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OneWater Reports Higher Profit, Raises Guidance

1_ONEWATER.EARNSQ3

For its fiscal third quarter, OneWater Marine reported higher revenue, same-store sales, profit and profit margin. The company also raised its full-year guidance.

Revenue in the quarter ended June 30 was $568.9 million, compared with $404.2 million in the same quarter of fiscal 2021, the Buford, Ga.-based dealer said in a statement. Net income rose to $64.5 million from $51.6 million.

Same-store sales increased 12 percent, and gross profit margin widened by 90 basis points to 32.3 percent.

“Through a broad network of high-caliber stores, our dealers are leveraging OneWater’s scale, inventory and expanded offerings while mitigating challenges presented by a constrained production environment,” CEO Austin Singleton said in the statement.

Currently in its fourth fiscal quarter, OneWater said it increased full-year guidance for adjusted earnings before interest, taxes, depreciation and amortization to a range of $240 million to $230 million.

“As we enter the final quarter of our fiscal year, we have maintained our momentum, and the consumer demand has been robust,” Singleton said.

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