OneWater Marine yesterday announced the results of its fiscal year 2022 first quarter.
The retailer reported that revenue increased year over year in the quarter by 57 percent to $336 million, while net income increased 99 percent to $23 million. Net income per diluted share attributable to OneWater increased 105 percent to $1.45. Gross profit increased 550 basis points to 30 percent.
“The OneWater team once again delivered an exceptional quarter in the face of ongoing supply chain challenges,” CEO Austin Singleton said in a statement. “Our same-store sales increased 28 percent, compared to a tremendous quarter last year, highlighting the strength of our team and effective use of our advanced inventory management tools.”
The company also reported four acquisitions in the quarter.
“We completed acquisitions of Naples Boat Mart, T-H Marine, Norfolk Marine and acquired a controlling interest in Quality Boats, all of which will be immediately accretive to OneWater,” Singleton said. “Looking to the remainder of the year, we remain focused on executing our long-term growth strategy, continuing to expand our earnings potential and realizing the power of our acquisition strategy on the future of OneWater.”
The full financial disclosure is available here
