Onewater Marine Inc. Stock Price, News & Analysis

OneWater Marine reported a strong fiscal second quarter ending March 31, 2022, with a 34% revenue increase to $442 million. This growth was driven by an 8% rise in same-store sales and strategic acquisitions, including Denison Yachting. Net income rose 38% to $42 million, resulting in earnings per share of $2.54, up 39% year-over-year. Adjusted EBITDA increased by 65% to $66 million. The company anticipates fiscal 2022 Adjusted EBITDA between $230 million and $240 million, bolstered by acquisitions.

OneWater Marine Inc. (NASDAQ: ONEW) will announce its fiscal second quarter 2022 financial results on May 5, 2022, before market opening. Following the results, management will host a conference call at 8:30 a.m. ET for discussion. The call can be accessed at (877) 270-2148 in the U.S. or (412) 902-6510 internationally, without a passcode. The call will also be webcast and visible on the company's website for one year. OneWater is a leading marine retailer operating 96 locations and a diverse range of marine-related services.

OneWater Marine Inc. has completed the acquisition of Denison Yachting, expanding its presence in the superyacht market. Denison has ranked as the top seller in superyachts for three years according to Boat International’s BOATPRO database. The acquisition aims to enhance OneWater’s product offerings, including yacht brokerage, sales, and services, leveraging Denison's record growth in yacht charter and management since 2019. CEO Austin Singleton expressed optimism about combining strengths to meet rising market demand.

OneWater Marine Inc. announced a $50 million share repurchase program, marking its inaugural buyback since going public. The Board of Directors emphasized confidence in the company's long-term value creation potential. CEO Austin Singleton highlighted this initiative as part of a broader capital allocation strategy, asserting that the company's stock represents an attractive investment opportunity. The timing of repurchases will be influenced by market conditions and other factors, with no obligation to repurchase a set amount of shares.

OneWater Marine Inc. (NASDAQ: ONEW) has appointed Greg Shell as an independent director, effective April 1, 2022, increasing its Board size to ten members, with eight independent. Shell brings extensive capital markets experience and governance expertise, enhancing OneWater's growth strategy and environmental, social, and governance (ESG) efforts. Currently a Managing Director at Bain Capital, Shell has a proven track record in sustainable investments.

OneWater Marine Inc. has announced the acquisition of Denison Yachting, aiming to expand its capabilities in the superyacht sector. This acquisition follows record sales at the Miami International Boat Show and positions OneWater to enhance its brokerage, charter, and management services.

The deal will add 21 locations across seven states, increasing market presence and customer reach, while also being expected to drive top-line growth and earnings per share immediately. Denison generated over $80 million in sales in 2021, solidifying its position as the top seller in the superyacht category.

OneWater Marine Inc. announced the acquisition of YakGear, Inc., enhancing its presence in the paddle sports market. YakGear is a leading supplier of kayak and paddle sports accessories, providing access to new retailers and consumers. This acquisition, T-H Marine's second in 2022, aligns with OneWater's growth strategy in aftermarket marine products. YakGear will remain a standalone division in Houston, Texas, and continues to leverage exclusive distribution agreements. This deal underscores OneWater's commitment to diversifying its product offerings and expanding into new markets.

OneWater Marine reported a strong fiscal first quarter 2022, with revenues up 57% to $336 million and same-store sales increasing 28%. Gross profit margins expanded by 550 basis points to 30%99% to $23 million, with diluted EPS rising 105% to $1.45. The company completed four acquisitions, enhancing its growth strategy. OneWater raised its full-year guidance for Adjusted EBITDA to $210-$220 million and EPS to $8.00-$8.40. Despite supply chain issues, the firm expects high-single-digit same-store sales growth for the year.

OneWater Marine Inc. announced the acquisition of JIF Marine LLC, enhancing its Parts & Accessories business and consolidating its leadership in the steel ladder market. JIF Marine, a family-owned business renowned for stainless steel ladders and dock products, will operate as a division of T-H Marine, a subsidiary of OneWater. This move reflects a strategic growth initiative, with plans for further acquisitions to expand product lines and leverage the omni-channel strategy for increased customer reach.