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Sep 30, 2022
OneWater Marine Q4 2022 Earnings Report
Reported record results driven by robust demand and diversification.
Key Takeaways
OneWater Marine Inc. reported a 41.8% increase in revenue for the fiscal fourth quarter of 2022, reaching $397.5 million, compared to $280.3 million in the same quarter of the previous year. Net income totaled $22.3 million, with earnings per diluted share at $1.28. The growth was attributed to sales from acquired businesses and an increase in same-store sales.
Revenue for fiscal fourth quarter 2022 was $397.5 million, an increase of 41.8% compared to fiscal fourth quarter 2021.
Same-store sales increased 4% compared to fiscal fourth quarter 2021.
Net income for fiscal fourth quarter 2022 totaled $22.3 million, compared to $22.5 million in fiscal fourth quarter 2021.
Earnings per diluted share for fiscal fourth quarter 2022 was $1.28 per diluted share, compared to $1.35 per diluted share in 2021.
OneWater Marine
OneWater Marine
OneWater Marine Revenue by Segment
Revenue by Segment
Finance & Insurance Income Revenue
CapyFin.com Forward Guidance
For fiscal full year 2023, OneWater anticipates same store sales to be up low to mid-single digits, despite an expected challenging macroeconomic environment. Adjusted EBITDA is expected to be in the range of $250 million to $260 million and earnings per diluted share is expected to be in the range of $9.25 to $9.75.
Positive Outlook
- Anticipates same store sales to be up low to mid-single digits.
- Adjusted EBITDA is expected to be in the range of $250 million to $260 million.
- Earnings per diluted share is expected to be in the range of $9.25 to $9.75.
- Guidance includes the previously announced Taylor Marine Centers acquisition, which closed on October 1, 2022.
- Company is confident that their strategy will propel them forward to deliver long-term value.
Challenges Ahead
- Expected challenging macroeconomic environment.
- Guidance excludes the recently announced Harbor View Marine acquisition, that has yet to close.
- Guidance excludes others acquisitions that may be completed during the fiscal year 2023.
- Hurricane Ian negatively impacted sales by approximately $25 million.
- Shift in the mix and size of boat models sold during the quarter.