OneWater Marine reports Q1 adjusted EPS (4c), consensus (57c)

Reports Q1 revenue $380.56M, consensus $380.03M. Same-store sales were flat versus prior year period. “We delivered a solid first quarter supported by a strong inventory position and consistent execution across the business. Gross margins were modestly better than we anticipated, driven by favorable model mix and the benefits of portfolio optimization efforts, which we expect to be realized in various amounts throughout the year. As the first quarter is seasonally our smallest, our focus remains on disciplined execution as industry conditions begin to improve. Supported by a healthy inventory mix and improved aging profile, we believe we are well positioned to execute on our priorities of higher profitability and improved balance sheet leverage,” commented Austin Singleton, executive chairman at OneWater.