Q3 2025 OneWater Marine Inc Earnings Call Transcript
Key Points
- Total revenue increased by 2% to $553 million, outperforming the broader industry which saw declines over 15%.
- Pre-owned boat sales grew for the third consecutive quarter, increasing by 18% to $126 million.
- Inventory management initiatives have been successful, with total inventory down 14% year over year.
- The company is on track to complete its brand rationalization strategy, focusing on high-performing brands.
- OneWater Marine Inc (ONEW) has a flexible operating model with diverse revenue streams, including growing pre-owned boat sales and resilient recurring revenue businesses.
- Gross profit declined to $129 million from $133 million due to lower new boat volumes and a promotional environment.
- New boat sales decreased by 2% to $326 million in the third quarter.
- Service parts and other sales revenue decreased by 2% due to lower production from boat manufacturers.
- Selling, general, and administrative expenses increased by 6% to $92 million, driven by higher personnel and selling expenses.
- Net income for the fiscal third quarter decreased to $11 million or $0.65 per share, compared to $17 million or $0.99 per share in the prior year.
Good morning. My name is Sergio, and I will be your conference operator today. At this time, I would like to welcome everyone to the OneWater Marine Inc fiscal 3 Water 2025 conference call.
I would now like to turn the conference over to Jack Keel, Chief Financial Officer. Please go ahead.
Good morning and welcome to One Water Marine fiscal third quarter 2025 earnings conference call. I am joined on the call today by P. Austin Singleton, Chief Executive Officer, and Anthony Aisquith, President and Chief Operating Officer.
Before we begin, I'd like to remind you that certain statements made by management in this morning's conference call regarding One Water Marine and its operations may be considered forward-looking statements under securities law and involve a number of risks and uncertainties. As a result, the company cautions you that there are a number of factors, many of which are beyond the company's control, which could cause actual results and events
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