A very important American multi-dealership announces its results for the third quarter of 2025
The MARINEMAX Group is the largest boat dealership, not just in the United States, but in the world. It has more than 70 points of sale and more than 65 marinas (around the world). MarineMax also owns the Fraser Yachts group and the brokerage firm Northrop & Johnson.
For several months now, this group has also become the owner of the CRUISERS YACHTS brand, well-known in North America. Brands present at this dealership (for new):
Aquila (import)
Aviara
Azimut Yachts (import)
Bertram
Boston Whaler
Cruisers Yachts
Galeon (import)
Ocean Alexander (import)
Saxdor (import)
Searay
Third-quarter revenue for this group (July 25, 2025)
Article from the publication: Tradeonlytoday
Third-quarter revenue declined 13.3% year-over-year to $657.2 million, and same-store sales declined 9%.
MarineMax reported a net loss of $52.1 million for the third quarter of fiscal 2025, primarily due to a $69.1 million non-cash goodwill impairment charge in its production segment. Quarterly revenue declined 13.3% year-over-year to $657.2 million. Same-store sales fell 9%.
“Economic conditions have been challenging throughout the year, with increased consumer caution since April, particularly among potential new boat buyers,” said Brett McGill, President and CEO, in a statement.
Based on quarterly performance and market conditions, MarineMax has lowered its full-year guidance.
“While our near-term outlook is cautious due to ongoing economic uncertainty, we are confident that our overall strategy will foster operational resilience,” McGill said in a statement. “Our strong balance sheet positions us well to navigate the current market volatility. As the recovery takes hold, we believe our long-term earnings power will be significantly enhanced by our growing presence in higher-margin sectors and strong consumer demand for the boating lifestyle.” »
Source: Trade Only Today, by David Conway, July 25, 2025
ANALYSIS
When the leading multi-dealer in the United States shows this downward sales environment, it’s easy to imagine the situation for Canadian and European dealers.
The latest news (July 28, 2025) indicates that tariffs on boats imported from Europe entering the United States will be subject to a 15% tariff starting August 1, 2025. This is more than the 10% (currently) but less severe than the 30% (which the White House was talking about imposing).
This partly explains the market situation in the United States. In Canada, our free trade agreement with Europe spares us import tariffs. But we are affected by the 10% luxury tax. For the time being, the free trade agreement known as CUSMA is still in effect between Canada and the United States, at least for boats. Furthermore, Canada does not currently impose punitive tariffs on boat imports from the United States to Canada.
BUYER’S MARKET
We are currently clearly in a buyer’s market, but it must be said that buyers are indeed favored, but they are still fewer in number. Moreover, given the escalating tariffs imposed by the White House (President Trump), this greatly discourages the acquisition of new boats.
(Traffic on the docks during the Fort Lauderdale Boat Show, will there be as many buyers this year at the 2025 edition at the end of October?)
So, given these factors (economic situation and new boat prices), buyers are focusing on the recent and especially very recent (less than 5 years old) used boat market.
There are many sellers and few buyers, so this clearly favors buyers. But market segments must also be taken into account depending on the size of the boat sought. The supply can vary greatly.
This also results in more resilient prices for used boats, especially the most recent ones (2020 and older). Since dealers have few or no new boat offers in stock, this leads to more sustained interest in used boats, especially those 50 feet and older.
For this segment, sellers have tended to maintain their prices in recent weeks and even increase their asking prices slightly, given a certain scarcity on the market, particularly for recent and very recent boats.
The supply of boats from 2015 and earlier is less affected by this, given the much more abundant supply, particularly in the United States.
So, if you’re planning to buy a boat, you need to take these factors into account. It seems that all countries will have tariffs of 10% to 30% when importing into the United States. This will further encourage a shift toward pre-owned boats.
The brokers at Ita Yachts Canada are familiar with transactions outside of Canada. We are well-versed in this market. Unfortunately, it doesn’t look like the situation will improve in 2026, so contact us to discuss your project now.
An American multi-dealership announces its results for the third quarter of 2025
The MARINEMAX Group is the largest boat dealership, not just in the United States, but in the world. It has more than 70 points of sale and more than 65 marinas (around the world). MarineMax also owns the Fraser Yachts group and the brokerage firm Northrop & Johnson.
For several months now, this group has also become the owner of the CRUISERS YACHTS brand, well-known in North America. Brands present at this dealership (for new):
Aquila (import)
Aviara
Azimut Yachts (import)
Bertram
Boston Whaler
Cruiser Yachts
Galeon (import)
Ocean Alexander (import)
Saxdor (import)
Searay
Third-quarter revenue for this group (July 25, 2025)
Article from the publication: Tradeonlytoday
Third-quarter revenue declined 13.3% year-over-year to $657.2 million, and same-store sales declined 9%.
MarineMax reported a net loss of $52.1 million for the third quarter of fiscal 2025, primarily due to a $69.1 million non-cash goodwill impairment charge in its production segment. Quarterly revenue declined 13.3% year-over-year to $657.2 million. Same-store sales fell 9%.
“Economic conditions have been challenging throughout the year, with increased consumer caution since April, particularly among potential new boat buyers,” said Brett McGill, President and CEO, in a statement.
Based on quarterly performance and market conditions, MarineMax has lowered its full-year guidance.
“While our near-term outlook is cautious due to ongoing economic uncertainty, we are confident that our overall strategy will foster operational resilience,” McGill said in a statement. “Our strong balance sheet positions us well to navigate the current market volatility. As the recovery takes hold, we believe our long-term earnings power will be significantly enhanced by our growing presence in higher-margin sectors and strong consumer demand for the boating lifestyle.” »
Source: Trade Only Today, by David Conway, July 25, 2025
ANALYSIS
When the leading multi-dealer in the United States shows this downward sales environment, it’s easy to imagine the situation for Canadian and European dealers.
The latest news (July 28, 2025) indicates that tariffs on boats imported from Europe entering the United States will be subject to a 15% tariff starting August 1, 2025. This is more than the 10% (currently) but less severe than the 30% (which the White House was talking about imposing).
This partly explains the market situation in the United States. In Canada, our free trade agreement with Europe spares us import tariffs. But we are affected by the 10% luxury tax. For the time being, the free trade agreement known as CUSMA is still in effect between Canada and the United States, at least for boats. Furthermore, Canada does not currently impose punitive tariffs on boat imports from the United States to Canada.
BUYER’S MARKET
We are currently clearly in a buyer’s market, but it must be said that buyers are indeed favored, but they are still fewer in number. Moreover, given the escalating tariffs imposed by the White House (President Trump), this greatly discourages the acquisition of new boats.
(Traffic on the docks during the Fort Lauderdale Boat Show, will there be as many buyers this year at the 2025 edition at the end of October?)
So, given these factors (economic situation and new boat prices), buyers are focusing on the recent and especially very recent (less than 5 years old) used boat market.
There are many sellers and few buyers, so this clearly favors buyers. But market segments must also be taken into account depending on the size of the boat sought. The supply can vary greatly.
This also results in more resilient prices for used boats, especially the most recent ones (2020 and older). Since dealers have few or no new boat offers in stock, this leads to more sustained interest in used boats, especially those 50 feet and older.
For this segment, sellers have tended to maintain their prices in recent weeks and even increase their asking prices slightly, given a certain scarcity on the market, particularly for recent and very recent boats.
The supply of boats from 2015 and earlier is less affected by this, given the much more abundant supply, particularly in the United States.
So, if you’re planning to buy a boat, you need to take these factors into account. It seems that all countries will have tariffs of 10% to 30% when importing into the United States. This will further encourage a shift toward pre-owned boats.
The brokers at Ita Yachts Canada are familiar with transactions outside of Canada. We are well-versed in this market. Unfortunately, it doesn’t look like the situation will improve in 2026, so contact us to discuss your project now.
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