MarineMax reported record second-quarter revenue of $631.5 million for fiscal 2025, an 8.3% increase year-over-year. The gains were driven largely by higher boat sales and an 11% rise in same-store sales. The company also posted adjusted EBITDA of $30.9 million and adjusted net income of $5.4 million for the quarter ending March 31.
“Our 11% same-store sales growth highlights the exceptional execution by our team,” CEO Brett McGill said in a statement. “By expanding into high-value segments such as marinas, superyacht services, and finance and insurance, together with our premium-brand focus, we have built a more resilient business model that continues to deliver strong performance.”
MarineMax said a key move during the quarter was the acquisition of Shelter Bay Marine in Marathon, Fla. The deal is part of the company’s expansion into service-related operations, which it views as more stable and margin-enhancing. Operating efficiency was also a highlight, with adjusted SG&A expenses down 1% year-over-year, despite the rise in revenue.
The company ended the quarter with more than $200 million in cash and continued reducing long-term debt.
Despite the strong quarter, MarineMax revised its full-year guidance downward due to difficulties from newly implemented tariffs and shifting consumer behavior. Adjusted net income is now expected to range from $1.40 to $2.40 per diluted share, down from prior estimates of $1.80 to $2.80.
“Despite ongoing interest, the level of actual new sales seems to have slowed since the start of April,” McGill said. “We remain confident that as conditions improve, the strong underlying interest in our products will lead to higher demand and growth.”
