Q2 revenue falls as MarineMax (NYSE: HZO) keeps 2026 guidance

Rhea-AI Filing Summary

MarineMax reported a fiscal 2026 second quarter net loss as revenue declined but margins improved and full-year guidance was reaffirmed. Revenue was $527.4 million, down from a record $631.5 million a year ago, mainly from lower boat sales, partly offset by growth in higher-margin businesses.

Gross profit was $181.3 million, with gross margin expanding to 34.4% from 30.0% on increased contributions from finance and insurance, superyacht services and marinas. Same-store sales fell 15%, compared with an 11% increase in the prior-year period, reflecting a tougher retail environment.

Net loss was $2.6 million, or $0.12 per share, versus net income of $3.3 million, or $0.14 per diluted share, last year. Adjusted net income was $0.9 million, or $0.04 per diluted share, down from $5.5 million, or $0.24 per diluted share. Adjusted EBITDA was $23.9 million, compared with $30.9 million.

Cash was $189.1 million, and inventories declined to $845.4 million from $973.4 million in the prior-year period. The company reaffirmed fiscal 2026 guidance for Adjusted EBITDA of $110–$125 million and adjusted net income of $0.40–$0.95 per diluted share.

Positive

• None.

Negative

• Q2 profitability deteriorated: revenue declined to $527.4 million from $631.5 million and results shifted from net income of $3.3 million to a net loss of $2.6 million, with adjusted EBITDA falling to $23.9 million from $30.9 million.

Insights

Equity analyst

MarineMax posted weaker Q2 results but maintained its 2026 outlook.

MarineMax’s Q2 revenue fell to $527.4 million from $631.5 million, and results swung to a net loss of $2.6 million versus prior-year profit. Same-store sales declined 15%, highlighting softness in new and used boat demand.

Despite this, gross margin expanded 440 basis points to 34.4%, driven by higher-margin finance and insurance, superyacht services and marina operations. Inventories decreased by $128.0 million year over year to $845.4 million, supporting management’s comments about disciplined inventory management.

The company reaffirmed fiscal 2026 guidance for Adjusted EBITDA of $110–$125 million and adjusted EPS of $0.40–$0.95. This suggests management still expects improvement over the balance of the year, even as geopolitical and macroeconomic uncertainty continues to affect consumer behavior.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 revenue: $527.4 million Q2 2026 gross margin: 34.4% Q2 same-store sales change: -15% +5 more

8 metrics

Q2 2026 revenue $527.4 million Fiscal 2026 second quarter revenue vs $631.5 million prior year

Q2 2026 gross margin 34.4% Fiscal 2026 second quarter gross profit margin vs 30.0% prior year

Q2 same-store sales change -15% Fiscal 2026 second quarter same-store sales vs +11% prior-year period

Q2 2026 net (loss) income -$2.6 million Net loss attributable to MarineMax vs $3.3 million net income prior year

Q2 2026 adjusted net income $0.9 million Adjusted net income vs $5.5 million in prior-year quarter

Q2 2026 Adjusted EBITDA $23.9 million Adjusted EBITDA vs $30.9 million in prior-year quarter

Cash and cash equivalents $189.1 million Cash balance at March 31, 2026 vs $203.5 million prior year

Inventories $845.4 million Inventories at March 31, 2026 vs $973.4 million prior year

Key Terms

same-store sales, Adjusted EBITDA, floor plan, contingent consideration, +1 more

5 terms

same-store sales financial

"Same-store sales decreased 15% due to challenging environment, compared to an increase of 11% in the prior-year period"

Same-store sales measure the revenue generated by stores that have been open for a certain period, typically a year, comparing their sales over different time frames. It helps assess whether a business is growing due to increased customer activity at existing locations rather than new stores. For investors, this figure indicates the health and performance of a company's core operations, independent of expansion efforts.

Adjusted EBITDA financial

"Adjusted EBITDA1 of $23.9 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

floor plan financial

"Short-term borrowings (Floor Plan) | | | 689,873"

A floor plan is a short-term financing arrangement used by retailers and dealers to buy and carry inventory, where a lender pays for goods up front and the borrower repays as items are sold. Think of it like a credit line specifically for stock on the showroom floor: it keeps cash free for operations but adds interest and repayment obligations, so investors watch it to assess a company’s liquidity, borrowing costs, and inventory-related risk.

contingent consideration financial

"Change in fair value of contingent consideration (3)"

Contingent consideration is an additional payment agreed when one company buys another that will be paid later only if specific future targets are met, such as revenue, profit, or regulatory milestones. It matters to investors because it shifts risk between buyer and seller and affects the acquiring company's future cash flow and reported value — like promising a bonus after results are proven.

non-GAAP financial measures financial

"which are non-GAAP financial measures as defined under applicable securities legislation"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

Earnings Snapshot

Revenue: $527.4 million · Guidance included

Fiscal 2026 second quarter

Revenue $527.4 million

Net (loss) income attributable to MarineMax, Inc. -$2.6 million

Diluted EPS -$0.12

Adjusted net income $0.9 million

Adjusted diluted EPS $0.04

Adjusted EBITDA $23.9 million

Guidance

For fiscal 2026, MarineMax expects Adjusted EBITDA of $110–$125 million and adjusted net income of $0.40–$0.95 per diluted share, excluding impacts from material acquisitions and certain macro and geopolitical factors.

Understanding 8-K Material Events →

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 23, 2026

MarineMax, Inc.

(Exact name of Registrant as Specified in Its Charter)

Florida			1-14173	59-3496957
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
501 Brooker Creek Boulevard
Oldsmar, Florida				34677
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: 727 531-1700

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $.001 per share		HZO		The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On April 23, 2026, MarineMax, Inc. issued a press release announcing its results of operations for its second fiscal quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

The information in this Report of Form 8-K (including the exhibit) is furnished pursuant to Item 2.02 and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information in this Current Report shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date of this Current Report, regardless of any general incorporation language in the filing.

Item 9.01 Financial Statements and Exhibits.

Press release of MarineMax, Inc. dated April 23, 2026, reporting the financial results for its second fiscal quarter ended March 31, 2026.

Exhibit Index

Exhibit No.		Description
99.1		Press release of MarineMax, Inc. dated April 23, 2026, reporting the financial results for its second fiscal quarter ended March 31, 2026.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			MarineMax, Inc.
Date:	April 23, 2026	By:	/s/ Michael H. McLamb
			Name: Michael H. McLamb Title: Executive Vice President, Chief Financial Officer and Secretary

Exhibit 99.1

MarineMax Reports Fiscal 2026 Second Quarter Results

~ Results Underscore Strategic Value and Benefits of Diversified Business Strategy ~

~ Gross Margin Exceeds 34%, Up from 30% in Prior Year ~

~ Company Reaffirms Fiscal 2026 Guidance ~

~ Earnings Conference Call at 10:00 a.m. ET Today ~

OLDSMAR, Florida – April 23, 2026 – MarineMax, Inc. (NYSE: HZO) (“MarineMax” or the “Company”), the world’s largest recreational boat and yacht retailer, marina operator and superyacht services company, today announced results for its fiscal 2026 second quarter ended March 31, 2026.

Fiscal 2026 Second Quarter Summary

•Revenue of $527.4 million

•Same-store sales decreased 15% due to challenging environment, compared to an increase of 11% in the prior-year period

•Gross profit margin of 34.4%, reflecting strength in higher-margin businesses

•Inventories decreased $128.0 million year-over-year

•Reported net loss of $2.6 million, or $0.12 per share; adjusted net income1 of $0.9 million, or $0.04 per diluted share

•Adjusted EBITDA1 of $23.9 million

CEO & President Commentary

“Our fiscal second quarter results reflected ongoing industry headwinds in the retail environment for new and used boat sales; however, our higher margin businesses once again provided important balance, stability and growth, helping to offset much of the pressure caused by the decline in boat revenue,” said MarineMax Chief Executive Officer and President Brett McGill. “Contributions from areas of the business that we have strategically expanded, including finance and insurance, superyacht services, marinas, and parts and service, continue to perform well and support our margin profile, underscoring the benefits of our diversified business model.

“While near-term market conditions remain pressured by geopolitical and macroeconomic uncertainty, including international concerns from tariffs, the long-term fundamentals of the recreational marine market remain strong,” McGill said. “Virtually every recent boat show we have participated in, including last month’s Palm Beach International Boat Show, has produced strong and, in some cases, record results, highlighting sustained consumer interest in the boating lifestyle, especially in premium segments. This demand is reflected in our sequential and year-over-year customer deposit growth trends as well as continued strength in our superyacht and international marina businesses.

“Our balance sheet remains very strong, supported by disciplined inventory management, reduced floorplan financing, and ample liquidity,” McGill said. “As we enter the summer selling season, we are

seeing increased demand across both digital and retail channels supporting a cautiously optimistic outlook.”

Fiscal 2026 Second Quarter Results

Revenue for the fiscal 2026 second quarter was $527.4 million, compared with a record $631.5 million in the same period last year. This decline, primarily driven by lower boat sales, was partially offset by continued growth in higher-margin businesses, including finance and insurance, superyacht services and marinas.

Gross profit totaled $181.3 million, compared with $189.5 million in the prior-year period. Gross profit margin expanded 440 basis points year-over-year to 34.4%, primarily driven by the increasing contribution from higher-margin businesses.

Selling, general, and administrative (SG&A) expenses were $170.4 million, or 32.3% of revenue, compared with SG&A expenses of $166.8 million, or 26.4% of revenue, in the prior-year period. On an adjusted basis, excluding transaction costs, changes in contingent consideration, weather events, and other non-recurring items, Adjusted SG&A2 was $165.8 million, or 31.4% of revenue, compared with $163.8 million, or 25.9% of revenue, in the prior year.

Interest expense was $14.7 million, or 2.8% of revenue, compared with $18.2 million, or 2.9% of revenue, in the prior-year period, reflecting lower interest rates and reduced inventory levels.

Net loss for the quarter was $2.6 million, or $0.12 per share, compared with net income of $3.3 million, or $0.14 per diluted share, in the prior-year period. Adjusted net income1 was $0.9 million, or $0.04 per diluted share, compared with Adjusted net income of $5.5 million, or $0.24 per diluted share, in the prior year.

Adjusted EBITDA1 for the quarter was $23.9 million, compared with $30.9 million in the prior-year period.

Balance Sheet

Cash and cash equivalents were $189.1 million at quarter end, compared with $203.5 million in the prior-year period and $170.4 million at the end of fiscal 2025.

Inventories totaled $845.4 million, down from $973.4 million in the prior-year period.

Company Reaffirms Fiscal 2026 Guidance

Based on current business conditions, retail marine industry trends, and other relevant factors, the Company continues to expect fiscal 2026 Adjusted EBITDA1,2 to be in the range of $110 million to $125 million and adjusted net income1,2 in the range of $0.40 to $0.95 per diluted share. These projections exclude the potential impact of material acquisitions or other unforeseen developments, including changes in tariffs, international hostilities, and broader macroeconomic conditions.

“As we look ahead, we recognize that geopolitical uncertainty and macroeconomic dynamics may continue to influence consumer behavior over the next several quarters,” McGill concluded. “That said, our diversified business model, strong balance sheet and continued growth in higher-margin businesses position us well to navigate the environment and drive long-term value creation.”

Conference Call Information

MarineMax will discuss its fiscal 2026 second quarter financial results on a conference call starting at 10:00 a.m. ET today. The conference call can be accessed via the “Investors” section of the Company's website: www.marinemax.com, or by dialing 877-407-0789 (U.S. and Canada) or 201-689-8562 (International). An online replay will be available within one hour of the conclusion of the call and will be archived on the website for one year.

About MarineMax

As the world’s largest recreational boat and yacht retailer, marina operator and superyacht services company, MarineMax (NYSE: HZO) is United by Water. We have over 120 locations worldwide, including over 70 dealerships and over 65 marina and storage facilities. Our integrated business includes IGY Marinas, which operates luxury marinas in yachting and sport fishing destinations around the world; Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies; Cruisers Yachts, one of the world’s premier manufacturers of premium sport yachts, motor yachts, and Aviara luxury dayboats; and Intrepid Powerboats, a premier manufacturer of powerboats. To enhance and simplify the customer experience, we provide financing and insurance services as well as leading digital technology products that connect boaters to a network of preferred marinas, dealers, and marine professionals through Boatyard and Boatzon. In addition, we operate MarineMax Vacations in Tortola, British Virgin Islands, which offers our charter vacation guests the luxury boating adventures of a lifetime. Land comprises 29% of the earth’s surface. We’re focused on the other 71%. Learn more at www.marinemax.com.

Forward-Looking Statement

Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events, and may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or the negative of these words, or other similar terms or expressions that concern the Company’s expectations, strategy, plans, or intentions. These statements, including those relating to the strength of the long-term fundamentals of the recreational marine market, demand across both

digital and retail channels, our optimism because of the improving trends, our fiscal 2026 guidance, the influence of geopolitical uncertainty and macroeconomic dynamics on consumer behavior over the next several quarters, and our positioning to navigate the environment and drive long-term value creation, are based on current expectations, forecasts, risks, uncertainties, and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions, and uncertainties include the timing of and potential outcome of the Company’s long-term strategy, the estimated impact resulting from the Company’s cost-reduction initiatives, the Company’s abilities to reduce inventory, manage expenses and accomplish its goals and strategies, general economic conditions, as well as those within the Company's industry, the level of consumer spending, and numerous other factors identified in the Company’s most recently filed Forms 10-K and 10-Q and other filings with the Securities and Exchange Commission. The forward-looking statements speak only as of the date of this press release and undue reliance should not be placed on these statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Mike McLamb

Chief Financial Officer

727-531-1700

Scott Solomon

Senior Vice President

Sharon Merrill Advisors

857-383-2409

HZO@investorrelations.com

MarineMax, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

(Amounts in thousands, except share and per share data)

(Unaudited)

		Three Months Ended								Six Months Ended
		March 31,								March 31,
		2026				2025				2026				2025
Revenue		$	527,412			$	631,515			$	1,032,590			$	1,099,976
Cost of sales			346,126				442,004				690,834				740,811
Gross profit			181,286				189,511				341,756				359,165
Selling, general, and administrative expenses			170,448				166,770				325,998				297,452
Income from operations			10,838				22,741				15,758				61,713
Interest expense			14,659				18,179				30,515				36,924
(Loss) income before income tax (benefit) provision			(3,821	)			4,562				(14,757	)			24,789
Income tax (benefit) provision			(1,106	)			1,400				(3,947	)			3,503
Net (loss) income			(2,715	)			3,162				(10,810	)			21,286
Less: Net loss attributable to non-controlling interests			(117	)			(138	)			(286	)			(80	)
Net (loss) income attributable to MarineMax, Inc.		$	(2,598	)		$	3,300			$	(10,524	)		$	21,366
Basic net (loss) income per common share		$	(0.12	)		$	0.15			$	(0.48	)		$	0.94
Diluted net (loss) income per common share		$	(0.12	)		$	0.14			$	(0.48	)		$	0.91
Weighted average number of common shares used in computing net (loss) income per common share:
Basic			22,027,425				22,616,518				21,984,675				22,616,069
Diluted			22,027,425				23,324,347				21,984,675				23,354,856

MarineMax, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(Amounts in thousands)

(Unaudited)

		March 31,				September 30,				March 31,
		2026				2025				2025
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	189,132			$	170,351			$	203,507
Accounts receivable, net			101,136				108,288				119,488
Inventories			845,371				867,328				973,410
Prepaid expenses and other current assets			25,454				34,912				27,219
Total current assets			1,161,093				1,180,879				1,323,624
Property and equipment, net			546,786				552,546				546,958
Operating lease right-of-use assets, net			139,085				137,915				140,230
Goodwill			525,650				526,931				591,101
Other intangible assets, net			34,700				35,416				37,592
Other long-term assets			34,247				36,751				33,596
Total assets		$	2,441,561			$	2,470,438			$	2,673,101
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable		$	62,511			$	56,378			$	44,567
Contract liabilities (customer deposits)			61,742				45,699				56,936
Accrued expenses			122,430				121,042				172,156
Short-term borrowings (Floor Plan)			689,873				715,679				821,701
Current maturities on long-term debt			35,593				35,593				33,766
Current operating lease liabilities			11,288				10,489				10,196
Total current liabilities			983,437				984,880				1,139,322
Long-term debt, net of current maturities			338,730				356,235				339,054
Noncurrent operating lease liabilities			129,980				127,969				128,872
Deferred tax liabilities, net			41,211				47,447				55,372
Other long-term liabilities			4,780				5,154				7,102
Total liabilities			1,498,138				1,521,685				1,669,722
SHAREHOLDERS' EQUITY:
Preferred stock			—				—			—
Common stock			31				31				30
Additional paid-in capital			368,584				360,818				355,459
Accumulated other comprehensive income			6,018				8,234				1,803
Retained earnings			735,860				746,384				799,385
Treasury stock			(178,277	)			(178,277	)			(163,228	)
Total shareholders’ equity attributable to MarineMax, Inc.			932,216				937,190				993,449
Non-controlling interests			11,207				11,563				9,930
Total shareholders’ equity			943,423				948,753				1,003,379
Total liabilities and shareholders’ equity		$	2,441,561			$	2,470,438			$	2,673,101

MarineMax, Inc. and Subsidiaries

Segment Financial Information

(Amounts in thousands)

(Unaudited)

		Three Months Ended								Six Months Ended
		March 31,								March 31,
		2026				2025				2026				2025
Revenue:
Retail Operations		$	525,332			$	626,340			$	1,029,745			$	1,094,689
Product Manufacturing			23,705				35,503				45,327				73,441
Elimination of intersegment revenue			(21,625	)			(30,328	)			(42,482	)			(68,154	)
Revenue		$	527,412			$	631,515			$	1,032,590			$	1,099,976
Income from operations:
Retail Operations		$	12,404			$	20,941			$	19,569			$	62,191
Product Manufacturing			(5,074	)			(3,429	)			(11,199	)			(3,206	)
Intersegment adjustments			3,508				5,229				7,388				2,728
Income from operations		$	10,838			$	22,741			$	15,758			$	61,713

MarineMax, Inc. and Subsidiaries

Supplemental Financial Information

(Amounts in thousands, except share and per share data)

(Unaudited)

		Three Months Ended								Six Months Ended
		March 31,								March 31,
		2026				2025				2026				2025
Net (loss) income attributable to MarineMax, Inc.		$	(2,598	)		$	3,300			$	(10,524	)		$	21,366
Transaction and other costs (1)			5,747				602				8,723				823
Intangible amortization (2)			835				1,428				1,794				2,856
Change in fair value of contingent consideration (3)			(757	)			106				(343	)			(25,712	)
Weather (recoveries) expenses			(1,226	)			553				(1,217	)			5,521
Restructuring expense (4)			62				273				209				776
Tax adjustments for items noted above (5)			(1,170	)			(743	)			(2,301	)			3,950
Adjusted net income (loss) attributable to MarineMax, Inc.		$	893			$	5,519			$	(3,659	)		$	9,580
Diluted net (loss) income per common share		$	(0.12	)		$	0.14			$	(0.48	)		$	0.91
Transaction and other costs (1)			0.26				0.03				0.40				0.04
Intangible amortization (2)			0.04				0.06				0.08				0.12
Change in fair value of contingent consideration (3)			(0.03	)			0.01				(0.02	)			(1.10	)
Weather (recoveries) expenses			(0.06	)			0.02				(0.06	)			0.24
Restructuring expense (4)			—				0.01				0.01				0.03
Tax adjustments for items noted above (5)			(0.05	)			(0.03	)			(0.10	)			0.17
Adjusted diluted net income (loss) per common share		$	0.04			$	0.24			$	(0.17	)		$	0.41

(1) Transaction and other costs relate to acquisition transaction expenses, integration, and other related costs in the period.

(2) Represents amortization expense for acquisition-related intangible assets.

(3) Represents (gains) expenses to record contingent consideration liabilities at fair value.

(4) Represents expenses incurred as a result of restructuring and store closings.

(5) Adjustments for taxes for items are calculated based on an estimated effective tax rate. The estimated effective rate used for the three and six months ended March 31, 2026 was used for the three and six months ended March 31, 2025, for consistency in presentation.

		Three Months Ended								Six Months Ended
		March 31,								March 31,
		2026				2025				2026				2025
Net (loss) income attributable to MarineMax, Inc.		$	(2,598	)		$	3,300			$	(10,524	)		$	21,366
Interest expense (excluding floor plan)			6,671				7,155				14,026				15,556
Income tax (benefit) provision			(1,106	)			1,400				(3,947	)			3,503
Depreciation and amortization			12,711				12,251				25,294				23,849
Stock-based compensation expense			4,152				5,321				6,798				10,794
Transaction and other costs			5,747				602				8,723				823
Restructuring expense			62				273				209				776
Change in fair value of contingent consideration			(757	)			106				(343	)			(25,712	)
Weather (recoveries) expenses			(1,226	)			553				(1,217	)			5,521
Foreign currency			236				(43	)			420				499
Adjusted EBITDA		$	23,892			$	30,918			$	39,439			$	56,975

1, 2 Non-GAAP Financial Measures

This press release, along with the above Supplemental Financial Information table, contains “Adjusted net (loss) income attributable to MarineMax, Inc.,” “Adjusted diluted net (loss) income per common share,” “Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization” (“Adjusted EBITDA”), and “Adjusted selling, general and administrative expenses” (“Adjusted SG&A”), which are non-GAAP financial measures as defined under applicable securities legislation. Adjusted SG&A expenses represent SG&A expenses adjusted for transaction and other costs, intangible amortization, change in fair value of contingent consideration, weather expenses, and restructuring expense. See the tables labeled, “Supplemental Financial Information” for the excluded amounts for both periods for Adjusted SG&A.

In determining these measures, the Company excludes certain items which are otherwise included in determining the comparable GAAP financial measures. The Company believes these non-GAAP financial measures are key performance indicators that improve the period-to-period comparability of the Company’s results and provide investors with more insight into, and an additional tool to understand and assess, the performance of the Company's ongoing core business operations. Investors and other readers are encouraged to review the related GAAP financial measures and the above reconciliation and should consider these non-GAAP financial measures as a supplement to, and not as a substitute for or as a superior measure to, measures of financial performance prepared in accordance with GAAP.

In addition, we have not reconciled our fiscal year 2026 Adjusted net income and Adjusted EBITDA guidance to net income (the corresponding GAAP measure for each), which is not accessible on a forward-looking basis due to the high variability and difficulty in making accurate forecasts and projections, particularly with respect to acquisition contingent consideration, acquisition costs, and other costs. Acquisition contingent consideration and transaction costs, which are likely to be significant to the calculation of net income, are affected by the integration and post-acquisition performance of our acquirees, which is difficult to predict and subject to change. Accordingly, reconciliations of forward-looking Adjusted net income and Adjusted EBITDA are not available without unreasonable effort.

FAQ

How did MarineMax (HZO) perform in its fiscal 2026 second quarter?

MarineMax reported Q2 revenue of $527.4 million, down from $631.5 million a year earlier, and a net loss of $2.6 million. Adjusted net income was $0.9 million, or $0.04 per diluted share, reflecting softer boat demand despite stronger higher-margin businesses.

What happened to MarineMax (HZO) same-store sales and margins in Q2 2026?

Same-store sales declined 15% in the quarter, compared with an 11% increase in the prior-year period, showing weaker retail boat demand. However, gross margin improved to 34.4% from 30.0%, helped by growing contributions from finance and insurance, marinas, and superyacht services.

Did MarineMax (HZO) reaffirm its fiscal 2026 guidance?

MarineMax reaffirmed its fiscal 2026 outlook, keeping Adjusted EBITDA guidance at $110–$125 million and adjusted net income at $0.40–$0.95 per diluted share. This guidance excludes potential impacts from significant acquisitions, tariff changes, international hostilities, and broader macroeconomic shifts.

How did MarineMax (HZO) Q2 2026 profitability compare with last year?

Profitability weakened year over year: MarineMax moved from net income of $3.3 million, or $0.14 per diluted share, to a net loss of $2.6 million, or $0.12 per share. Adjusted net income also declined from $5.5 million to $0.9 million.

What is MarineMax (HZO) reporting for Adjusted EBITDA in Q2 2026?

MarineMax reported Adjusted EBITDA of $23.9 million for the fiscal 2026 second quarter, down from $30.9 million a year earlier. The metric adds back interest, taxes, depreciation, amortization and specified non-recurring items to highlight performance of ongoing core operations.

What does MarineMax’s (HZO) balance sheet look like after Q2 2026?

At quarter end, MarineMax held $189.1 million in cash and cash equivalents and inventories of $845.4 million, down from $973.4 million a year earlier. Total assets were $2.44 billion, with shareholders’ equity of $943.4 million, reflecting a still sizable capital base.

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