OneWater Marine Reports Q1 Loss Despite Revenue Growth

OneWater Marine reported a fiscal first-quarter loss of $0.54 per share, outperforming analysts' expectations of a $0.94 loss, with revenues of $375.8 million, a 3.2% increase year-over-year. The company confirmed its full-year revenue guidance of $1.78 billion, which was slightly below analyst estimates. Although same-store sales rose 4.2%, the company faced a decline in gross profit margin, falling to 22.4%, attributed to pricing pressures and inventory management efforts. CEO Austin Singleton highlighted that the company’s strategic inventory management had positively impacted unit sales of both new and pre-owned boats, which increased by 2.9% and 6.6% respectively. However, the operating margin slipped to -0.5%, down from 1.8% a year earlier. Overall, OneWater Marine's performance remains cautiously optimistic, driven by a healthy inventory position and ongoing cost reduction initiatives.