OneWater Marine Q2 net loss $4.5M; revenue down 7% to $488M; maintains FY guidance

OneWater Marine Inc.

Revenue $488.3M (-6.9% YoY); same-store sales -5% but +4% on two-year stack.
GAAP net loss $(4.5)M ($(0.27)/diluted); adjusted diluted EPS $0.67 vs $1.81 last year.
Adjusted EBITDA $28.3M, down 47.8% YoY; gross margin 24.6%, down 340 bps.
Restructuring charges $11.8M (headcount, store closures, IT projects); tornado-related costs $2.5M.
FY 2024 guidance maintained: same-store sales up low-to-mid single digits, EBITDA $130-155M, adj. EPS $3.25-$3.75.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OneWater Marine Inc. reported fiscal second quarter ended March 31, 2024 results: revenue $488 million, net income $(5) million, or $(0.27) per diluted share, EPS $(0.27) per diluted share. Guidance reaffirmed.

Period: fiscal second quarter ended March 31, 2024
Revenue: $488 million
Net income: $(5) million, or $(0.27) per diluted share
EPS: $(0.27) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Inc. Announces Fiscal Second Quarter 2024 Results Maintaining previously issued fiscal full year 2024 outlook Fiscal Second Quarter 2024 Highlights • Revenue decreased 7% to $488 million • Same-store sales decreased 5% for the quarter; average annual increase of 4% over last two years • Gross profit margin of 24.6% • GAAP net loss of $(5) million, or $(0.27) per

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Source: SEC EDGAR

accession 0001772921-24-000034

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