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

MarineMax (NYSE:HZO) 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 quarter in the prior year, the business earned ($2.42) earnings per share. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. 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 Down 1.3%

HZO traded down $0.42 during mid-day trading on Thursday, reaching $32.50. 90,417 shares of the stock were exchanged, compared to its average volume of 373,947. MarineMax has a 1 year low of $21.41 and a 1 year high of $38.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.32 and a current ratio of 1.18. The stock has a market capitalization of $716.06 million, a PE ratio of -11.06 and a beta of 1.58. The company has a 50 day moving average price of $34.54 and a two-hundred day moving average price of $30.53.

Analyst Upgrades and Downgrades

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

Institutional Trading of MarineMax

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

MarineMax Company Profile

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.