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Mar 31, 2022
OneWater Marine Q2 2022 Earnings Report
Revenue increased and acquisitions drove record earnings.
Key Takeaways
OneWater Marine Inc. reported a strong fiscal second quarter with a 34% increase in revenue to $442.1 million and a 39% increase in earnings per diluted share to $2.54. The company's performance was driven by same-store sales growth and strategic acquisitions.
Revenue increased 34% to $442 million.
Same-store sales increased 8%.
Gross profit margin expanded 530 basis points to 32.2%.
Net income increased 38% to $42 million.
Revenue by Segment
Forward Guidance
The Company is raising its fiscal full year 2022 outlook for Adjusted EBITDA to be in the range of $230 million to $240 million and earnings per diluted share to be in the range of $8.60 to $9.00.
Positive Outlook
- Adjusted EBITDA is expected to be in the range of $230 million to $240 million.
- Earnings per diluted share to be in the range of $8.60 to $9.00.
- Includes the previously completed acquisitions, including the acquisition of Denison Yachting.
- Excludes any other acquisitions that may be completed during the year.
- Same store sales will be up high-single digits.
Challenges Ahead
- Expected challenging inventory environment.
- Effects of industry wide supply chain challenges and our ability to maintain adequate inventory.
- Changes in demand for our products and services.
- The seasonality and volatility of the boat industry.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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