OneWater posts Q1 net loss $8M, revenue down 1% to $364M; guides FY same-store sales up low-to-mid single digits

OneWater Marine Inc.

GAAP net loss of $8.0M ($0.49 diluted loss); adjusted diluted loss per share $0.38.
Revenue $364M (-1% YoY); same-store sales +2%; gross margin 25.1% vs 30.0% a year ago.
Adjusted EBITDA $7.1M, down 76.6% from $30.4M in Q1 2023.
FY 2024 guidance reaffirmed: Adj EBITDA $130-155M, EPS $3.25-$3.75; same-store sales up low-to-mid single digits.
Total liquidity >$65M (cash $44.6M); long-term debt $439.8M; inventory $706.8M up seasonally.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.97

OneWater Marine Inc. reported fiscal first quarter ended December 31, 2023 results: revenue $364.0 million, net income $(8.0) million, EPS $(0.49) per diluted share. Guidance reaffirmed.

Period: fiscal first quarter ended December 31, 2023
Revenue: $364.0 million
Net income: $(8.0) million
EPS: $(0.49) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

First Quarter 2024 Results Outperforming industry and gaining market share in more competitive sales environment Fiscal First Quarter 2024 Highlights • Revenue decreased 1% to $364 million • Same-store sales increased 2 % • Gross profit margin of 25.1% • GAAP net loss of $(8) million, or $(0.49) per diluted share and adjusted diluted loss per share 1 of $(0.38) •

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Source: SEC EDGAR

accession 0001772921-24-000015

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