Onewater Marine Inc ( (ONEW) ) has released its Q1 earnings. Here is a breakdown of the information Onewater Marine Inc presented to its investors.
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OneWater Marine Inc. stands as a leading premium marine retailer in the U.S., with a broad network of 96 retail locations and diversified revenue streams including sales of new and pre-owned boats, as well as finance and insurance products.
In its fiscal first quarter of 2025, OneWater Marine Inc. reported a 3% increase in revenue to $376 million, with a notable rise in same-store sales by 4%. Despite these gains, the company faced a net loss of $14 million, primarily due to exiting certain brands. However, strategic inventory management and operational execution supported higher unit sales and outperformed industry expectations.
Key financial metrics highlighted a gross profit margin of 22.4%, a decrease from the previous year, influenced by new and pre-owned boat pricing pressures. Adjusted EBITDA fell to $2 million from $7.1 million year-over-year. Notably, finance and insurance income surged by 27.7%, offsetting some margin pressures. The company’s cost reduction initiatives helped reduce selling, general, and administrative expenses as a percentage of revenue.
Looking forward, OneWater remains cautiously optimistic, maintaining its fiscal year 2025 guidance with anticipated revenues ranging from $1.7 billion to $1.85 billion, and adjusted EBITDA expected between $80 million and $110 million. The management is confident in leveraging a healthy inventory position and ongoing cost-reduction strategies to strengthen financial performance.
