OneWater Marine announced the results for its fiscal third quarter, ended June 30.
Quarterly revenue was $552.9 million, an increase of 1.9% compared with $542.4 million in the prior-year quarter. Same-store sales increased 2%. New-boat revenue decreased 2.1%, driven by a decrease in units sold and partially offset by an increase in average price per unit. Preowned-boat revenue increased 17.8%, driven by an increase in units sold and average price per unit.
“The quarter highlighted our ability to outperform broader industry trends despite macroeconomic uncertainty. As expected, a highly competitive environment and significant promotional activity across the industry continue to pressure margins,” CEO Austin Singleton said in a statement.
Gross profit totaled $128.7 million for quarter, down $3.9 million from $132.6 million year-over-year. Gross profit margin of 23.3% decreased 110 basis points compared with the prior year, driven by new-boat model mix and pricing on continuing brands, as well as the impact of select brands the company is exiting.
Quarterly net income totaled $10.7 million, compared with net income of $16.7 million a year ago. The company reported net income per diluted share of $0.65, compared with $0.99 in 2024.
OneWater updated its full-year outlook in the report, as the company now anticipates revenue in the range of $1.8 billion to $1.85 billion and same-store sales to be up low single digits. Adjusted EBITDA is expected to be in the range of $65 million to $80 million, and adjusted diluted earnings per share are expected to be in the range of $0.50 to $0.75.
