Revenue: As of FY2026 Q1, the actual value is USD 505.18 M, beating the estimate of USD 482.63 M.EPS: As of FY2026 Q1, the actual value is USD -0.36, missing the estimate of USD -0.12.EBIT: As of FY2026 Q1, the actual value is USD 20.78 M.<h4>Consolidated Performance (Three Months Ended December 31, 2025 vs. 2024)</h4><ul><li>Total Revenue: Increased by $36.7 million, or 7.8%, to $505.2 million in 2025 from $468.5 million in 2024, driven by a 10.7% rise in comparable-store sales.</li><li>Gross Profit: Decreased by $9.2 million, or 5.4%, to $160.5 million in 2025 from $169.7 million in 2024, with the gross profit margin decreasing to 31.8% in 2025 from 36.2% in 2024.</li><li>Selling, General, and Administrative Expenses (SG&amp;A): Increased by $24.9 million, or 19.1%, to $155.6 million in 2025 from $130.7 million in 2024, mainly due to changes in the fair value of contingent consideration liabilities.</li><li>Income from Operations: Decreased to $4.9 million in 2025 from $38.9 million in 2024.</li><li>Interest Expense: Decreased by $2.8 million to $15.9 million in 2025 from $18.7 million in 2024, mainly due to decreased borrowings from lower inventory levels and lower interest rates.</li><li>Net (Loss) Income: MarineMax, Inc. reported a net loss of - $7.9 million in 2025, compared to net income of $18.1 million in 2024.</li></ul><h4>Retail Operations Segment (Three Months Ended December 31, 2025 vs. 2024)</h4><ul><li>Revenue: $504.4 million in 2025, compared to $468.3 million in 2024.</li><li>Cost of Sales: $347.1 million in 2025, compared to $301.3 million in 2024.</li><li>Selling, General and Administrative Expenses: $150.2 million in 2025, compared to $125.8 million in 2024.</li><li>Income from Operations: $7.2 million in 2025, a significant decrease from $41.3 million in 2024.</li><li>Revenue Breakdown (2025 vs. 2024):<ul><li>New boat sales: 63.4% of segment revenue in 2025 (58.7% in 2024).</li><li>Used boat sales: 9.0% of segment revenue in 2025 (11.1% in 2024).</li><li>Maintenance and repair services: 5.6% of segment revenue in 2025 (6.4% in 2024).</li><li>Storage and charter rentals: 8.9% of segment revenue in 2025 (9.4% in 2024).</li><li>Finance and insurance products: 2.9% of segment revenue in 2025 (3.1% in 2024).</li><li>Parts and accessories: 5.2% of segment revenue in 2025 (5.7% in 2024).</li><li>Brokerage sales: 5.0% of segment revenue in 2025 (5.6% in 2024).</li></ul></li><li>Depreciation: $8.5 million in 2025, up from $7.7 million in 2024.</li><li>Amortization: $2.3 million in both 2025 and 2024.</li></ul><h4>Product Manufacturing Segment (Three Months Ended December 31, 2025 vs. 2024)</h4><ul><li>Revenue: $21.6 million in 2025, a decrease from $37.9 million in 2024.</li><li>Cost of Sales: $22.4 million in 2025, compared to $32.8 million in 2024.</li><li>Selling, General and Administrative Expenses: $5.4 million in 2025, compared to $4.9 million in 2024.</li><li>Loss from Operations: - $6.1 million in 2025, compared to income of $0.2 million in 2024.</li><li>Revenue Breakdown (2025 vs. 2024):<ul><li>New boat sales: 98.2% of segment revenue in 2025 (98.8% in 2024).</li><li>Parts and accessories: 1.8% of segment revenue in 2025 (1.2% in 2024).</li></ul></li><li>Depreciation: $1.7 million in 2025, up from $1.5 million in 2024.</li><li>Amortization: $0 in both 2025 and 2024.</li></ul><h4>Cash Flow (Three Months Ended December 31, 2025 vs. 2024)</h4><ul><li>Operating Activities: Net cash provided was $16.9 million in 2025, a significant improvement from net cash used of - $146.1 million in 2024.</li><li>Investing Activities: Net cash provided was $2.6 million in 2025, compared to net cash used of - $6.5 million in 2024.</li><li>Financing Activities: Net cash used was - $25.2 million in 2025, compared to net cash provided of $74.7 million in 2024.</li></ul><h4>Key Financial Position Metrics (As of December 31, 2025 vs. September 30, 2025)</h4><ul><li>Cash and Cash Equivalents: $164.6 million at December 31, 2025, down from $170.4 million at September 30, 2025.</li><li>Inventories: $867.9 million at December 31, 2025, slightly up from $867.3 million at September 30, 2025.</li><li>Short-term Borrowings (Floor Plan): $702.7 million at December 31, 2025, down from $715.7 million at September 30, 2025.</li><li>Long-term Debt, net: $347.5 million at December 31, 2025, down from $356.2 million at September 30, 2025.</li><li>Goodwill: $527.0 million at December 31, 2025, compared to $526.9 million at September 30, 2025.</li></ul><h4>Other Operational Metrics</h4><ul><li>Florida Dealership Revenue: Accounted for approximately 54% of dealership revenue in fiscal 2025, 53% in fiscal 2024, and 53% in fiscal 2023.</li><li>Product Concentration Risk: Sales of new Brunswick boats were approximately 18% of fiscal 2025 revenue, with new Sea Ray boats at 8% and new Boston Whaler boats at 9%. New Azimut yachts accounted for approximately 6% of fiscal 2025 revenue.</li><li>Contingent Consideration Liabilities: Increased to $1.7 million at December 31, 2025, from $1.6 million at September 30, 2025, with a change in fair value of $27 thousand for the three months ended December 31, 2025, compared to - $25.8 million in 2024.</li><li>Stock-Based Compensation Expense: $2.6 million in 2025, compared to $5.5 million in 2024.</li></ul><h4>Future Outlook and Strategy</h4>MarineMax, Inc. plans to pursue growth through acquisitions, subject to macroeconomic conditions and target availability, while leveraging its core strengths and digital platform to capitalize on future opportunities and enhance earnings potential. The company anticipates its existing capital resources and cash from sales will be sufficient for liquidity and capital requirements for at least the next 12 months and the foreseeable future, excluding potential significant acquisitions.

Marinemax | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 505.18 M