MarineMax reports record revenue in 2022 amid declining industry engagement

MarineMax, the world's largest recreational boating company, has reported record performances in revenue and gross margin for its first quarter in fiscal 2023 (ended December 30, 2022), owing largely to the October acquisition of IGY Marinas. 

The Group's revenue grew by 7 per cent compared to the same period last year, reaching $507.9 million from $427.7 million. In addition, MarineMax secured a gross profit of $187 million, which drove a record December quarter margin of 36.8 per cent, up 140 basis points.