OneWater Marine edges past Q1 revenue estimates, to divest some assets

Overview

• Boat retailer's fiscal Q1 revenue rose 1%, slightly beating analyst expectations

• Adjusted EBITDA for fiscal Q1 increased 88.9% to $3.6 mln

• Company plans to divest certain assets to reduce debt

Outlook

• OneWater maintains fiscal 2026 revenue guidance at $1.83 bln to $1.93 bln

• Company expects fiscal 2026 adjusted EBITDA of $65 mln to $85 mln

• OneWater anticipates adjusted EPS of $0.25 to $0.75 for fiscal 2026

Result Drivers

• INVENTORY MANAGEMENT - Co maintained a strong inventory position, aiding revenue stability and supporting strategic priorities, per Executive Chairman Austin Singleton

• MODEL MIX - Improved gross profit margin attributed to favorable model mix and portfolio optimization efforts

• PRE-OWNED SALES - Pre-owned boat revenue increased 24% due to higher units sold and average price per unit

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the recreational products peer group is "buy"

• Wall Street's median 12-month price target for OneWater Marine Inc is $15.50, about 17.2% above its January 28 closing price of $13.22

• The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nBw12fxsda

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