Skip to main content

OneWater Announces Q2 Results

1_ONEWATER

OneWater Marine this morning announced the results of its fiscal second quarter.

The retailer reported that revenue increased year-over-year in the quarter by 34 percent to $442 million, while net income increased 38 percent to $42 million. Net income per diluted share increased 39 percent to $2.54. Gross profit increased 530 basis points to 32.2 percent.

“We had another exceptional quarter, delivering 34 percent revenue growth, expanding gross margins by 530 basis points and driving earnings per share up 39 percent year-over-year,” OneWater CEO Austin Singleton said in a statement. “We also completed the acquisitions of JIF Marine and YakGear, accelerating our parts-and-services revenue that saw a 178 percent increase, while at the same time further diversifying our business. Cycling an incredible quarter last year, we also saw an increase of 8 percent in same-store sales, demonstrating the strength of our team, platform and inventory-management tools.”

The company also announced a share buyback program. “During the quarter, we announced our inaugural share repurchase program, highlighting the board’s conviction of our strategy and long-term value creation opportunity,” Singleton added. “Combining a strong foundation with our multipronged, tried-and-true acquisition playbook, we continue to work toward driving returns for our shareholders for many years to come.”


The full financial disclosure is available here.

Related

1_TRAVELIFT.COOP

Marine Travelift Launches Co-op Program

The company received its first student, a University of Wisconsin engineering major, in the seven-month paid co-op.

1_JULY4

Trade Only Today Returns Tuesday

The e-newsletter will not publish July 4 in observance of Independence Day. We wish everyone a safe holiday weekend.

1_ORR.FUNDS

ORR Announces Federally Funded Projects

The U.S. Economic Development Administration prioritized outdoor recreation for the first time

Norm#4

Ten Ways To Sell in a Tough Economy

These keys to successful selling can help you create customers who keep coming back, even when sales dip

1_ASA.BOARD

ASA Names New Board Members

The American Sportfishing Association filled two at-large seats and two regional seats on its board of directors.

1_EXEC.SEARCH

Dammrich, Hopkinson Partner With Marine Resources Recruitment

The industry veterans will help clients fill executive-suite, marine industry job openings around the world.

1_PULSE.PING.0630

DEALERS: How Was Business in the First Half of 2022?

With the second quarter coming to a close, was there parity between the budget and financial performance in the first six months? Take the Pulse Report survey here.

1_PMMPODCAST

Passagemaker Relaunches Podcast

Trawler Talk aims to connect with those who are interested in the cruising lifestyle, with episodes dropping every other week