ONEW
OneWater Marine Inc.10.59
-0.39-3.55%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Pre-owned trade-ins surge; boat shows flat
Q&A unpacked the 24% pre-owned sales surge as trade-ins accelerate with faster new boat deliveries slashing person-to-person deals. Boat shows opened flat to slightly down, but margins beat expectations on fresh model mix. Inventory freshness hit best-ever levels. Leverage set to drop below 4x post-distribution asset sale. No storm or shutdown hits. Answers reaffirmed guidance amid flat industry, stressing margin choppiness from fading promotions. Trade-ins are flooding in now. Investors watch profitability cadence through peak season.
Key Stats
Market Cap
175.03MP/E (TTM)
-Basic EPS (TTM)
-7.22Dividend Yield
0%Recent Filings
8-K
Annual meeting results approved
OneWater Marine held its 2026 Annual Meeting on February 19, electing all nine nominees—Anthony Aisquith, Carmen R. Bauza, and others—to the board with strong support, averaging over 10.5 million FOR votes against minimal opposition. Stockholders approved executive compensation on an advisory basis (8.3M FOR vs 2.3M against) and ratified Grant Thornton as auditors (15.2M FOR). Continuity intact.
10-Q
Q2 FY2026 results
OneWater Marine nudged revenues up 1.3% y/y to $380.6M for Q2 FY2026 ended December 31, 2025, with pre-owned boats surging 24.0% y/y to $70.4M while new boats dipped 5.9% y/y to $233.3M; gross margins expanded 110bps to 23.5% on better boat pricing and mix. Dealerships drove gains, posting $4.7M segment income versus $3.6M y/y, but a $7.4M restructuring charge in Distribution flipped operations to a $5.2M loss—net loss narrowed to $7.7M ($0.47/share, confirmed vs 16.5M diluted shares). Cash fell to $32.2M amid $76.3M operating outflow from inventory builds, floor plan at $491.2M (6.65-9.15%), long-term debt $399.4M (7.09-7.17%, due 2027); $5.9M revolver availability. Assets held for sale (Ocean Bio-Chem) later fetched $50M to repay debt. Seasonality crimps winter demand.
8-K
Sells Ocean Bio-Chem for $50M
8-K
Sells Ocean Bio-Chem for $50M
OneWater Marine completed the sale of Ocean Bio-Chem on February 3, 2026, netting $50 million in proceeds to slash debt and target net leverage below 4.0x by fiscal year-end. This saves $3.5 million in annual interest while sharpening focus on core marine retail. Updated FY2026 guidance: revenue $1.78B-$1.88B, Adjusted EBITDA $60M-$80M. Debt reduction bolsters cash flow.
8-K
Q1 revenue up 1%, margins rise
OneWater Marine posted Q1 revenue up 1% to $380.6M, with gross margins expanding to 23.5% on portfolio tweaks, yet new boat sales dipped 6% while pre-owned surged 24%. Adjusted EBITDA climbed to $4M; net loss narrowed to $(7.7)M after $7.1M impairment on assets held for sale. Divestiture closes by March 2026, proceeds to cut debt. Inventory fell to $601.5M. FY26 revenue guide: $1.83B-$1.93B.
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