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. 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 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.
OneWater Marine announced robust fiscal year 2021 results with record revenue of $1.23 billion, reflecting a 20% increase year-over-year. Gross profit margin surged by 610 basis points to 29%, with net income soaring 140% to $116 million, translating to earnings per diluted share of $6.96. Notably, the company completed five strategic acquisitions, further enhancing its market positioning. Despite industry-wide supply chain challenges, demand remains strong, with anticipated adjusted EBITDA for fiscal 2022 projected between $170 million and $175 million.
OneWater Marine Inc. (NASDAQ: ONEW) announced the acquisition of Norfolk Marine Inc. to enhance its presence in the Mid-Atlantic U.S. and expand offerings in new and pre-owned boat sales, finance, and services. The deal, expected to close in Q4 of 2021, marks OneWater’s first dealer in Virginia. Norfolk Marine, a family-owned business with over $20 million in sales, represents top boating brands and is noted for its award-winning service. CEO Austin Singleton expressed confidence in the acquisition's potential for growth and market expansion.
OneWater Marine Inc. (NASDAQ: ONEW) announced it will release its fiscal fourth quarter and full-year 2021 financial results on November 18, 2021, before the market opens. A conference call will follow at 8:30 a.m. ET, accessible via phone or webcast. OneWater operates 71 retail locations across ten states and is a leading vendor in the premium recreational boat market, offering a variety of products and services that include new and used boat sales, maintenance, and financial services.
OneWater Marine Inc. (NASDAQ: ONEW) announced a definitive agreement to acquire T-H Marine for approximately $185 million. This strategic acquisition is expected to more than double OneWater's service and parts sales, enhancing profitability through a complementary portfolio of marine parts and accessories. The deal is anticipated to close in the fourth quarter of 2021 and is projected to be immediately accretive to
top-line growth, operating margins, and earnings per share. Funding will come from a mix of cash and stock, supported by a $200 million term facility expansion from Truist Securities.
On October 4, 2021, OneWater Marine (NASDAQ: ONEW) announced the acquisition of Naples Boat Mart, enhancing its presence on Florida's West Coast. This acquisition will broaden the company's offerings in new and pre-owned boat sales, storage, service, and financing.
CEO Austin Singleton expressed optimism about the growth prospects from this strategic move. OneWater operates 71 stores across 11 states, providing diverse revenue streams, including boat sales and maintenance services.
OneWater Marine Inc. (NASDAQ: ONEW) announces its participation in the Raymond James & Associates Consumer Conference on September 14, 2021, at 9:20 a.m. ET. CEO Austin Singleton and CFO Jack Ezzell will engage in a virtual fire-side chat, with opportunities for investor meetings. An audio webcast of the presentation will be available on the company’s Investor Relations website, along with a replay for one year. OneWater is a leading recreational boat retailer in the U.S., operating 71 stores across 11 states, offering diverse products and services including boat sales, financing, and maintenance.
OneWater Marine Inc. has successfully completed the acquisition of PartsVu, an online marketplace specializing in OEM marine parts and accessories. This strategic move enhances OneWater's presence in the marine parts sector and diversifies its revenue streams, reducing reliance on cyclic boat sales. The acquisition aligns with OneWater's growth initiatives and aims to solidify its leadership in the marine industry, particularly in the high-margin parts and accessories market.
PORT 32 Marinas announced the acquisition of three marinas in Naples, Marco Island, and Cape Coral, Florida, from Walker Marine Group. This marks PORT 32's first acquisition post-recapitalization led by Fireside Investments. The Walker Marinas offer approximately 1,015 slips and commercial lease income from OneWater Marine Inc. Following these acquisitions, PORT 32 will manage about 4,100 slips and over 140,000 SF of commercial space. CEO Joe H. Miller expressed enthusiasm for the acquisition, aligning with the company's strategy of enhancing its portfolio with top-tier marina assets.