MarineMax (NYSE: HZO) grows Q3 profit as margins expand and guidance held

Rhea-AI Filing Summary

MarineMax, Inc. reported fiscal 2026 third‑quarter results showing lower sales but sharply stronger profitability. Revenue declined 7.0% to $611.3 million amid a 7% drop in same‑store sales in a soft recreational marine market. However, gross profit rose 9.2% to $218.1 million and gross margin expanded 530 basis points to 35.7%, aided by improved new and used boat margins, growth in higher‑margin businesses such as superyacht services, marinas, and parts and service, and about 110 basis points from a tariff refund.

Net income was $15.4 million, or $0.66 per diluted share, compared with a net loss in the prior‑year quarter that included a $69.1 million goodwill impairment. Adjusted diluted EPS was $0.81, and Adjusted EBITDA increased to $51.3 million from $35.5 million. Inventory management remained a focus, with inventories down $118 million year over year to $788.6 million and cash at $174.8 million. The company refinanced $1.49 billion of senior secured credit facilities, extending maturities to 2031, expanding its revolver, and lowering borrowing costs; quarterly interest expense fell to $14.3 million. Management reaffirmed full‑year 2026 guidance for Adjusted EBITDA of $110 million to $125 million and adjusted net income of $0.40 to $0.95 per diluted share, citing its diversified business model, higher‑margin revenue mix, and strengthened balance sheet.

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

Revenue Q3 2026: $611.3 million Gross margin Q3 2026: 35.7% Net income Q3 2026: $15.4 million +5 more

8 metrics

Revenue Q3 2026 $611.3 million Fiscal 2026 third quarter revenue; declined 7.0% from $657.2 million

Gross margin Q3 2026 35.7% Increased from 30.4% in the prior-year quarter; 530 basis-point expansion

Net income Q3 2026 $15.4 million Fiscal 2026 third quarter net income attributable to MarineMax, Inc.

Adjusted diluted EPS Q3 2026 0.81 Adjusted diluted net income per common share for fiscal 2026 third quarter

Adjusted EBITDA Q3 2026 $51.3 million Fiscal 2026 third quarter Adjusted EBITDA; increased from $35.5 million

Inventories June 30, 2026 $788.6 million Inventories as of June 30, 2026; 13.0% lower year over year

Cash June 30, 2026 $174.8 million Cash and cash equivalents as of June 30, 2026

Fiscal 2026 Adjusted EBITDA guidance $110 million to $125 million Reaffirmed full-year 2026 Adjusted EBITDA guidance range

Key Terms

Adjusted EBITDA, same-store sales, goodwill impairment, contingent consideration, +2 more

6 terms

Adjusted EBITDA financial

"Adjusted EBITDA1 increased to $51.3 million from $35.5 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.

same-store sales financial

"despite a 7% decline in same-store sales, reflecting the strength"

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.

goodwill impairment financial

"included a non-cash goodwill impairment charge of $69.1 million"

Goodwill impairment occurs when a company’s valued reputation or brand strength, known as goodwill, is found to be worth less than previously recorded on its financial statements. This usually happens when the company's performance declines or market conditions change, signaling that the expected benefits from acquisitions or brand value are no longer as strong. It matters to investors because it can indicate that a company's assets are less valuable than initially thought, potentially affecting its overall financial health.

contingent consideration financial

"change in fair value of contingent consideration, weather expenses"

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.

Floor Plan financial

"Short-term borrowings (Floor Plan) | | 608,320 | | | | 715,679"

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.

non-GAAP financial measures financial

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

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: $611.3 million · Guidance included

fiscal 2026 third quarter ended June 30, 2026

Revenue $611.3 million declined 7.0% from $657.2 million in the prior-year quarter

GAAP diluted EPS 0.66 compared with $(2.42) in the prior-year quarter, which included a $69.1 million goodwill impairment

Adjusted diluted EPS 0.81 up from $0.05 in the prior-year quarter

Adjusted EBITDA $51.3 million increased from $35.5 million in the prior-year quarter

Guidance

Company reaffirmed fiscal 2026 Adjusted EBITDA of $110 million to $125 million and adjusted net income of $0.40 to $0.95 per diluted share.

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FAQ

How did MarineMax (HZO) perform in fiscal 2026 Q3?

MarineMax generated revenue of $611.3 million in fiscal 2026 Q3, down 7.0%, but improved profitability. Gross margin rose to 35.7%, gross profit increased 9.2% to $218.1 million, and net income reached $15.4 million, or $0.66 per diluted share.

What were MarineMax (HZO) earnings and Adjusted EBITDA for Q3 2026?

MarineMax reported diluted EPS of $0.66 and adjusted diluted EPS of $0.81 in Q3 2026. Adjusted EBITDA was $51.3 million, up from $35.5 million a year earlier, reflecting higher margins and contributions from higher‑margin business lines.

How did MarineMax (HZO) manage inventory and cash in Q3 2026?

MarineMax reduced inventories to $788.6 million as of June 30, 2026, a 13.0% year‑over‑year decline, or about $118 million. Cash and cash equivalents increased to $174.8 million, supporting improved working capital efficiency and balance sheet strength.

What refinancing did MarineMax (HZO) complete and how did it affect interest expense?

MarineMax completed a refinancing of $1.49 billion of senior secured credit facilities, extending maturities to 2031 and lowering borrowing costs. Quarterly interest expense declined to $14.3 million from $16.9 million, aided by lower inventory levels and reduced rates.

What fiscal 2026 guidance did MarineMax (HZO) provide?

MarineMax reaffirmed fiscal 2026 guidance for Adjusted EBITDA of $110 million to $125 million and adjusted net income of $0.40 to $0.95 per diluted share. The outlook excludes potential impacts from material acquisitions, tariff changes, geopolitical conflicts, and broader macroeconomic shifts.

How are MarineMax (HZO) higher-margin businesses impacting results?

Growth in higher‑margin areas such as superyacht services, marinas, finance and insurance, and parts and service helped lift gross margin to 35.7%. These segments partly offset softer boat retail demand and contributed to higher Adjusted EBITDA and improved overall profitability.

What happened to MarineMax (HZO) same-store sales in Q3 2026?

MarineMax reported a 7% decline in same‑store sales in fiscal 2026 Q3, reflecting continued softness in the recreational marine retail market. Despite this, improved boat margins and higher‑margin business growth drove gross profit higher and supported expanded profitability metrics.

false000105706000010570602026-07-232026-07-23

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): July 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 July 23, 2026, MarineMax, Inc. issued a press release announcing its results of operations for its third fiscal quarter ended June 30, 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 July 23, 2026, reporting the financial results for its third fiscal quarter ended June 30, 2026.

Exhibit Index

Exhibit No.		Description
99.1		Press release of MarineMax, Inc. dated July 23, 2026, reporting the financial results for its third fiscal quarter ended June 30, 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:	July 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 Third Quarter Results

~ Diversified Business Model Delivers Improved Profitability and Strong Margin Expansion Despite Challenging Marine Retail Environment ~

~ Gross Margin Increases 530 Basis Points to 35.7% ~

~ Company Reaffirms Fiscal 2026 Guidance ~

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

OLDSMAR, Florida, July 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 third quarter ended June 30, 2026.

Fiscal 2026 Third Quarter Summary

•Revenue of $611.3 million

•Gross margin increased 530 basis points to 35.7%, driven by improved boat margins and continued growth of the Company’s higher-margin businesses

•Gross profit increased by 9.2% to $218.1 million, despite a 7% decline in same-store sales, reflecting the strength of MarineMax’s diversified business model and execution in a challenging marine retail environment

•Inventories decreased $118 million year-over-year through continued focus on inventory management and working capital efficiency

•Completed the refinancing of $1.49 billion aggregate senior secured credit facilities, extending maturities to 2031, expanding the revolving credit facility and lowering borrowing costs while enhancing financial flexibility

•Reported net income of $15.4 million, or $0.66 per diluted share; Adjusted diluted EPS1 of $0.81

•Adjusted EBITDA1 of $51.3 million

CEO & President Commentary

“Our team executed with discipline during the quarter, delivering meaningful gross margin expansion despite continued softness across the recreational marine industry,” said Brett McGill, Chief Executive Officer and President of MarineMax. “Improved margins on new and used boats, along with increased contributions from higher-margin businesses such as superyacht services, marinas, finance and insurance, and parts and service, drove higher profitability despite lower same-store sales. We also reduced inventory, generated cash, and further strengthened our balance sheet, reflecting our continued focus on operational excellence and capital efficiency.

“While demand remains tempered by a cautious consumer environment, industry inventory levels continue to normalize, supporting healthier pricing dynamics and margin recovery. Our diversified business model and disciplined operating approach position us to outperform the broader marine market.

“The quarter also reflects continued progress in strengthening our financial position and enhancing financial flexibility,” McGill continued. “Through prudent inventory management, debt reduction, and the

successful refinancing of our $1.49 billion senior secured credit facilities, we extended debt maturities, increased available liquidity, and lowered our cost of capital. These actions, together with our strong cash generation, position us to invest selectively in attractive growth opportunities and continue executing our strategic priorities from a position of financial strength. We are confident in our ability to navigate the current environment and pursue opportunities that enhance our competitive position and drive value for shareholders.”

Fiscal 2026 Third Quarter Results

Revenue in the fiscal 2026 third quarter declined 7.0% to $611.3 million from $657.2 million in the prior-year period, primarily reflecting a 7% decline in same-store sales amid continued softness in the recreational marine retail market. The decline was partly offset by continued growth in the Company’s higher-margin businesses such as superyacht services, marinas (including IGY) and parts and service.

Gross profit increased 9.2% to $218.1 million from $199.6 million in the prior-year period. Gross margin increased 530 basis points to 35.7% from 30.4%, driven by improved new and used boat margins, favorable business mix, and continued growth in the Company’s higher-margin businesses. Gross margin for the quarter also benefitted by approximately 110 basis points from a tariff refund, the majority of which related to boat sales recorded earlier in the fiscal year.

Selling, general, and administrative (SG&A) expenses totaled $180.9 million, or 29.6% of revenue, compared with $172.1 million, or 26.2% of revenue, for the comparable period last year. Excluding transaction and other costs, intangible amortization, changes in contingent consideration, weather-related costs, and restructuring expenses, Adjusted SG&A2 increased $6.1 million, or 3.6%, from the fiscal 2025 third quarter.

Interest expense declined to $14.3 million, or 2.3% of revenue, from $16.9 million, or 2.6% of revenue, in the prior-year period, reflecting lower inventory levels and reduced borrowing costs following lower interest rates and disciplined balance sheet management.

Net income for the fiscal 2026 third quarter was $15.4 million, or $0.66 per diluted share, compared with a net loss of $52.1 million, or $2.42 per share, in the prior-year period. The third quarter of fiscal year 2025 included a non-cash goodwill impairment charge of $69.1 million associated with the Company’s manufacturing segment. Adjusted net income1 was $18.8 million, or $0.81 per diluted share, compared with $1.0 million, or $0.05 per diluted share, in the prior-year period.

Adjusted EBITDA1 increased to $51.3 million from $35.5 million in the prior-year period.

Balance Sheet

Cash and cash equivalents totaled $174.8 million as of June 30, 2026, compared with $151.0 million at the end of the prior-year period.

Inventories declined 13.0% to $788.6 million from $906.2 million in the prior-year period.

Fiscal 2026 Guidance

Based on results to date, current business conditions, retail trends and other 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 and other unforeseen developments, including changes in tariffs, geopolitical conflicts, and broader macroeconomic conditions.

“While we remain mindful of geopolitical and macroeconomic uncertainty, we are encouraged by the continued strength of our higher-margin businesses, improving boat margins, and the progress we have made strengthening our balance sheet,” McGill concluded. “Supported by our diversified business model, disciplined operating approach, strong liquidity, and enhanced financial flexibility, we believe MarineMax is well positioned to navigate current market conditions and capitalize on opportunities as industry fundamentals continue to normalize, with a continued emphasis on driving profitable growth, generating strong cash flow, allocating capital prudently, and creating value for our shareholders.”

Conference Call Information

MarineMax will discuss its fiscal 2026 third 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 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 industry inventory levels, pricing dynamics, margin recovery, our positioning to outperform the broader

marine market, our positioning to invest in attractive growth opportunities and to continue executing our strategic priorities, 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, the quality of the new product offerings from the Company’s manufacturing partners, 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.

MarineMax, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

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

(Unaudited)

		Three Months Ended								Nine Months Ended
		June 30,								June 30,
		2026				2025				2026				2025
Revenue		$	611,258			$	657,159			$	1,643,848			$	1,757,135
Cost of sales			393,180				457,538				1,084,014				1,198,349
Gross profit			218,078				199,621				559,834				558,786
Selling, general, and administrative expenses			180,859				172,106				506,857				469,558
Goodwill impairment			—				69,055				—				69,055
Income (loss) from operations			37,219				(41,540	)			52,977				20,173
Interest expense			14,310				16,936				44,825				53,860
Income (loss) before income tax provision (benefit)			22,909				(58,476	)			8,152				(33,687	)
Income tax provision (benefit)			7,262				(6,506	)			3,315				(3,003	)
Net income (loss)			15,647				(51,970	)			4,837				(30,684	)
Less: Net income attributable to non-controlling interests			286				176				-				96
Net income (loss) attributable to MarineMax, Inc.		$	15,361			$	(52,146	)		$	4,837			$	(30,780	)
Basic net income (loss) per common share		$	0.70			$	(2.42	)		$	0.22			$	(1.38	)
Diluted net income (loss) per common share		$	0.66			$	(2.42	)		$	0.21			$	(1.38	)
Weighted average number of common shares used in computing net income (loss) per common share:
Basic			22,068,431				21,515,092				22,012,594				22,249,076
Diluted			23,157,811				21,515,092				22,827,827				22,249,076

MarineMax, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(Amounts in thousands)

(Unaudited)

		June 30,				September 30,				June 30,
		2026				2025				2025
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	174,779			$	170,351			$	151,017
Accounts receivable, net			95,111				108,288				106,849
Inventories			788,642				867,328				906,219
Prepaid expenses and other current assets			28,244				34,912				33,793
Total current assets			1,086,776				1,180,879				1,197,878
Property and equipment, net			541,674				552,546				551,912
Operating lease right-of-use assets, net			135,832				137,915				138,143
Goodwill			525,117				526,931				527,144
Other intangible assets, net			34,010				35,416				36,661
Other long-term assets			34,928				36,751				35,999
Total assets		$	2,358,337			$	2,470,438			$	2,487,737
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable		$	43,857			$	56,378			$	44,504
Contract liabilities (customer deposits)			61,389				45,699				48,900
Accrued expenses			128,375				121,042				116,892
Short-term borrowings (Floor Plan)			608,320				715,679				735,215
Current maturities on long-term debt			27,525				35,593				35,593
Current operating lease liabilities			11,493				10,489				10,045
Total current liabilities			880,959				984,880				991,149
Long-term debt, net of current maturities			335,172				356,235				365,070
Noncurrent operating lease liabilities			127,300				127,969				127,860
Deferred tax liabilities, net			46,581				47,447				45,539
Other long-term liabilities			4,417				5,154				6,796
Total liabilities			1,394,429				1,521,685				1,536,414
SHAREHOLDERS' EQUITY:
Preferred stock			—				—				—
Common stock			31				31				30
Additional paid-in capital			374,264				360,818				362,216
Accumulated other comprehensive income			5,251				8,234				9,322
Retained earnings			751,221				746,384				747,239
Treasury stock			(178,277	)			(178,277	)			(178,277	)
Total shareholders’ equity attributable to MarineMax, Inc.			952,490				937,190				940,530
Non-controlling interests			11,418				11,563				10,793
Total shareholders’ equity			963,908				948,753				951,323
Total liabilities and shareholders’ equity		$	2,358,337			$	2,470,438			$	2,487,737

MarineMax, Inc. and Subsidiaries

Segment Financial Information

(Amounts in thousands)

(Unaudited)

		Three Months Ended								Nine Months Ended
		June 30,								June 30,
		2026				2025				2026				2025
Revenue:
Retail Operations		$	609,120			$	655,750			$	1,638,865			$	1,750,439
Product Manufacturing			33,265				32,150				78,592				105,591
Elimination of intersegment revenue			(31,127	)			(30,741	)			(73,609	)			(98,895	)
Revenue		$	611,258			$	657,159			$	1,643,848			$	1,757,135
Income from operations:
Retail Operations		$	37,166			$	28,079			$	56,735			$	90,271
Product Manufacturing (1)			(554	)			(72,363	)			(11,753	)			(75,570	)
Intersegment adjustments			607				2,744				7,995				5,472
Income (loss) from operations		$	37,219			$	(41,540	)		$	52,977			$	20,173

(1) Product manufacturing loss from operations for the three and nine months ended June 30, 2025, includes a non-cash goodwill impairment charge of $69.1 million.

MarineMax, Inc. and Subsidiaries

Supplemental Financial Information

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

(Unaudited)

		Three Months Ended								Nine Months Ended
		June 30,								June 30,
		2026				2025				2026				2025
Net income (loss) attributable to MarineMax, Inc.		$	15,361			$	(52,146	)		$	4,837			$	(30,780	)
Transaction and other costs (1)			4,621				742				13,344				1,564
Intangible amortization (2)			835				1,397				2,629				4,253
Change in fair value of contingent consideration (3)			12				60				(331	)			(25,652	)
Weather (recoveries) expenses			(907	)			(773	)			(2,124	)			4,748
Restructuring expense (4)			73				526				282				1,302
Goodwill impairment (5)			—				69,055				—				69,055
Tax adjustments for items noted above (6)			(1,163	)			(17,823	)			(3,464	)			(13,873	)
Adjusted net income attributable to MarineMax, Inc.		$	18,832			$	1,038			$	15,173			$	10,617
Diluted net income (loss) per common share		$	0.66			$	(2.42	)		$	0.21			$	(1.38	)
Transaction and other costs (1)			0.20				0.03				0.57				0.07
Intangible amortization (2)			0.04				0.06				0.12				0.19
Change in fair value of contingent consideration (3)			—				—				(0.01	)			(1.15	)
Weather (recoveries) expenses			(0.04	)			(0.04	)			(0.09	)			0.21
Restructuring expense (4)			—				0.02				0.01				0.06
Goodwill impairment (5)			—				3.21				—				3.10
Tax adjustments for items noted above (6)			(0.05	)			(0.81	)			(0.15	)			(0.62	)
Adjustment for dilutive shares (7)			—				—				—				(0.02	)
Adjusted diluted net income per common share		$	0.81			$	0.05			$	0.66			$	0.46

(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) Represents goodwill impairment expense incurred on the manufacturing reporting unit during the three months ended June 30, 2025.

(6) Adjustments for taxes for items are calculated based on an estimated effective tax rate. The estimated effective rate used for the three and nine months ended June 30, 2026 was used for the three and nine months ended June 30, 2025, for consistency in presentation.

(7) Represents an adjustment for shares that are anti-dilutive for GAAP net income per share but are dilutive for adjusted net income per share.

		Three Months Ended								Nine Months Ended
		June 30,								June 30,
		2026				2025				2026				2025
Net income (loss) attributable to MarineMax, Inc.		$	15,361			$	(52,146	)		$	4,837			$	(30,780	)
Interest expense (excluding floor plan)			7,471				6,946				21,497				22,502
Income tax provision (benefit)			7,262				(6,506	)			3,315				(3,003	)
Depreciation and amortization			12,594				12,537				37,888				36,385
Stock-based compensation expense			4,442				5,643				11,239				16,438
Transaction and other costs			4,621				742				13,344				1,564
Restructuring expense			73				526				282				1,302
Goodwill impairment			—				69,055				—				69,055
Change in fair value of contingent consideration			12				60				(331	)			(25,652	)
Weather (recoveries) expenses			(907	)			(773	)			(2,124	)			4,748
Foreign currency			401				(540	)			822				(41	)
Adjusted EBITDA		$	51,330			$	35,544			$	90,769			$	92,518

1, 2 Non-GAAP Financial Measures

This press release, along with the above Supplemental Financial Information table, contains “Adjusted net income attributable to MarineMax, Inc.,” “Adjusted diluted net 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 expenses. 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.

Contacts:

Mike McLamb	Scott Solomon
Chief Financial Officer	Sharon Merrill Advisors
MarineMax, Inc.	857-383-2409
727-531-1700	HZO@investorrelations.com

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