Onewater Marine Inc. Stock Price, News & Analysis

OneWater Marine Inc. (NASDAQ: ONEW) is set to release its fiscal second quarter 2023 financial results on May 4, 2023, before the market opens. Following the release, a conference call will be hosted by management at 8:30 a.m. Eastern Time to discuss the results. Participants can register for phone access via a designated link, or they can attend the live webcast available on the Company’s website.

As one of the largest and fastest-growing premium marine retailers in the U.S., OneWater operates 100 retail locations and 12 distribution centers across 20 states. The Company offers a diverse range of products and services, including the sale of new and pre-owned boats, financing, insurance, and maintenance services.

OneWater Marine Inc. (NASDAQ: ONEW) announced the appointment of Carmen Bauza as an independent director on March 1, 2023, expanding the Board from eight to nine members. Bauza, a seasoned executive with experience in global retail, is expected to enhance the company's growth strategy through her expertise in omni-channel marketing and product innovation. She will also serve on the Audit and Compensation Committees. Currently, Ms. Bauza holds board positions at Zumiez Inc. and Destination XL Group, and has held senior roles at Fanatics, HSN, and Walmart. This strategic addition aims to bolster OneWater's position in the marine retail market.

OneWater Marine reported fiscal first quarter 2023 results with revenues at $367 million, a 9% increase year-over-year. However, same-store sales dropped 14% due to returning seasonality. Notable growth in high-margin service, parts, and other revenue surged 86% to $70 million, bolstered by strategic acquisitions. Net income fell to $11 million ($0.61 per diluted share), down from $23.5 million ($1.45 per diluted share) in the prior year. OneWater anticipates flat to mid-single-digit same-store sales for the fiscal year and projects adjusted EBITDA between $200 million and $225 million.

OneWater Marine Inc. (NASDAQ: ONEW) will announce its first quarter 2023 financial results on February 2, 2023, before market open. Post-release, management will hold a conference call at 8:30 a.m. ET to discuss the results. Investors can register for the call via a provided link to receive a phone number and access code, or access a live webcast through the Company’s website, which will be archived for one year.

As a leading marine retailer, OneWater operates 100 retail locations across 20 states, offering a broad range of products including new and used boats, financing, and repair services.

OneWater Marine Inc. has completed the acquisition of Harbor View Marine, expanding its footprint in the Gulf Coast market. This strategic move enhances the company's offerings in new and pre-owned boat sales, financing, and service.

CEO Austin Singleton expressed excitement over welcoming Harbor View Marine into the OneWater family, highlighting the acquisition's importance in strengthening their market presence. This deal is part of OneWater's growth strategy, leveraging its extensive network across 100 retail locations and 20 states to capitalize on the marine retail sector.

OneWater Marine Inc. announced the retirement of Chairman Mitchell W. Legler, who will not stand for re-election at the 2023 Annual Meeting due to age policy. In his place, John F. Schraudenbach has been appointed as Vice-Chairman and is expected to become Chairman post-election. Schraudenbach, an independent director since 2020 and Chair of the Audit Committee, will ensure a smooth leadership transition. The board will now consist of 10 members, with eight independent directors.

OneWater Marine reported a strong fiscal year 2022, with record revenue of $1.74 billion, up 42% year-over-year. Same-store sales increased by 12%, and net income rose 31% to $153 million, resulting in an adjusted EBITDA of $248 million—a 59% increase. The company completed eight acquisitions and anticipates low to mid-single-digit growth in same-store sales for fiscal 2023. Despite challenges from Hurricane Ian impacting sales by $25 million, OneWater's diversified revenue model and robust demand position it well for future growth.