secwatch.observer — SEC 8-K summary
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Issuer:     OneWater Marine Inc. (ONEW)
CIK:        0001772921
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001772921-23-000034
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OneWater Marine Q3 net income halved to $33.3M; lowers FY2023 Adjusted EBITDA guidance
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- Revenue $594.3M (+4.5% YoY), but net income fell to $33.3M from $64.5M; diluted EPS $1.95 vs $3.86.
- Gross profit margin dropped 550 bps to 26.8% due to accelerated pricing normalization; service/parts/other revenue grew 23% to $92.2M.
- Adjusted EBITDA of $59.8M, down 37% from $95.1M; existing boat inventory surged to $572.9M vs $269.4M a year earlier.
- FY2023 guidance: same-store sales flat, Adjusted EBITDA $160-170M (down from prior? not disclosed but implied lower) and diluted EPS $4.45-4.70.
- CEO cites 'deteriorating selling environment' and faster-than-expected industry normalization pressuring margins.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1772921/000177292123000034/0001772921-23-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1772921/000177292123000034/onew-20230803.htm
  HTML page:      https://secwatch.observer/filing/0001772921-23-000034

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