OneWater Marine Inc. reports developments as a U.S. recreational marine retailer with Dealership and Distribution operations. Its updates commonly cover new and pre-owned boat sales, finance and insurance income, service, parts and accessories, repair and maintenance activity, and marine-products distribution through warehouses, distribution centers and online marketplaces.
Company news also focuses on same-store sales, gross margin, inventory mix, product portfolio actions, leverage reduction, and financing facilities used to support boat inventory and dealership operations. Recent corporate updates include the completed sale of Ocean Bio-Chem as part of a portfolio optimization effort centered on core marine retail assets.
OneWater Marine Inc. (NASDAQ: ONEW) has entered a multi-year strategic partnership with the Sport Fishing Championship (SFC) to integrate its dealership network and services into SFC's operations. As a "Corporate Champion," OneWater will utilize SFC’s tournament activation, media, and hospitality assets to enhance visibility in the fishing and yachting industries. The five-year partnership aims to promote saltwater fishing and expand OneWater's reach. The SFC’s 2023 Season Schedule is set to be released in November.
OneWater Marine Inc. has announced the acquisition of Harbor View Marine, enhancing its presence in the Florida Gulf Coast market. This strategic move is expected to boost sales of new and pre-owned boats, alongside finance and service offerings. Harbor View, a family-owned business with a strong local reputation, has generated approximately $21 million in sales over the past year. The transaction is set to close in the first quarter of fiscal 2023, reinforcing OneWater's commitment to growth in the marine retail industry.
OneWater Marine Inc. (NASDAQ: ONEW) has successfully completed its acquisition of Taylor Marine Centers, enhancing its market presence in the Mid-Atlantic U.S. The deal aims to bolster new and pre-owned boat sales, financing, and service offerings. CEO Austin Singleton noted the acquisition complements the recent Norfolk Marine acquisition, reinforcing the company’s strategic growth in key marine markets. With 98 retail locations and operations across 20 states, OneWater continues to strengthen its diverse revenue streams in the marine retail sector.
OneWater Marine Inc. (NASDAQ: ONEW) has announced its acquisition of Taylor Marine Centers, aiming to strengthen its presence in the Mid-Atlantic U.S. This strategic move follows the earlier acquisition of Norfolk Marine, enhancing both new and pre-owned boat sales and services. Taylor Marine Centers generated approximately $29 million in sales over the past year and boasts a legacy of over 50 years in the Delmarva Peninsula. The transaction is expected to close within the next 90 days.
OneWater Marine Inc. has entered a strategic partnership with Forza X1 to create a distribution channel for electric sports boats. This agreement aims to enhance sustainable recreational boating, allowing consumers to purchase boats through a digital platform or at OneWater’s 96 retail locations. Forza X1's electric boats target the recreational day boat market, focusing on performance and comfort. This collaboration positions OneWater to leverage its extensive sales network, while potentially increasing Forza X1's market reach and sales.
OneWater Marine Inc. (NASDAQ: ONEW) has appointed Steve Roy as an independent director, expanding the Board from ten to eleven members. Effective August 12, 2022, this addition is aimed at enhancing the Company’s growth strategy. Roy, with extensive experience in finance, previously served as CFO at AAA Cooper Transportation and as CFO at Movie Gallery, Inc. His expertise is expected to contribute significantly to OneWater’s objectives in the marine retail industry, which spans 96 retail locations and various revenue streams.
OneWater Marine Inc. has completed the acquisition of Ocean Bio-Chem, Inc., a leading supplier in the marine and automotive cleaning products market. This strategic move aims to enhance OneWater's presence in the marine parts and accessories sector. CEO Austin Singleton noted the acquisition will leverage their integration strategies to increase market share and drive profit margins. OneWater operates 96 retail locations and diversifies its revenues across various sectors, including boat sales and maintenance services.
OneWater Marine reported strong fiscal Q3 2022 results with revenue up 41% to $568.9 million and net income rising 25% to $64.5 million, translating to $3.86 per diluted share. Same-store sales grew 12%, driven by new and pre-owned boat sales, which increased 30.8% and 38.1%, respectively. Adjusted EBITDA climbed 45% to $95.1 million. The company also raised its fiscal year 2022 Adjusted EBITDA guidance to $240-$250 million. Effective management and an active acquisition strategy, including the purchase of Ocean Bio-Chem, support OneWater's growth trajectory.
OneWater Marine Inc. (NASDAQ: ONEW) will announce its fiscal third quarter 2022 financial results on August 4, 2022, before market opening. The management team will conduct a conference call at 8:30 a.m. Eastern Time the same day to discuss the results. Interested participants can register online to receive the call details. OneWater is a leading marine retailer in the U.S., operating 96 retail locations and offering a variety of marine products and services.
OneWater Marine Inc. (NASDAQ: ONEW) has announced its acquisition of Ocean Bio-Chem, Inc. (NASDAQ: OBCI) for $13.08 per share, totaling approximately $125 million. This move aims to enhance OneWater's growth in the parts and accessories sector by integrating OBCI’s recognized brands and operational efficiencies into its subsidiary, T-H Marine Supplies. The transaction, expected to close in Q4 2022, will be financed through an extension of OneWater’s term loan. Both companies anticipate synergies in customer engagement and market expansion.