MarineMax, OneWater Q2 F&I mix offsets softer demand

MarineMax and OneWater Marine reported lower revenue in the fiscal second quarter, as finance and insurance and a higher-margin product mix failed to offset continued pressure on boat demand. Clearwater, Fla.-based MarineMax’s revenue fell 16.5% year over year to $527.4 million for the quarter ended March 31, according to the company’s April 23 10-Q filing with the SEC . The company also posted a net loss of $2.6 million, compared with net income of $3.3 million in fiscal Q2 2025. Finance and insurance (F&I) products accounted for 3.9% of revenue, or $20.6 million, up 50 basis points (bps) in revenue share but down 4.3% in value YoY, according to the filing. New-boat sales declined as a share of revenue to 62.3% at $328.6 million, down 200 bps in revenue share and 19.1% in revenue YoY. “Finance and insurance, parts and service, brokerage, superyacht services and marinas once again provided balance and margin stability,” Chief Executive Brett McGill said during the April 23 earnings call. Inventory declined 13.2% YoY to $845.4 million, according to the filing. As a result, floorplan borrowing dropped 16% YoY to $689.9 million. OneWater Marine revenue falls 9% YoY Buford, Ga.-based OneWater also reported a revenue decline, down 8.5% YoY to $442.3 million in its fiscal second quarter, driven by lower new-boat sales and softer same-store demand, according to its April 30 earnings release. New-boat revenue fell 12.1% YoY to $272 million in the quarter ended March 31, according to the release. Still, pre-owned boat sales revenue increased 5.2% YoY to $94.4 million as consumers shifted toward lower-priced options, CEO Anthony Aisquith said during the April 30 earnings call. “Across our dealers, premium categories and brands continue to perform better, which is encouraging considering our portfolio's strong skew toward luxury brands,” he said. “Importantly, finance penetration remains within our target range, with over 60% of our customers choosing to finance a portion of their purchase with us.” F&I income declined 6.5% YoY to $14 million, according to the release. Inventory declined 8.5% YoY to $551.4 million amid the company’s strategy to streamline its portfolio, Austin Singleton , executive chairman of OneWater, said during the call. “Our inventory continues to be in the best condition it has been in years with a healthy mix and age profile supported by disciplined production from our OEM partners,” he said. “We remain focused on enhancing profitability and reducing balance sheet leverage.” Market outlook U.S. boat registrations declined 9% YoY in March, according to Statistical Surveys data cited by a BMO Capital Markets research note released April 24. Dealer inventory is estimated to be up 7% YoY entering spring selling season, as some lingering pressures persist despite improved ordering discipline. Shares of MarineMax Inc. [NYSE: HZO] were trading at $29.68 as of market close today, up up 3.2% from market open. Over the past five days, shares were down 0.3%. MarineMax has a market capitalization of $653.8 million. Shares of OneWater Marine Inc. [NYSE: ONEW] were trading at $9.80 as of market close today, up 3% from market open. Over the past five days, shares were down 11.9%. OneWater Marine has a market capitalization of $162.8 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, OneWater Q2 F&I mix offsets softer demand

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