OneWater Marine Q2 revenue record $524M (+19%), net income $27M vs $42M, EPS $1.56; adj EBITDA down 22%

OneWater Marine Inc.

Revenue increased 19% to $524M, a fiscal Q2 record; same-store sales up 11%.
Net income of $27M ($1.56 diluted EPS) vs $42M ($2.54) in prior year; adjusted EBITDA $51.8M vs $66.1M.
Service, parts & other revenue grew 28% to $78M; gross margin 28% down 420 bps from pricing normalization.
FY2023 guidance maintained: adj EBITDA $200-225M, EPS $7.50-8.00, same-store sales flat to up mid-single digits.
Inventory rose to $593M vs $293M year ago due to seasonal builds and acquisitions; long-term debt $463M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OneWater Marine Inc. reported fiscal full year 2023 results: EPS $7.50 to $8.00. Guidance reaffirmed.

Period: fiscal full year 2023
EPS: $7.50 to $8.00
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

The Company is maintaining its previously issued fiscal full year 2023 outlook. For fiscal full year 2023, OneWater anticipates same store sales to be flat to up mid-single digits. Adjusted EBITDA 2 is expected to be in the range of $200 million to $225 million and earnings per diluted share is expected to be in the range of $7.50 to $8.00.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OneWater Marine Inc. reported the fiscal second quarter ended March 31, 2023 results: revenue $524 million, net income $27 million, EPS $1.56 per diluted share.

Period: the fiscal second quarter ended March 31, 2023
Revenue: $524 million
Net income: $27 million
EPS: $1.56 per diluted share
Result: reported results

Exact text from the filing

Revenue increased 19% to $524 million, a new fiscal second quarter record • Service, parts & other revenue grew 28% to $78 million • Same-store sales increased 11% • Gross profit margin of 28% remains strong • Net income was $27 million in the quarter or $1.56 per diluted share • Adjusted EBITDA 1 of $52 million

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Source: SEC EDGAR

accession 0001772921-23-000003

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