OneWater Marine Inc. reported a net loss of $375,000 in its fiscal second quarter ended March 31, as revenue slipped 1% to $484 million and same-store sales declined 2%. The company also updated its full-year guidance, citing persistent macroeconomic headwinds and the continuing recovery from last summer’s hurricanes.
New boat revenue fell 5.4% year-over-year, though the company saw gains in pre-owned boat sales, which rose 14.1%. Gross profit declined to $110.4 million, down $10 million from the year-before quarter, with margins narrowing to 22.8%. Adjusted EBITDA for the quarter came in at $17.9 million, down from $28.3 million in the same period last year. OneWater also reduced its total inventory by 12% compared to Q2 2024.
“Our teams executed well in a challenging environment,” said CEO Austin Singleton in a statement. “We continue to benefit from our strategic approach to inventory management and strong operational execution, which led to a 12% inventory reduction year over year and 5% sequentially.”
Looking ahead, the company now expects fiscal 2025 revenue to range between $1.7 billion and $1.8 billion. Same-store sales are forecast to be flat to down in the low single digits. OneWater said it will remain focused on cost-cutting and brand portfolio rationalization to navigate the uncertainty in the market.
