NASDAQ$ONEW
OneWater Marine Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Announced fiscal fourth quarter and full-year 2023 results, demonstrating strong competitive positioning despite a challenging year in the marine industry.
OneWater Marine Inc. reported a revenue increase of 13.4% to $451.0 million for fiscal fourth quarter 2023 compared to the prior year. Same-store sales increased by 14.6%. However, the company recorded a net loss of $(110.9) million due to a non-cash impairment charge of $147.4 million related to certain goodwill and identifiable intangible assets.
- Revenue for fiscal fourth quarter 2023 was $451.0 million, an increase of 13.4% compared to fiscal fourth quarter 2022.
- Dealership same-store sales increased 14.6% driven by increases in both units sold and average price per unit.
- Net loss for fiscal fourth quarter 2023 totaled $(110.9) million, compared to net income of $22.3 million for the same period last year, due to a non-cash impairment charge.
- Adjusted earnings per diluted share for fiscal fourth quarter 2023 was $0.42, compared to $1.68 in 2022.
Headline financials
Revenue & EPS history
OneWater Marine · Revenue · Quarterly
$451M
Revenue by segment
OneWater Marine · $36.7M total across 2 segments · Q4 2021
- Service, parts & other sales$27M+33.3%73.6%
- Finance & insurance income$9.68M+25.0%26.4%
Forward guidance
For fiscal full year 2024, OneWater anticipates dealership same-store sales to be up low to mid-single digits. Adjusted EBITDA is expected to be in the range of $130 million to $155 million and earnings per diluted share is expected to be in the range of $3.25 to $3.75.
Tailwinds
- Dealership same-store sales are expected to increase in the low to mid-single digits.
- Adjusted EBITDA is projected to be between $130 million and $155 million.
- Earnings per diluted share are anticipated to be in the range of $3.25 to $3.75.
- Guidance does not anticipate a major economic downturn or recovery.
- Proactive and aggressive approach to inventory management positions the company well as it enters the seasonally slower winter months.
Headwinds
- Challenging macroeconomic environment is expected.
- Forward-looking Adjusted EBITDA reconciliations are not available without unreasonable effort.
- Change in fair value of contingent consideration and transaction costs are difficult to predict.
- The boat industry is subject to seasonality and volatility.
- Effects of industry wide supply chain challenges including a heightened inflationary environment and our ability to maintain adequate inventory.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-1.8%
Avg return
Earnings day
-1.3%
Avg return
5 days after
-0.5%
Avg return
30 days after
44%
11 / 25 earnings
Positive
+13.7%
Q1 2025
Best reaction
-28.2%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -7.4% | +7.3% | +9.0% | |
| Q1 2026 | -2.9% | +5.5% | -13.9% | |
| Q4 2025 | -10.2% | -20.8% | -25.5% | |
| Q2 2025 | -8.5% | -17.4% | -1.6% | |
| Q1 2025 | +13.7% | +16.8% | +7.9% | |
| Q4 2024 | -15.6% | -18.8% | -10.8% | |
| Q3 2024 | -19.0% | -26.8% | -21.4% | |
| Q2 2024 | +12.6% | +12.0% | +28.2% | |
| Q1 2024 | +7.3% | +3.0% | +4.0% | |
| Q4 2023 | -1.9% | -1.3% | +19.1% | |
| Q3 2023 | -28.2% | -27.9% | -28.2% | |
| Q2 2023 | +8.4% | +12.4% | +20.1% | |
| Q1 2023 | -12.0% | -12.2% | -15.2% | |
| Q4 2022 | -7.7% | -6.1% | -6.3% | |
| Q3 2022 | +7.5% | +4.5% | +6.1% | |
| Q2 2022 | +2.3% | +3.5% | -1.1% | |
| Q1 2022 | -2.9% | +2.9% | -2.1% | |
| Q4 2021 | +7.2% | +7.3% | -2.9% | |
| Q3 2021 | +6.2% | +4.0% | -7.2% | |
| Q2 2021 | -0.4% | +7.1% | -4.2% | |
| Q1 2021 | +7.0% | +0.3% | +5.9% | |
| Q4 2020 | +1.9% | +15.5% | +16.7% | |
| Q3 2020 | -11.5% | -6.2% | +2.8% | |
| Q2 2020 | +9.8% | +17.5% | +70.2% | |
| Q1 2020 | -0.5% | -15.2% | -61.7% | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2017 | — | — | — |
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