MarineMax, Inc. (HZO), a recreational boat dealer, on Thursday reported a net loss for the first quarter, reflecting continued uncertainty and competitive dynamics, including elevated promotional activity, as the industry continues to right-size inventory. In addition, on adjusted basis, the company's adjusted loss misses Street estimates.
For the three-month period to December 31, 2025, the company posted a net loss of $7.9 million, or $0.36 per share, compared with a net income of $18.1 million, or $0.77 per share, in the prior-year period.
Excluding items, loss stood at $4.6 million, or $0.21 per share, as against income of $4.1 million, or $0.17 per share, a year ago.
On average, 7 analysts polled had forecast the company to report a loss of $0.08 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue moved up to $505.2 million from $468.5 million in the prior-year period, which was adversely impacted by Hurricanes Helene and Milton.
Looking ahead, Brett McGill, CEO of MarineMax, said: "Although conditions across the recreational marine industry remain challenging, we expect activity to gradually improve as we move into the spring selling season. Early indications from this year's retail boat shows have been encouraging, and our positioning in the premium segment should enable us to outperform the broader market as conditions improve."
Citing current business conditions, retail marine industry trends, and other factors, the company has reaffirmed its annual earnings outlook.
For the full year, MarineMax still anticipates adjusted income of $0.40 to $0.95 per share, in line with Street view of $0.71 per share.
Excluding items, annual EBITDA is projected to be in the range of $110 million to $125 million.
HZO was down by 3.16% at $26.01 in the pre-market trade on the New York Stock Exchange.
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