New article about sales over the past few months in the United States and the revenues of some of the leading companies in the boating industry.
(Data published as of August 1, 2026, in the TradeOnlyToday publication)
In the United States, organizations report on the health of the boating industry by publishing numerous statistics.
The financial accessibility of boating is the major challenge in the boat market. Of course, access to financing remains a very important concern for buyers.
In many segments, boat buyers are showing interest in more affordable options, such as recent and nearly new used boats.
Motorboat registrations have generally declined slightly over the past 12 months. According to surveys, this represents a decrease of 4.3%.
Here are the key figures for May 2026: (see below in this article for a complete analysis of these figures).
Runabouts: Down 12.5%
Pontoons: Down 8.1%
Fishing boats: Up 1.2%
Large fishing boats: Down 4.5%
Yachts/cruisers: Down 6.5%
Personal watercraft: Down 8.4%
Now let’s look at the results of the major companies in the boating sector:
The GARMIN Group: Up 14% in the second quarter
The Beneteau Group: Up 12% in the first half of the year
The FERRETTI Group: Down 5.6% in the first half of the year
Here is the complete data analysis for these companies.
Let’s start with FERRETTIGROUP
The Ferretti Group announces a mixed first half
The Italian manufacturer recorded net sales of $667.4 million for its new yachts, a 5.6% year-over-year decrease.
The Ferretti Group owns the following brands: Wally, Ferretti Yachts, Pershing, Itama, Riva, CRN, and Custom Line.
Source: David Conway, TradeOnlyToday publication as of August 3, 2026
The Ferretti Group’s board of directors approved the manufacturer’s half-year financial report for the period ending June 30. This report indicates net sales of €585.6 million ($667.4 million) for its new yachts, a 5.6% year-over-year decline. However, the decrease eased in the second quarter compared to the first, the company indicated last week.
Net income amounted to €37.9 million ($43 million), compared to €43.6 million ($49.6 million) in the same period of the previous fiscal year. The group posted an adjusted EBITDA margin of 15.8%, confirming its strong profitability.
“My first two months at the Ferretti Group have been dedicated to listening, learning, and understanding the company from the inside,” said Stassi Anastassov, Global CEO, in the press release. “The conclusion is unequivocal: Ferretti remains an exceptional company, with prestigious brands, talented employees, and one of the strongest balance sheets in our industry. At the same time, the first half confirms that we are operating in a more challenging market than in recent years.” Customer decision cycles have lengthened, competition has intensified in several segments, and order intake remains below the levels needed to rebuild our order backlog at the desired pace.
Both order intake and the net order backlog have decreased compared to the first half of 2025. Ferretti indicated that it has lowered its guidance for the fiscal year as a precaution, given the ongoing geopolitical uncertainty, particularly in the Middle East, and a broader macroeconomic environment that has lengthened negotiation processes.
Anastassov clarified that Ferretti’s challenge is “primarily commercial rather than financial,” emphasizing that the company continues to generate significant cash flow and maintain a solid financial position. He stated that Ferretti had launched initiatives over the past two months to strengthen its commercial execution, improve the customer experience, consolidate product governance, and increase organizational accountability, with the goal not only of improving results for the second half of 2026, but also of positioning the group “for stronger and more sustainable growth in 2027 and beyond.”
Source: David Conway of TradeOnlyToday
Garmin reports record second quarter
The marine segment performed particularly well, with revenue up 14% to $341.4 million.
Source: Gary Reich of TradeOnlyToday as of July 29, 2026
Garmin announced today record results for the second quarter, with consolidated revenue up 11% to approximately $2.02 billion and operating income up 30% to $616 million.
Garmin said in a statement that the marine segment delivered one of the strongest performances of the quarter, with revenue increasing 14% to $341.4 million, compared with $299.3 million a year earlier. Operating income for the marine segment also increased, rising 59% year over year to nearly $100 million, while gross and operating margins reached 61% and 29%, respectively.
Garmin attributes this strong growth in the marine sector to “widespread growth across many categories.” The company also launched new products during the quarter: the Signal VHF radios, featuring color touchscreens and enhanced communication tools, and the next-generation LiveScope 2 sonar.
For the first half of 2026, revenue for the marine segment reached $696.4 million, up 13% from $618.7 million in the same period last year. Operating income rose to $190.6 million, compared to $149.8 million, confirming the sector’s continued momentum rather than simply a quarterly fluctuation.
A slight hitch.
“Every business segment contributed to these impressive results,” said Cliff Pemble, President and CEO, in a statement, emphasizing that the first-half performance justifies the upward revision of the full-year guidance.
Aside from the marine sector, Garmin’s other segments posted mixed results: the Aviation segment grew by 8%, the Automotive (OEM) segment increased slightly by 1% and returned to profitability, while revenue in the Outdoor segment declined by 2% due to weaker demand in the consumer automotive and adventure watch categories. The company’s gross margin improved by 360 basis points to 62.4%, primarily due to approximately $21 million in customs duty refunds.
Garmin closed the quarter with approximately $4.4 billion in cash and marketable securities and generated $276 million in free cash flow, while continuing its quarterly dividend program and share repurchases.
The forecast for the fiscal year is now $8.05 billion in annual revenue and $10 pro forma earnings per share.
Source: Gary Reich of TradeOnlyToday
Beneteau Group reports 12% revenue growth in the first half
The company generated $515 million in revenue, up 12% year-over-year.
Beneteau Group includes: Jeanneau, Prestige, Lagoon, and others…
Source: David Conway of TradeOnlyToday, July 29, 2026
Beneteau Group generated €452.3 million ($515 million) in revenue in the first half of 2026, up 12% year-over-year. Growth slowed in the second quarter to 3.4%, as dealers cautiously managed their inventories amid the ongoing conflict in the Middle East. Second-quarter revenue reached €282.7 million ($322 million). Retail sales rose 14%, outperforming the market in all segments, a performance the company attributes to the success of models launching in 2025.
“The first half of the year underscores the relevance of our product strategy: retail sales achieved double-digit growth and outperformed the market in all segments,” said CEO Bruno Thivoyon in a press release. “However, the ongoing conflict in the Middle East during the second quarter prolonged the wait-and-see approach of some boaters, as well as the cautious inventory management by dealers. We are entering the 2026/2027 season with the planned launch of 24 new models.” The group therefore remains fully committed to ensuring growth throughout the year.
The company confirmed that it is maintaining its June 15 decision to halt production at its Cadillac, Michigan site in the third quarter, and to divest that site as well as the Four Winns, Glastron, and Scarab Jet brands. Beneteau stated that this decision follows structural weakness in the bowrider and jetboat segments, worsened by the conflict in the Middle East, and specified that the three brands posted combined operating losses of nearly €30 million ($34.1 million) in 2024-2025. The company said that this divestiture does not affect its broader ambitions in the U.S. market, where its other brands grew by 29% in the first half.
Beneteau stated that its order book for deliveries this year showed a slight increase at the end of June compared with the previous year—excluding the brands affected by the divestiture—versus growth of more than 10% at the end of February, before the war in Iran. Nevertheless, the company reaffirmed its commitment to achieving full-year sales growth and is counting on the launch of 24 new models for the 2026-2027 season to support demand ahead of the Cannes Yachting Festival in September.
Sales showed a slight increase at the end of June compared to the previous year – excluding brands affected by the divestiture – versus growth of over 10% at the end of February, before the Iran-Iraq War. The company nevertheless reaffirmed its commitment to achieving sales growth for the full year and is counting on the launch of 24 new models for the 2026-2027 season to support demand in the lead-up to the Cannes Yachting Festival in September.
Feel free to contact us with any questions related to the boating industry. The brokers at Ita Yachts Canada and its ProprioBateau division are familiar with the boating world.
In conclusion
Statistics regarding sales in the United States.
Affordability: a major issue in the boat market
In many segments, boat buyers are showing interest in more affordable options.
Source: David Conway of TradeOnlyToday publication as of July 31, 2026
Powerboat registrations have been slowly approaching a more normal average in recent months.
Registrations of powerboats over 15 feet (4.57 meters) in the United States declined 4.3% through May compared to the 12-month moving average, marking another consecutive month of improvement. Total registrations across all segments totaled 213,549.
This new boat registration data comes from Info-Link, a Florida-based company that compiles registration figures from the Coast Guard and individual states.
In the May sales report, tugboat sales fell 10%, totaling 7,670 units. Runabout sales fell 12.5% to 13,486 units, and pontoon sales declined 8.1% compared to their 12-month average, with 47,108 units sold.
The freshwater fishing boat segment grew 1.2% in May compared to its 12-month average, with a total of 54,723 units sold, also exceeding the 12-month moving average.
“Freshwater fishing continued to perform strongly for the 2026 model year,” said Russell Baqir, senior vice president of business development at Northpoint Commercial Finance. “Inventory turnover averaged twice during the model year. The aging rate is less than 15%. The average cost in this segment has doubled since 2019. However, product pricing remains affordable compared to other segments.” Recent deliveries, according to the NMMA (National Marine Manufacturers Association), are exceeding retail sales, which poses a risk, and we have seen a slight slowdown in inventory growth.
In May, another segment continued to grow above its 12-month average: unclassified/other watercraft, which includes houseboats, fliteboards, hovercraft, and other watersports craft. This category saw a 6.8% increase over its 12-month average, with 5,269 units sold.
In the May report, sales of offshore fishing boats declined 4.5% below their 12-month average, for a total of 21,438 units sold, marking another consecutive month of improvement. “Unfortunately,” Baqir explains, “this segment continues to lag behind the overall market.” Looking at NMMA shipping data, we see that offshore fishing boat shipments exceeded retail sales in 2024 and 2025. This is no longer the case; shipments are significantly lower than retail sales due to manufacturers’ production cuts and dealers holding inventory.
Orders on Hold
“Normally, we would expect inventory turnover to increase due to lower volumes. However, this rate remains below 1.5, and inventory aging for more than 12 months is approaching 25%. We anticipated a recovery in this segment, which has not materialized, given our recent portfolio clearances as a percentage of our portfolio. The cost of inventory in this segment has more than doubled. Consumers will turn to cheaper options if they cannot afford the cost of new products, exacerbated by rising interest rates.” Used car inventories will fill the gap until buyers on credit can finance the purchase of new vehicles.
The yachts/cruisers category is an exception to the overall registration trend. It recorded a 6.5% decline over 12 months, with a total of 4,556 units, marking another decrease compared with the previous month. “The yacht market has undergone significant changes since 2018, when Sea Ray exited this segment,” explains Baqir. Foreign manufacturers have worked to fill the gap, but retail sales have not returned to their historical levels. However, those figures had been inflated by products sold at a loss. Admittedly, yachts and cruisers overlap, but the life cycle and aging of cruisers are better managed. In addition, cruiser inventories are declining more quickly than yacht inventories.
“The yacht market has seen significant changes since 2018, when Sea Ray withdrew from the sector,” explains Baqir. Foreign manufacturers have tried to fill the gap, but retail sales haven’t returned to their historical levels. However, these figures were inflated by products sold at a loss. While yachts and cruisers overlap, the lifecycle and aging of cruisers are better managed. Furthermore, cruiser inventories are declining faster than those of yachts.
The yacht/cruiser category hasn’t seen the same growth as overall registrations.
Among other categories, in May, personal watercraft sales were 8.4% below their 12-month moving average, totaling 59,299 units.
Among the major state markets, Florida saw a 5% decline compared to its yearly average, with 27,799 units. Texas saw a 3% decline, to 15,854 units. Michigan was also below its annual average, down 3% at 11,282 units, while Minnesota plummeted 11% to 8,665 units.
In May, the Southeastern states once again posted strong growth. Georgia saw a 6% increase over its annual average, with 8,403 units sold. Alabama experienced a 5% increase, with an annual average of 7,435 boats sold. Mississippi, meanwhile, rose 10%, with 2,841 units sold year-over-year.
Freshwater fishing is a significant driver in these markets, explains Baqir: “Furthermore, when you analyze historical consumer confidence by region, the Southeast generally shows above-average growth, thanks to strong population growth, a dynamic labor market, and lower inflation.”
Other states that saw increases in May included Idaho (+11%, or 2,075 units), West Virginia (+4%), and Rhode Island (+12%) over the same period.
Overall, Baqir anticipates a gradual improvement in the boating market. Dealer defaults decreased throughout the season, he notes. The inventory turnover rate is approaching 1.7, compared to 1.5 last year.
“Inventory aging management has improved significantly,” he explains. “The industry’s health is improving despite the shrinking market. One aspect not reflected in boat registration numbers is the desire of original equipment manufacturers (OEMs) to expand their high-margin products over the past decade, a trend accelerated by the housing bubble linked to Covid-19.” As manufacturers shifted their focus to higher-margin products, production of lower-margin, high-volume models declined. While this improved short-term operational efficiency for OEMs, it also reduced options for value-conscious buyers.
“This dynamic contributed to the relative success of aluminum freshwater fishing products in a shrinking market,” he adds, “because this segment continued to offer affordable entry-level options.”
Source: David Conway of TradeOnlyToday
The brokers at Ita Yachts Canada and its ProprioBateau division are available to discuss industry trends and best strategies for buying or selling a boat and/or yacht. Please feel free to contact us at 514-521-1221 (French or English).
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