Here are some financial results from leaders in the boating industry.
At a glance:
Brunswick Corporation: +7% (Mercury, Sea Ray, Simrad, Harris, Lund, Lowe, etc.)
Ferretti Group: +13.6% (Pershing, Riva, Itama, CustomLine, CRN, Ferretti, Wally)
MarineMax: -6%
Beneteau Group: -14.1% (Jeanneau, Beneteau, Prestige, Lagoon, Delphia, etc.)
Polaris: +11% (Bennington, Godfrey, and Hurricane)
Garmin: +12%
Here is a summary of the financial statements and/or latest half-year results for certain companies recently published online, as reported by TRADEONLYTODAY in an article by David Conway.
For the time being, sales of boats manufactured outside the United States and intended for the U.S. market have slowed—if not come to a near standstill—due to Mr. Trump’s tariffs. A 10% tariff is currently in effect, which, for the moment, gives an advantage to boats built within the United States—brands such as Sea Ray, Tiara, Cruisers Yachts, Boston Whaler, Cobalt, Monterey, Regal, Chaparral, Midnight Express, Intrepid, and Mastercraft, among others.
The situation is different for Canada; the vast majority of boats imported from Europe are exempt from customs duties, thanks to the Canada-Europe free trade agreement. However, boats arriving from countries such as China, Taiwan, Turkey, South Africa, or the United Arab Emirates are subject to a 9.5% Canadian customs duty upon entry into Canada.
It is also important to note that if a European-built boat currently located in the United States is purchased by a Canadian who intends to use it in Canada, it will be subject to a 9.5% customs duty when crossing the Canadian border. If the boat remains in the United States, however, no such duty applies.
For full details regarding the import or export of a boat, please consult a broker at Ita Yachts Canada
.
Below is an overview of the financial statements and/or recent half-year results for certain companies, as reported online by David Conway for *Trade Only Today*.
BRUNSWICK CORP. FINANCIAL STATEMENTS
Brunswick Corp. released its third-quarter results this morning. Consolidated net sales reached $1.45 billion, an increase of 7% compared to the same quarter of the previous year.
Brunswick Corporation brands include:
– Sea Ray
– Mercury and MerCruiser
– Bayliner
– Boston Whaler
– Harris
– Heyday
– Lowe, Lund, Princecraft
– Lowrance, Simrad
– Quicksilver
“Brunswick delivered another strong quarter, marked by excellent execution across the entire company. Financial performance exceeded expectations, with year-over-year revenue growth in all business segments for the fifth consecutive quarter. Operating margin expanded by 230 basis points, with improvements seen across all segments compared to the prior year,” said David Foulkes, CEO, in an earnings statement.
Compared to the third quarter of the previous year, Brunswick reported the following:
The “Propulsion” segment saw a 7% increase in revenue, driven by demand from original equipment manufacturers (OEMs) amid low inventory levels, as well as growth in sales of high-horsepower outboard engines.
The “Engine Parts and Accessories” segment recorded a 5% increase in revenue, supported by sustained recreational boating activity, market share gains in distribution, and broad-based regional growth.
The Navico Group saw its revenue grow by 6%, with gains across all its business areas, bolstered by demand from original equipment manufacturers (OEMs), aftermarket sales, new product launches, and the acquisition of new customers. The “Boats” segment saw a 9% increase in revenue, driven by the strength of high-end products and core model lines, as well as the continued momentum of the portfolio dedicated to accelerating business activity.
By David Conway, Tradeonlytoday
FERRETTI GROUP, Q3 Financial Statements.
Ferretti releases its third-quarter results.
The Italian manufacturer recorded a 13.6% increase in revenue following a “difficult first half,” while simultaneously lowering its full-year forecasts.
By David Conway, October 28, 2026, Tradeonlytoday
Ferretti Group returned to growth in the third quarter, with a 13.6% rise in revenue and a 6.6% increase in order intake, the Italian manufacturer announced on October 27.
The company attributes this rebound—which followed a challenging first half—to strong momentum seen during European boat shows. For the first nine months of 2026, net revenue reached 888.6 million euros (approximately 1.03 billion dollars), an increase of 0.2% year-on-year.
Order intake for this nine-month period totaled 664.9 million euros (739 million dollars)—a decline of 13.8% compared to the previous year, though an improvement over the 26.9% drop recorded in the first half.
In the third quarter, order intake reached €323.6 million ($360 million), compared to €303.6 million ($337 million) a year earlier.
Net profit for the nine-month period stood at €49.9 million ($55 million), down from €61 million ($68 million) a year prior, while the adjusted EBITDA margin shifted from 16% to 14.7%.
The Ferretti Group—which owns brands including Ferretti, Riva, Pershing, Itama, Wally, Custom Line, and CRN—noted that this quarter reflected both a commercial recovery and the persistence of headwinds. The company highlighted geopolitical uncertainty as well as longer decision-making cycles among clients.
“The third quarter demonstrated the strength of our brands, our products, and our teams. Following a challenging first half, order intake has returned to growth and revenue has improved, which reinforces our confidence in our 2026 revenue targets,” CEO Stassi Anastassov stated in a press release.
“However, growth alone is not enough. Our profitability remains below the level that the Ferretti Group can and should achieve. We are therefore revising our margin forecasts and implementing a concrete plan to improve performance.” »
Ferretti has confirmed its annual revenue forecast, ranging from €1.2 billion to €1.24 billion ($1.33 billion to $1.55 billion), but has revised its adjusted EBITDA forecast, which is now expected to fall between €174 million and €185 million ($193 million to $205 million).
Mr. Anastassov stated that the company is taking targeted action in three areas where performance needs to be improved—the Americas, the Middle East, and the superyacht segment—with a dedicated program for each.
MARINEMAX FINANCIAL STATEMENTS
(by David Conway, TradeOnlyToday)
MarineMax announced its results today for the fourth quarter and the full 2026 fiscal year, which ended on September 30.
The company recorded quarterly revenue of $520.1 million, compared to $552.2 million for the same period in the previous fiscal year.
It also reported a 5.7% decline in same-store sales, a 270-basis-point increase in gross margin—reaching 37.4%—and a net loss attributable to MarineMax of $13 million.
Gross profit rose to $194.3 million in the fourth quarter, up from $191.4 million—or 34.7% of revenue—a year earlier. For the full fiscal year, the company generated revenue of $2.2 billion, characterized by a 5.5% decline in comparable-store sales, a 240-basis-point increase in gross margin to 34.9%, and a net loss attributable to MarineMax of $8.2 million.
“Fiscal year 2026 demonstrated the resilience of MarineMax’s diversified business model, as well as the benefits of our strategic investments aimed at expanding our marine industry offerings and strengthening our presence in sustainable, higher-margin segments,” said Brett McGill, President and CEO, in a press release.
“Despite a challenging business environment, the contributions from the various operations within our portfolio helped offset market pressures, underscoring the effectiveness of our diversification strategy.”
As announced on August 10, MarineMax has entered into a definitive agreement with Safe Harbor, under which the latter will acquire all of MarineMax’s outstanding common shares for $53 per share in cash, representing an enterprise value of approximately $1.5 billion.
The transaction, which has been unanimously approved by the MarineMax Board of Directors, is expected to close by the end of the calendar year, subject to customary closing conditions, including shareholder approval.
GROUPE BENETEAU FINANCIAL STATEMENTS
On November 4, 2026, Groupe Beneteau released its revenue figures for the third quarter and the first nine months of the 2026 financial year.
Groupe Beneteau: Revenue falls by 14.1% in the third quarter
Groupe Beneteau brands:
– Beneteau and Jeanneau (sailing and motor)
– Prestige Yachts
– Lagoon
– Excess, Delphia, and Wellcraft
Key financial highlights from this release:
Revenue and commercial performance (Period ending September 30, 2026)
• 9-month revenue: €595.8 million, an increase of 3.7% as reported (+4.7% at constant exchange rates) compared to €574.4 million for the same period in 2025.
• Third-quarter (Q3) revenue: €146.6 million euros, representing a 14.1% decline (-14.9% at constant exchange rates).
This marked slowdown is attributed to a “wait-and-see” approach among buyers and dealers, prompted by the geopolitical climate (the conflict in the Middle East).
Analysis by segment (over 9 months)
• Sailing Division: 243.2 million euros (+7.3%). Sales of monohulls, bolstered by recent launches, have offset the slowdown in the multihull market.
• Powerboat Division: 323.6 million euros (-0.9%). The “dayboating” segment is showing signs of recovery, while the large motor yacht segment is suffering from increased caution within distribution networks.
Outlook and 2026 annual targets confirmed
Despite the downturn observed in the third quarter, Groupe Beneteau has fully reaffirmed its forecasts for the 2026 fiscal year:
• Expected consolidated sales: Between 860 and 900 million euros (compared to 848.6 million euros in 2025), representing annual growth of 4% to 9%, excluding U.S. operations currently being phased out.
• Recurring Operating Income (ROI): Expected to be positive for the full fiscal year (excluding the impact of U.S. operations, for which operating losses are capped at 9 million euros).
• Rebound in orders: Management highlighted a clear upturn in order intake starting in September, following the excellent reception of 18 new models unveiled at the Cannes Yachting Festival (notably the Lagoon 47 and the Jeanneau EX 34). POLARIS, Third-Quarter Financial Results
Polaris reports an 11% increase in total third-quarter revenue
The parent company of the Bennington, Godfrey, and Hurricane brands saw a 29% rise in marine segment sales, driven by demand for pontoon boats.
By David Conway, October 27, 2026
Polaris generated $133.4 million in revenue within its marine segment during the third quarter—a 29% increase over the $103.4 million recorded a year earlier—the Minneapolis-based manufacturer announced this morning.
The company, which owns marine brands including Bennington, Godfrey, and Hurricane, attributed this growth to a favorable product mix and an increase in pontoon boat deliveries.
These results were bolstered by $10 million in tariff refunds, which had a positive impact of $0.13 on adjusted earnings per share (EPS). Polaris posted a total net income attributable to the company of $38.4 million, a turnaround from the $16 million net loss recorded in the same quarter of the previous year—a period when the segment’s overall performance had been weighed down by weaker demand and restructuring efforts.
GARMIN FINANCIAL RESULTS
Garmin posts a record third quarter
Consolidated revenue reached $1.99 billion, an increase of 12% compared to the same quarter of the previous year. By David Conway: October 30, 2026
Founded in 1989 by Gary Burrell and Min Kao (the name is a portmanteau derived from their first names), Garmin Ltd. is a leading multinational technology company, recognized globally for its satellite navigation (GPS) solutions.
The company operates across five key strategic markets: sports/fitness, outdoor activities, aviation, automotive (original equipment manufacturing), and marine.
Focus on the Marine Sector
Although initially known for its consumer-grade portable GPS devices and sports watches (such as the Forerunner or fēnix lines), Garmin has become a major player in the global marine industry—earning numerous innovation awards in the process.
Its marine division offers an exceptionally comprehensive range of electronic equipment and onboard solutions for all types of vessels, from recreational boats to luxury yachts:
Chartplotters and fishfinders: State-of-the-art touchscreen multifunction displays (such as the GPSMAP and ECHOMAP series), combined with real-time sonar technologies (notably the LiveScope line).
Navigation and piloting: Marine autopilot systems, radar, and wind instruments for sailboats.
Electric motors: Trolling motors (such as the Force® and Force® Pro) designed for fishing and precise vessel control.
Audio and entertainment: High-performance audio systems (bolstered by the acquisition of specialized brands like JL Audio).
Cartography and software: Integration of premium marine charts and connected navigation applications (Navionics and ActiveCaptain).
Connected devices for mariners: Specialized smartwatches (such as the quatix line) designed to interact directly with a boat’s displays and systems.
This description was generated using GEMINI (AI).
Garmin has announced record consolidated revenue of $1.99 billion for the third quarter—a 12% year-over-year increase—along with record operating income of $612 million, up 34%. Gross and operating margins expanded to 63.3% and 30.8%, respectively, compared to the same quarter last year.
“We delivered another quarter of record operating results, driven by strength across our various markets and product categories, with significant contributions from recent product launches,” said Cliff Pemble, President and CEO, in a press release. “Our results were bolstered by excellent operational execution, leading to a record consolidated gross margin and outstanding operational performance. Given our year-to-date results and current momentum heading into the critical holiday season, we are raising our full-year 2026 guidance.”
Revenue in the Marine segment grew by 16% in the third quarter, fueled by broad-based growth across several categories, most notably sonar. Gross and operating margins reached 64% and 30%, respectively, generating $94 million in operating income.
“During the quarter,” Mr. Pemble noted, “we launched the next-generation LiveScope 2, which provides real-time sonar imagery with improved range and clarity. We also expanded our sailing portfolio with the GMI™ 40 instrument display and the SmartDrive brushless linear helm actuator. Furthermore, we brought to market the JL Audio A60 series of head units, as well as…”than the M200 speaker systems.”
By David Conway, Tradeonlytoday
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