and persistent industry headwinds, we remain confident in MarineMax’s long-term strategy and growth priorities,” McGill said.
Price Action: HZO shares were trading lower by 6.92% to $21.86 premarket at last check Thursday.
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