MarineMax F&I revenue ticks up 0.9% YoY

Marine retailers reported mixed F&I revenue and sales in the first fiscal quarter of 2026, offset by inventory changes. F&I product revenue made up 2.9% of MarineMax ’s total revenue for its first fiscal quarter at $14.7 million, up 0.9% year over year, according to the company’s Jan. 29 10-Q filing with the SEC . Total revenue rose 7.8% YoY to $505.2 million in Q1. The Clearwater, Fla.-based retailer’s same-store sales rose more than 10% YoY in its Q1, which ended Dec. 31, 2025, according to a Jan. 29 earnings release. The company did not provide unit sales volume, but Chief Executive and President William Brett McGill said during the Jan. 29 earnings call that strong sales helped MarineMax increase revenue YoY despite weakened consumer sentiment from broad uncertainty and margin pressure ahead of winter. “Margins on new- and used-boat sales remained well below historical levels. However, our same-stores sales performance was supported by our premium brand offerings and the migration to larger products as well,” he said. OneWater Marine Buford, Ga.-based retailer OneWater Marine ’s F&I revenue dropped 5.4% YoY in its fiscal first quarter to $8.9 million, or 2.3% of total revenue, according to its Jan. 29 earnings release. Total revenue landed at $380.6 million, up 1.3% YoY. Same-store sales were flat YoY, according to the release. New-boat revenue dropped 5.9% YoY to $233.3 million, while used-boat revenue climbed 24% YoY to $70.4 million, according to the release. Going forward, OneWater expects it will be “outperforming the industry” with better used-vehicle availability, but expects same-store sales to be flat overall due to “brand rationalization headwinds,” Chief Operating Officer and Chief Financial Officer Jack Ezzell said during OneWater’s Jan. 29 earnings call. Inventory mixed Inventory trends were also mixed for each retailer. OneWater Marine’s total inventory dropped 5.5% YoY to $601.5 million, according to its release. Meanwhile, MarineMax’s inventory totaled $867.9 million, up 0.1% YoY, according to its filing. OneWater’s inventory decline was part of a strategy to optimize higher-margin inventory, founder and Executive Chairman of the Board Philip Singleton said during the earnings call. “Step 1 is inventory gets clean. Step 2 is retail manages their new inventory well,” he said. “They’ve got new fresh stuff; margins start to increase.” OneWater’s gross profit margin rose 110 basis points (bps) YoY to 23.5%, according to the release. By comparison, MarineMax’s gross profit margin fell to 31.8% of revenue, down from 36.2% a year prior, according to MarineMax’s release. That decline came as “gross margins today are more than 400 basis points below what would be considered a normal historical margin,” MarineMax’s Chief Financial Officer Michael McLamb said during the earnings call. Shares of MarineMax Inc. [NYSE: HZO] were trading at $27.03 as of market close today, up 9.7% from market open MarineMax has a market capitalization of $595.4 million. Shares of OneWater Marine Inc. [NYSE: ONEW] were trading at $13.28 as of market close today, up 3% from market open. OneWater Marine has a market capitalization of $220 million. Auto Finance News will present multiple invaluable events for industry professionals in 2026, starting with Auto Finance Summit East and Auto Finance Capital Summit in May. To see event agendas and register, visit autofinance.live .

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MarineMax F&I revenue ticks up 0.9% YoY

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