Welcome to our dedicated page for OneWater Marine news (Ticker: ONEW), a resource for investors and traders seeking the latest updates and insights on OneWater Marine stock.
OneWater Marine Inc. (Symbol: ONEW) is a prominent recreational boat retailer based in the United States. Established in 2014 and headquartered in Buford, Georgia, the company has rapidly expanded to operate 61 stores across 21 dealer groups in 10 states, including Texas, Florida, Alabama, North Carolina, South Carolina, and Georgia.
OneWater Marine specializes in both new and pre-owned recreational boats and yachts. Their extensive product portfolio also includes a wide range of related marine products, such as parts and accessories. Additionally, they offer comprehensive boat repair and maintenance services, making them a one-stop shop for boating enthusiasts.
The company also provides various ancillary services, including boat financing and insurance, indoor and outdoor storage, marina services, and the rental of boats and personal watercraft. These diverse offerings help enhance the overall customer experience and foster long-term customer relationships.
OneWater Marine operates under two primary segments: Dealerships and Distribution. Their dealer groups are strategically located throughout the Southeast, Gulf Coast, Mid-Atlantic, and Northeast regions, contributing to a robust revenue profile. The majority of their revenue is derived from new boat sales, followed by pre-owned boat sales, finance and insurance products, repair and maintenance services, and parts and accessories.
Despite the challenges faced by the marine industry, OneWater Marine has shown resilience and strategic prowess. The company has been executing its strategic priorities to maintain a strong competitive position. Recent achievements include outperforming the industry and gaining market share in a competitive sales environment. Furthermore, OneWater Marine continues to focus on its strategic growth objectives, and its management team is committed to driving enhanced value for shareholders.
Financially, as of December 31, 2023, the company reported total long-term debt of $439.8 million, with adjusted long-term net debt (net of $44.6 million cash) at 2.6 times trailing twelve-month Adjusted EBITDA. The company's non-GAAP financial measures, including Adjusted EBITDA, are crucial for understanding its operating performance and making meaningful comparisons of past and present results.
In addition to financial performance, OneWater Marine is actively expanding its market presence through strategic acquisitions, such as strengthening its foothold in the Mid-Atlantic U.S. The company remains optimistic about its fiscal outlook for 2024, maintaining its previously issued guidance.
OneWater Marine Inc. (NASDAQ: ONEW) has entered a multi-year strategic partnership with the Sport Fishing Championship (SFC) to integrate its dealership network and services into SFC's operations. As a "Corporate Champion," OneWater will utilize SFC’s tournament activation, media, and hospitality assets to enhance visibility in the fishing and yachting industries. The five-year partnership aims to promote saltwater fishing and expand OneWater's reach. The SFC’s 2023 Season Schedule is set to be released in November.
OneWater Marine Inc. has announced the acquisition of Harbor View Marine, enhancing its presence in the Florida Gulf Coast market. This strategic move is expected to boost sales of new and pre-owned boats, alongside finance and service offerings. Harbor View, a family-owned business with a strong local reputation, has generated approximately $21 million in sales over the past year. The transaction is set to close in the first quarter of fiscal 2023, reinforcing OneWater's commitment to growth in the marine retail industry.
OneWater Marine Inc. (NASDAQ: ONEW) has successfully completed its acquisition of Taylor Marine Centers, enhancing its market presence in the Mid-Atlantic U.S. The deal aims to bolster new and pre-owned boat sales, financing, and service offerings. CEO Austin Singleton noted the acquisition complements the recent Norfolk Marine acquisition, reinforcing the company’s strategic growth in key marine markets. With 98 retail locations and operations across 20 states, OneWater continues to strengthen its diverse revenue streams in the marine retail sector.
OneWater Marine Inc. (NASDAQ: ONEW) has announced its acquisition of Taylor Marine Centers, aiming to strengthen its presence in the Mid-Atlantic U.S. This strategic move follows the earlier acquisition of Norfolk Marine, enhancing both new and pre-owned boat sales and services. Taylor Marine Centers generated approximately $29 million in sales over the past year and boasts a legacy of over 50 years in the Delmarva Peninsula. The transaction is expected to close within the next 90 days.
OneWater Marine Inc. has entered a strategic partnership with Forza X1 to create a distribution channel for electric sports boats. This agreement aims to enhance sustainable recreational boating, allowing consumers to purchase boats through a digital platform or at OneWater’s 96 retail locations. Forza X1's electric boats target the recreational day boat market, focusing on performance and comfort. This collaboration positions OneWater to leverage its extensive sales network, while potentially increasing Forza X1's market reach and sales.
OneWater Marine Inc. (NASDAQ: ONEW) has appointed Steve Roy as an independent director, expanding the Board from ten to eleven members. Effective August 12, 2022, this addition is aimed at enhancing the Company’s growth strategy. Roy, with extensive experience in finance, previously served as CFO at AAA Cooper Transportation and as CFO at Movie Gallery, Inc. His expertise is expected to contribute significantly to OneWater’s objectives in the marine retail industry, which spans 96 retail locations and various revenue streams.
OneWater Marine Inc. has completed the acquisition of Ocean Bio-Chem, Inc., a leading supplier in the marine and automotive cleaning products market. This strategic move aims to enhance OneWater's presence in the marine parts and accessories sector. CEO Austin Singleton noted the acquisition will leverage their integration strategies to increase market share and drive profit margins. OneWater operates 96 retail locations and diversifies its revenues across various sectors, including boat sales and maintenance services.
OneWater Marine reported strong fiscal Q3 2022 results with revenue up 41% to $568.9 million and net income rising 25% to $64.5 million, translating to $3.86 per diluted share. Same-store sales grew 12%, driven by new and pre-owned boat sales, which increased 30.8% and 38.1%, respectively. Adjusted EBITDA climbed 45% to $95.1 million. The company also raised its fiscal year 2022 Adjusted EBITDA guidance to $240-$250 million. Effective management and an active acquisition strategy, including the purchase of Ocean Bio-Chem, support OneWater's growth trajectory.
OneWater Marine Inc. (NASDAQ: ONEW) will announce its fiscal third quarter 2022 financial results on August 4, 2022, before market opening. The management team will conduct a conference call at 8:30 a.m. Eastern Time the same day to discuss the results. Interested participants can register online to receive the call details. OneWater is a leading marine retailer in the U.S., operating 96 retail locations and offering a variety of marine products and services.
OneWater Marine Inc. (NASDAQ: ONEW) has announced its acquisition of Ocean Bio-Chem, Inc. (NASDAQ: OBCI) for $13.08 per share, totaling approximately $125 million. This move aims to enhance OneWater's growth in the parts and accessories sector by integrating OBCI’s recognized brands and operational efficiencies into its subsidiary, T-H Marine Supplies. The transaction, expected to close in Q4 2022, will be financed through an extension of OneWater’s term loan. Both companies anticipate synergies in customer engagement and market expansion.
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