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Mar 31, 2024
OneWater Marine Q2 2024 Earnings Report
Reported a decrease in revenue and a net loss, while maintaining the fiscal full year 2024 outlook.
Key Takeaways
OneWater Marine Inc. announced its fiscal second quarter 2024 results, with revenue decreasing by 7% to $488 million. The company reported a GAAP net loss of $(5) million, or $(0.27) per diluted share, but an adjusted diluted earnings per share of $0.67. Despite a competitive selling environment and moderating boat prices, margins are stabilizing, and finance & insurance penetration remains strong.
Revenue decreased 7% to $488 million.
Same-store sales decreased 5% for the quarter, with an average annual increase of 4% over the last two years.
GAAP net loss of $(5) million, or $(0.27) per diluted share and adjusted diluted earnings per share of $0.67.
Adjusted EBITDA was $28 million.
OneWater Marine
OneWater Marine
OneWater Marine Revenue by Segment
Revenue by Segment
New Boat Sales Revenue
CapyFin.comPre-Owned Boat Sales Revenue
CapyFin.comFinance & Insurance Income Revenue
CapyFin.comService, Parts & Other Sales Revenue
CapyFin.com Forward Guidance
OneWater anticipates dealership same-store sales to be up low to mid-single digits. Adjusted EBITDA is expected to be in the range of $130 million to $155 million and adjusted earnings per diluted share is expected to be in the range of $3.25 to $3.75.
Positive Outlook
- Dealership same-store sales to be up low to mid-single digits.
- Adjusted EBITDA is expected to be in the range of $130 million to $155 million
- Adjusted earnings per diluted share is expected to be in the range of $3.25 to $3.75.
Revenue & Expenses
Visualization of income flow from segment revenue to net income