Core Insights - MarineMax reported a first quarter revenue of $505.2 million for fiscal 2026, reflecting a 7.8% increase from $468.5 million in the prior year, despite a challenging retail environment [1] - The company achieved a gross margin of 31.8%, supported by strategic expansion into higher-margin businesses, although retail margin pressure persisted [1] - Same-store sales grew over 10% year-over-year, indicating resilience in consumer demand [1] Financial Performance - Adjusted EBITDA for the first quarter was $15.5 million, down from $26.1 million in the prior year [1] - The reported net loss was $7.9 million, or $0.36 per share, compared to a net income of $18.1 million, or $0.77 per diluted share, in the same period last year [1] - Selling, general, and administrative (SG&A) expenses increased to $155.6 million, or 30.8% of revenue, from $130.7 million, or 27.9% of revenue, in the prior year [1] Inventory and Liquidity - Inventory levels decreased by $167.3 million year-over-year, enhancing liquidity and balance sheet strength [1] - Customer deposits remained steady year-over-year, providing a stable foundation for future sales [1] Strategic Outlook - The company reaffirmed its fiscal 2026 guidance, expecting adjusted EBITDA to be in the range of $110 million to $125 million and adjusted net income between $0.40 to $0.95 per diluted share [1] - CEO Brett McGill expressed optimism about gradual improvement in market conditions as inventory levels normalize and the spring selling season approaches [1]