Onewater Marine Inc. Stock Price, News & Analysis

OneWater Marine Inc. (NASDAQ: ONEW) appointed David K. Witty as Chief Technology Officer, effective October 1, 2020. Witty will enhance the company's digital infrastructure, aiming to improve customer experience and support growth. With 33 years in the marine industry, he previously contributed to developing OneWater's proprietary technologies, including CRM and sales management systems. OneWater Marine is a leading recreational boat retailer in the U.S., operating 63 stores across 11 states, with diverse revenue streams from boat sales, parts, financing, and ancillary services.

OneWater Marine Inc. (NASDAQ: ONEW) has implemented organizational changes to enhance customer engagement and operational agility as of October 1, 2020. COO Anthony Aisquith emphasized these realignments will strengthen leadership while maintaining the distinctive nature of local dealerships. Key promotions include Scott Cunningham overseeing Gulf Coast Operations, with Tim Leedham leading the Northeast Region and Donald Drummonds expanding into the Midwest. Joey Jones will manage East Florida, Bryan Braley will head the Yacht and Brokerage division, and George Hernandez will lead South Texas.

OneWater Marine Inc. (NASDAQ: ONEW) has priced a public offering of 3,170,868 shares of its Class A common stock at $20.00 per share. The offering includes 425,000 shares from OneWater and 2,745,868 shares from selling stockholders, with an additional 475,630 shares available through underwriters' option. Closing is expected on September 22, 2020. The net proceeds will support working capital and business expansion. Major underwriters include Truist Securities, Baird, and Raymond James.

OneWater Marine has launched a public offering of 3,170,868 shares of its Class A common stock, with 425,000 shares offered by the company and 2,745,868 shares by selling stockholders. The offering includes a 30-day option for underwriters to purchase an additional 475,630 shares. Proceeds will support working capital, business expansion, and general purposes. Preliminary results for the quarter ending August 31, 2020, indicate a revenue increase of over 20% and same-store sales growth of more than 17%, driven by new and pre-owned boat sales.

OneWater Marine Inc. (NASDAQ: ONEW) has announced the purchase of Boatsforsale.com, aimed at enhancing its online marketplace for new and pre-owned boats, as well as related financing and insurance. CEO Austin Singleton stated that this platform will create a user-friendly environment for buying and selling boats, integrating tools for boat valuation and comparisons. The phased roll-out is expected to broaden OneWater's customer base and geographic reach while reinforcing its digital strategy. The website aims to streamline the boat shopping experience, capitalizing on the high search interest in 'boats for sale.'

OneWater Marine Inc. has secured a new $110 million senior credit facility, projected to save over $6 million in annual interest expenses in Fiscal Year 2021. This facility includes an $80 million term loan and a $30 million undrawn revolver, replacing a former agreement with Goldman Sachs. The new terms enhance financial flexibility, allowing for strategic acquisitions and regional expansions. The initial interest rate is set at 3.00%, with flexible covenants. CFO Jack Ezzell emphasized that this refinancing supports the company's long-term growth strategy.

OneWater Marine Inc. (NASDAQ: ONEW) will release its fiscal third quarter 2020 financial results on July 30, 2020, before market opening. Following the release, a management-hosted conference call will take place at 8:30 a.m. Eastern Time. Participants can access the call via telephone or through a webcast available on the company’s website.

With 63 stores across 11 states, OneWater is a leading recreational boat retailer in the U.S., providing a diverse range of products and services, including boat sales, maintenance, and finance solutions.

OneWater Marine Inc. (NASDAQ: ONEW) reported a robust fiscal third quarter, with revenues up over 30% and same-store sales exceeding 25% year-over-year, despite some impacts from COVID-19. The company attributes this growth to increased consumer interest in boating as a leisure activity during social distancing. CEO Austin Singleton expressed optimism about continuing sales momentum, bolstered by a strong influx of inbound leads and finance income. OneWater operates 63 stores across 11 states, positioning itself as a leading recreational boat retailer.

OneWater Marine Inc. (NASDAQ: ONEW) has appointed Anthony Aisquith and Bari Harlam to its Board of Directors, expanding the board from seven to nine members, with seven being independent. Aisquith, currently the President and COO, brings extensive experience in the marine industry, having expanded the company's retail locations from 9 to 63 since 2008. Harlam, with a strong background in marketing and digital strategy, will contribute valuable insights as the company seeks to differentiate itself further. The board emphasizes the importance of strong governance practices for long-term value creation.