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MarineMax (HZO) investor relations material
MarineMax Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q3 FY 2025 revenue declined to $657.2M, with same-store sales down 9% due to soft retail demand and economic uncertainty; higher-margin businesses partially offset the impact.
Net loss was $52.1M, driven by a $69.1M non-cash goodwill impairment in the manufacturing segment.
Gross margin decreased to 30.4% from 32.0% year-over-year, but remained above 30% due to contributions from finance, insurance, and marina operations.
Cost-cutting initiatives reduced adjusted SG&A by up to 5% for the quarter and nearly $11M year-to-date.
Management remains focused on digital investments, customer experience, and business diversification for long-term growth.
Financial highlights
Quarterly revenue was $657.2M, down from $757.7M year-over-year; adjusted EBITDA was $35.5M, down from $70.4M.
Net loss for the quarter was $52.1M; adjusted net income was $11M ($0.49 per diluted share), down from $34.8M ($1.51 per share) last year.
Gross profit for the quarter was $199.6M (30.4% margin); inventories increased by $26M year-over-year.
Cash and cash equivalents stood at $151M at quarter end, down from $242.4M last year.
Diluted EPS for the quarter was $(2.42) vs. $1.37 prior year.
Outlook and guidance
Full-year adjusted net income guidance revised to $0.45–$0.95 per diluted share; adjusted EBITDA expected at $105M–$120M.
September quarter expected to face similar challenges as June, with high inventory levels continuing to pressure margins.
Management expects continued headwinds from economic uncertainty, trade policies, and geopolitical tensions.
July is expected to finish ahead of last year, showing early signs of stabilization.
Liquidity is expected to be sufficient for at least the next 12 months, barring significant acquisitions.
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