Q1 2026 OneWater Marine Inc Earnings Call Transcript
Key Points
- OneWater Marine Inc (ONEW) reported a 1% increase in fiscal first quarter revenue, reaching $381 million compared to the prior year.
- Pre-owned boat sales surged by 24%, driven by increased unit sales and higher average unit prices.
- Gross profit margin expanded by 110 basis points to 23.5%, attributed to strategic inventory optimization and portfolio efforts.
- The company successfully completed strategic brand initiatives, leading to improved gross margins.
- OneWater Marine Inc (ONEW) maintained a strong inventory position with a healthy mix of new boats and supportive OEM partners.
- New boat sales declined by 6% compared to the prior year, reflecting softer demand in this segment.
- The company reported a net loss of $8 million for the quarter, although this was an improvement from the prior year's $14 million loss.
- Finance and insurance income decreased slightly as a percentage of total sales due to a shift in product mix.
- A $7 million impairment charge was recognized related to distribution assets classified as held for sale.
- The company anticipates flat same-store sales for the fiscal year, impacted by brand rationalization headwinds.
Good morning. My name is Julie, and I will be your conference operator today. At this time, I would like to welcome everyone to the OneWater Marine Inc. fiscal first quarter 2026 conference call. (Operator Instructions)
Thank you. I would now like to turn the conference over to Jack Ezzell, Chief Financial Officer. Please go ahead.
Good morning, and welcome to OneWater Marine's fiscal first quarter 2026 earnings conference call. I'm joined on the call today by Austin Singleton, Executive Chairman; and Anthony Aisquith, Chief Executive Officer.
Before we begin, I'd like to remind you that certain statements made by management in this morning's conference call regarding OneWater Marine and its operations may be considered forward-looking statements under securities laws 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
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