OneWater Marine Inc · Q1 2022 earnings

Briefing

Revenue increased due to same-store sales and acquisitions, with significant growth in net income and adjusted EBITDA.

OneWater Marine reported a strong first quarter with a 57% increase in revenue to $336.3 million, driven by a 28% increase in same-store sales and contributions from acquired businesses. Net income increased by 99% to $23.5 million, and adjusted EBITDA rose by 146% to $41.0 million. The company also completed four strategic acquisitions during the quarter.

• Revenue increased by 57% to $336 million.
• Same-store sales increased by 28%.
• Net income increased by 99% to $23 million.
• Adjusted EBITDA increased by 146% to $41 million.

Headline financials

Revenue & EPS history

OneWater Marine is raising its fiscal full year 2022 outlook for Adjusted EBITDA to be in the range of $210 million to $220 million and earnings per diluted share to be in the range of $8.00 to $8.40, both of which includes the previously completed acquisitions and the recently announced acquisition of JIF Marine but excludes any other acquisitions that may be completed during the year. For the fiscal year 2022, OneWater maintains its anticipation that same store sales to be up high-single digits, despite an expected challenging inventory environment.