Welcome to our dedicated page for Onewater Marine news (Ticker: ONEW), a resource for investors and traders seeking the latest updates and insights on Onewater Marine stock.
OneWater Marine Inc. (NASDAQ: ONEW) is a recreational marine retailer that reports its results and material events through regular news releases and SEC filings. The company operates dealership and distribution businesses in the United States, with revenue categories that include new boat sales, pre-owned boat sales, finance and insurance income, and service, parts and other revenue. Its news flow provides insight into how these activities perform over time and how the company responds to market conditions.
On this page, readers can follow ONEW news related to quarterly and annual earnings, guidance updates, and commentary on same-store sales, gross profit margins, inventory levels, and liquidity. Earnings releases often break out performance by category, discuss the impact of competitive dynamics and macroeconomic factors, and include non-GAAP metrics such as Adjusted EBITDA and adjusted diluted earnings per share, along with reconciliations.
OneWater Marine Inc. also issues news about capital structure and financing arrangements, such as amendments to its senior secured term loan and floor plan credit facilities that modify maturities, borrowing capacity, and terms. In addition, the company announces acquisitions and strategic transactions, including deals that expand its geographic presence, product offerings, and exclusive dealership rights in the premium and luxury marine market.
Leadership and governance updates, such as changes in executive titles and board roles, are disclosed through press releases and corresponding Form 8-K filings. Investors and observers who monitor ONEW news can use this page to track developments in the company’s dealership and distribution segments, its approach to inventory and brand portfolio management, and its use of financing facilities, all based on the company’s own public communications.
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%/b%. Net income surged by 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.
OneWater Marine Inc. (NASDAQ: ONEW) announced it will release its fiscal first quarter 2022 financial results on February 3, 2022, before the market opens. Management will hold a conference call at 8:30 a.m. ET to discuss the results, which can be accessed by dialing (866) 220-5793 or (615) 622-8064 for international participants. The call will be webcast and archived on the company's investor relations website. OneWater is among the largest premium recreational boat retailers in the U.S., operating 75 stores across 12 states, with diversified revenue streams.
OneWater Marine Inc. (NASDAQ: ONEW) has successfully acquired a majority interest in Quality Boats, a leading dealer in customer satisfaction on Florida's west coast. This strategic acquisition will bolster OneWater's offerings in new and pre-owned boats as well as parts and services, enhancing its presence in a lucrative boating market. CEO Austin Singleton expressed excitement over the partnership, anticipating significant growth opportunities through Quality Boats’ established customer base.
OneWater Marine Inc. (NASDAQ: ONEW) announced a donation exceeding $200,000 and the collection of over 6,800 toys for Toys for Tots in 2021. This initiative aimed to support local underprivileged youth amidst supply chain challenges and the impacts of COVID-19. OneWater's dealers conducted various toy collection drives at retailers and events, showcasing a strong community commitment. CEO Austin Singleton emphasized the collective effort of the OneWater team in bringing holiday cheer to children in need.
OneWater Marine Inc. has announced the extension of its inventory-based line of credit to $500 million, increased from $392.5 million. This financing facility with Wells Fargo will support the company's acquisition pipeline and growth strategy through December 1, 2023. The company anticipates that the funding will cater to its financial needs over the next two years, allowing it to capitalize on consumer demand and enhance its leadership in the marine industry. Specific covenants ensure a funded debt to EBITDA ratio not exceeding 2.00:1.00.
OneWater Marine Inc. announced the acquisition of a majority interest in Quality Boats, enhancing its presence on Florida's west coast, a key boating market. The acquisition is projected to contribute approximately $140 million in sales and $20 million in EBITDA for 2021. This move aligns with OneWater's growth strategy, providing opportunities to expand offerings to Quality Boats' substantial customer base. The deal is expected to be immediately accretive to OneWater's revenues and earnings per share, with closing anticipated within 90 days.
OneWater Marine Inc. (NASDAQ: ONEW) has successfully completed the acquisition of Norfolk Marine Inc., enhancing its presence in the Mid-Atlantic U.S. This acquisition increases OneWater's capabilities in new and pre-owned boat sales, finance, and service offerings. CEO Austin Singleton expressed enthusiasm for integrating Norfolk Marine into OneWater's operations, marking a significant milestone as their first dealer in Virginia. OneWater is recognized as a major player in the recreational boat retail market, operating 72 stores across 12 states.
OneWater Marine Inc. has successfully completed the acquisition of T-H Marine, significantly enhancing its presence in the marine parts and accessories sector. This acquisition is expected to more than double the annual revenue related to parts and accessories for OneWater. The integration of T-H Marine will allow OneWater to offer a more comprehensive product range, further diversifying its revenue streams. The deal aligns with OneWater’s strategic growth objectives and expands its addressable market, promising substantial growth opportunities moving forward.