MarineMax (NYSE:HZO) Posts Earnings Results, Misses Expectations By $0.01 EPS

Key Points

• MarineMax missed earnings expectations by $0.01 per share, reporting $0.81 EPS versus the $0.82 consensus. Revenue also declined 7% year over year, though results improved sharply from a loss in the prior-year quarter.
• The company said gross margin expanded 530 basis points to 35.7%, helped by better boat margins, a more favorable mix, and tighter inventory control. Management also pointed to stronger recurring, higher-margin businesses such as parts and service, marina operations, and finance-related services.
• MarineMax refinanced all term debt on better terms and pushed maturities out to 2031, improving financial flexibility. It reaffirmed FY2026 guidance for adjusted EBITDA of $110 million to $125 million and adjusted EPS of $0.40 to $0.95.

MarineMax (NYSE:HZO - Get Free Report) released its earnings results on Thursday. The specialty retailer reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01), Zacks reports. MarineMax had a negative net margin of 2.83% and a positive return on equity of 0.68%. During the same period last year, the business earned ($2.42) earnings per share. The firm's quarterly revenue was down 7.0% on a year-over-year basis. MarineMax updated its FY 2026 guidance to 0.400-0.950 EPS.

Here are the key takeaways from MarineMax's conference call:

• MarineMax said fiscal Q3 gross margin expanded 530 basis points to 35.7%, driven by better boat margins, a stronger mix of higher-margin businesses, and disciplined inventory management.
• Revenue fell to $611 million and same-store sales declined 7%, reflecting continued softness in boat sales and a challenging retail environment across the industry.
• The company highlighted stronger performance from its recurring, higher-margin businesses, including parts and service, finance and insurance, marina operations, Superyacht, and Newcoast Financial Services.
• MarineMax completed a refinancing of all term debt on improved terms, extending maturities to 2031 and boosting financial flexibility as it pursues selective growth opportunities.
• Management reaffirmed full-year fiscal 2026 guidance for adjusted EBITDA of $110 million to $125 million and adjusted EPS of $0.40 to $0.95, while lowering expectations for industry unit volumes and same-store sales as market conditions remain uneven.

MarineMax Stock Performance

Shares of NYSE:HZO traded down $0.42 on Thursday, hitting $32.50. The company's stock had a trading volume of 90,417 shares, compared to its average volume of 373,947. The stock's 50-day moving average is $34.54 and its two-hundred day moving average is $30.53. MarineMax has a 12 month low of $21.41 and a 12 month high of $38.14. The company has a market capitalization of $716.06 million, a price-to-earnings ratio of -11.06 and a beta of 1.58. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.32 and a current ratio of 1.18.

Analyst Ratings Changes

HZO has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of MarineMax from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, May 12th. Truist Financial upped their price target on MarineMax from $34.00 to $39.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Citigroup reissued a "buy" rating on shares of MarineMax in a research report on Friday, April 24th. Finally, B. Riley Financial cut shares of MarineMax from a "buy" rating to a "neutral" rating and set a $35.00 price target for the company. in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, MarineMax currently has an average rating of "Hold" and an average price target of $34.50.

Hedge Funds Weigh In On MarineMax

A number of institutional investors and hedge funds have recently bought and sold shares of HZO. State Street Corp grew its position in MarineMax by 11.0% in the fourth quarter. State Street Corp now owns 953,009 shares of the specialty retailer's stock valued at $23,091,000 after acquiring an additional 94,356 shares during the period. Invesco Ltd. raised its holdings in MarineMax by 115.6% in the second quarter. Invesco Ltd. now owns 716,078 shares of the specialty retailer's stock worth $18,002,000 after purchasing an additional 383,926 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of MarineMax by 22.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 592,471 shares of the specialty retailer's stock valued at $14,356,000 after purchasing an additional 109,241 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in MarineMax by 12.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 434,110 shares of the specialty retailer's stock worth $10,518,000 after purchasing an additional 49,579 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in MarineMax by 6.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 150,922 shares of the specialty retailer's stock worth $3,657,000 after purchasing an additional 9,366 shares during the last quarter. Institutional investors own 92.85% of the company's stock.

About MarineMax

MarineMax, Inc is a publicly traded company on the New York Stock Exchange under the ticker HZO and is one of the largest recreational boat and yacht retailers in the United States. The company markets new and used motor yachts, sailing yachts, sport boats and personal watercraft, acting as an authorized dealer for leading manufacturers. In addition to boat sales, MarineMax provides service and maintenance, parts and accessory sales, training and education, and marina operations.

Operating through a network of sales centers, service facilities and marinas, MarineMax serves coastal and inland markets across the continental U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.