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Sep 30, 2024
OneWater Marine Q4 2024 Earnings Report
Announced fiscal fourth quarter and full-year 2024 results, optimizing costs and inventory, and well-positioned entering fiscal year 2025.
Key Takeaways
OneWater Marine Inc. reported a decrease in revenue for fiscal fourth quarter 2024 to $377.9 million, a 16.2% decrease compared to the prior year, with a net loss of $(10.4) million. The company's performance was impacted by Hurricane Helene, which disrupted sales during the last 10 days of the month. Looking to fiscal 2025, the company expects a slower start to the year due to ongoing hurricane impacts but remains cautiously optimistic about the full year outlook.
Revenue for fiscal fourth quarter 2024 was $377.9 million, a decrease of 16.2% compared to fiscal fourth quarter 2023.
Same-store sales decreased 17%.
Net loss for fiscal fourth quarter 2024 totaled $(10.4) million, compared to net loss of $(110.9) million in fiscal fourth quarter 2023, which included a $147.4 million non-cash impairment charge.
Adjusted EBITDA decreased 73.7% to $7.8 million compared to $29.8 million for fiscal fourth quarter 2023.
OneWater Marine
OneWater Marine
OneWater Marine Revenue by Segment
Revenue by Segment
Finance & Insurance Income Revenue
CapyFin.com Forward Guidance
For fiscal full year 2025, OneWater anticipates revenue to be in the range of $1.7 billion to $1.85 billion and dealership same-store sales to be up low single digits. Adjusted EBITDA is expected to be in the range of $80 million to $110 million and Adjusted Diluted Earnings Per Share is expected to be in the range of $1.00 to $2.00.
Positive Outlook
- Revenue to be in the range of $1.7 billion to $1.85 billion.
- Dealership same-store sales to be up low single digits.
- Adjusted EBITDA is expected to be in the range of $80 million to $110 million.
- Adjusted Diluted Earnings Per Share is expected to be in the range of $1.00 to $2.00.
Challenges Ahead
- Slower start to the year given the ongoing impacts from Hurricanes Helene and Milton.