MarineMax F&I revenue up 15%

Marine retailer MarineMax ’s finance and insurance revenue increased in its fiscal year second quarter 2025 as net sales grew even amid declining Brunswick product sales. MarineMax is the largest retailer of Sea Ray and Boston Whaler recreational boats, manufactured by Brunswick, sales of which accounted for about 20% of MarineMax’s revenue in fiscal year 2024, according to the company’s April 24 10-Q filing with the Securities and Exchange Commission . Finance and insurance product revenue accounted for 3.4% of MarineMax’s total revenue during the quarter, ended March 31, at $21.5 million, up 15% year over year and 48.3% quarter over quarter , according to an Auto Finance News analysis of the filing. Total revenue came in at $631.5 million, up 8.3% YoY, according to the filing. Revenue hit a record as MarineMax leaned on digital marketing tools, data analytics and technology to drive customer engagement and volume in a competitive market, President and Chief Executive Brett McGill said during the company’s April 24 earnings call. Clearwater, Fla.-based MarineMax’s same-store sales grew 11% during the quarter coming off hurricane-related disruptions in Q1 and “benefiting from more aggressive pricing and targeted promotional initiatives in collaboration with our manufacturing partners,” McGill said. Brunswick boat sales down 12.6% Mettawa, Ill.-based manufacturer’s Brunswick’s net boat sales totaled $372.1 million, down 12.6% YoY, in its first quarter, ended March 29, according to the company’s April 24 earnings release. Total net sales declined 10.5% YoY to $1.2 billion. Brunswick’s net sales declined YoY largely due to a dip in wholesale ordering by manufacturers and dealers, according to an April 24 8-K filing with the SEC. However, U.S. boat sales were strong as “customer builders increased production levels ahead of the primary retail season,” Chairman and Chief Executive David Foulkes said on the company’s April 24 earnings call. Tariff caution MarineMax is “approaching the spring selling season with increased caution” amid tariffs, McGill said. “We are tempering our expectations for near term growth and recognize that the pace of industry recovery may be slower and more uneven than previously anticipated.” Brunswick anticipates incremental net tariff-related costs between $100 million and $125 million in 2025, despite efforts to reduce its exposure to China-based suppliers dating back to 2017 and the company’s production of a “large majority” of its goods in the United States, Foulkes said. “The uncertain tariff environment has become an elevated consideration in a challenging macroeconomic backdrop and is contributing to declining consumer sentiment and more uncertainty in U.S. [ Federal Reserve ] policy and the trajectory of interest rate reductions,” he said. Inventory dips Inventory volumes declined for Brunswick and MarineMax during the most recent quarter, in line with industry trends. Brunswick’s net inventories totaled $1.4 billion in Q1, down 13% YoY and 3.9% QoQ, according to its 8-K filing. The company’s supply of finished goods declined 15.3% YoY to $870.5 million, up 2.8% QoQ. “One of the big drivers of our cash flow success in the quarter is inventory and working capital usage being down,” Ryan Gwillim , executive vice president, chief financial officer and chief strategy officer at Brunswick, said during the call. “We are keen on keeping inventory to match our production.” U.S. inventory in Brunswick’s channel ended at 35.6 weeks on hand during the quarter, down from 36.1 weeks a year ago, with the manufacturer expecting inventory on hand to be below normal levels by the summer, according to an April 24 BMO Capital Markets research note. The company’s Q1 results were better than BMO’s adjusted expectations for sales and supply levels. MarineMax’s inventories tallied $973.4 million in Q2 compared with $932.6 million in fiscal Q2 2024 and $1 billion in fiscal Q1 2025, according to the 10-Q filing. “Builders are not building very much product right now,” Mike McLamb , chief financial officer at MarineMax, said during the earnings call. “Even with weakened boat sales, it gives the opportunity for the aged product to continue to improve.” Shares of MarineMax Inc. [NYSE: HZO] were trading at $22.89 as of market close today, up 1% from market open. MarineMax had a market capitalization of $519.8 million. Shares of Brunswick Corp. [NYSE: BC] were trading at $46.86 as of market close today, down 2.1% from market open. Brunswick had a market capitalization of $3.1 billion. Auto Finance Summit East 2025 is set for May 12-14 at the JW Marriott Nashville featuring fireside chats with Santander Consumer USA and Chase Auto. Register here for the event .

MarineMax F&I revenue up 15%

Brunswick net sales decreased 10.5%

2 senior CFPB officials ‘still working’ on auto finance matters, source says

New-vehicle loan rates fall 27 bps (Big Wheels)

Related Posts

Yamaha raises $400M through inaugural powersports, marine floorplan ABS deal

BRP cuts FY27 guidance by 46% as tariffs pressure margins

Kunes Auto’s first CTO aims to unify auto, RV technology operations

Octane inks $350M forward-flow deal with Nuveen

New-vehicle loan rates fall 27 bps (Big Wheels)

Stay Informed with Our Newsletters

The Roadmap Podcast

SPONSORED

Why credit unions give dealers an edge in today’s auto market

Driving better decision-making across auto finance operations with SAS

Auto finance’s first line of defense: Raising the standard in integrated software partnerships and data strategy

Retrieve your password