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Jun 30, 2023
OneWater Marine Q3 2023 Earnings Report
Reported a revenue increase driven by pre-owned boat sales and service, parts, and other sales from acquired businesses, but experienced margin pressure due to accelerated normalization of boat pricing.
Key Takeaways
OneWater Marine Inc. announced fiscal third quarter 2023 results with a 4.5% increase in revenue to $594.3 million. Net income was $33.3 million, or $1.95 per diluted share. The company focused on strategic inventory management and cost optimization amid a deteriorating selling environment.
Revenue increased 4% to $594 million, a new fiscal third quarter record.
Service, parts & other revenue grew 23% to $92 million.
Dealership same-store sales were flat versus prior year period.
Net income was $33 million in the quarter or $1.95 per diluted share.
Revenue by Segment
Forward Guidance
OneWater anticipates same store sales to be flat and Adjusted EBITDA is expected to be in the range of $160 million to $170 million and earnings per diluted share is expected to be in the range of $4.45 to $4.70.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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