Q2 2026 OneWater Marine Inc Earnings Call Transcript
Key Points
- OneWater Marine Inc (ONEW) reported a 110 basis point increase in gross margin, driven by favorable mix shift and brand portfolio optimization.
- The company successfully reduced its debt by USD $57 million, supported by the sale of Ocean Biochem and strong operating cash flows.
- Pre-owned boat revenue increased by 5%, supported by improved availability and higher unit sales.
- Finance penetration remains strong, with over 60% of customers choosing to finance a portion of their purchase.
- The company is on track to achieve its leverage target later this year, with net debt to EBITDA improving to 4.1 times.
- Revenue for the quarter declined 9% year-over-year, with same-store sales down 8%.
- New boat revenue decreased by 12%, impacted by event timing and lower unit volumes.
- Service, parts, and other revenue declined by 11%, primarily due to the absence of contributions from Ocean Biochem.
- The company reported a net loss of USD $13 million for the quarter, compared to a net loss of USD $375,000 in the prior year.
- Industry retail demand remains pressured, with SSI data indicating double-digit declines in the categories in which OneWater Marine Inc (ONEW) competes.
Good morning. My name is Matt, and I'll be your conference operator today.
At this time, I would like to welcome everyone to the One Water Marine Second Quarter 2026 Earnings Conference Call.
All lines have been placed on mute to prevent any background noise.
After today's prepared remarks, we will host a question-and-answer session. If you'd like to ask a question, please press *1 to raise your hand. To withdraw your question, press *1 again. I will now hand the conference over to Jack Ezzell, Chief Financial Officer and Chief Operating Officer. Jack, please go ahead.
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Good morning, and welcome to One Water Marine's fiscal second-quarter 2026 earnings conference call. I am joined on the call today by Austin Singleton, Executive Chairman, and Anthony Ascliffe, 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 One
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