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19 May 2025
Grand Banks Yachts reports higher revenue for 3QFY2025, but quarterly earnings down y-o-y
Summary:
Grand Banks Yachts reported a 37.7% increase in revenue to $40.1 million in 3QFY2025, driven by 26 boat sales. However, earnings dropped 42.8% to $2.3 million due to lower margins from trade-in boat sales and higher costs. Despite this, the company remains confident in its long-term outlook, highlighting recent growth initiatives and a strengthened net order book.