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Dec 31, 2020
OneWater Marine Q1 2021 Earnings Report
Revenue increased driven by new unit sales and same-store sales growth was partially offset by decrease in selling expenses and increase in public company expenses. Net income increased sharply.
Key Takeaways
OneWater Marine Inc. reported a strong fiscal first quarter with a 39.3% increase in revenue to $214.1 million compared to the same period last year. Same-store sales increased by 38%. Net income increased to $11.8 million, or $0.71 per diluted share, and Adjusted EBITDA increased to $16.7 million.
Revenue increased 39% to $214.1 million
Same-store sales increased 38%
Net income increased to $11.8 million, or $0.71 per diluted share
Adjusted EBITDA increased to $16.7 million
Revenue by Segment
Forward Guidance
For fiscal year 2021, OneWater anticipates same store sales to increase by mid-single digits. The Company expects Adjusted EBITDA to be in the range of $95 million to $100 million and diluted earnings per share to be in the range of $4.00 to $4.20.
Positive Outlook
- Same store sales to increase by mid-single digits
- Adjusted EBITDA for the full fiscal year to be in the range of $95 million to $100 million
- Diluted earnings per share to be in the range of $4.00 to $4.20
- Completed three acquisitions in the fiscal first quarter of 2021
- Expansion of Term Loan credit facility by $30 million
Challenges Ahead
- Changes in demand for products and services
- Seasonality and volatility of the boat industry
- Acquisition strategies
- Inability to comply with the financial and other covenants and metrics in credit facilities
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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