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.
On October 4, 2021, OneWater Marine (NASDAQ: ONEW) announced the acquisition of Naples Boat Mart, enhancing its presence on Florida's West Coast. This acquisition will broaden the company's offerings in new and pre-owned boat sales, storage, service, and financing.
CEO Austin Singleton expressed optimism about the growth prospects from this strategic move. OneWater operates 71 stores across 11 states, providing diverse revenue streams, including boat sales and maintenance services.
OneWater Marine Inc. (NASDAQ: ONEW) announces its participation in the Raymond James & Associates Consumer Conference on September 14, 2021, at 9:20 a.m. ET. CEO Austin Singleton and CFO Jack Ezzell will engage in a virtual fire-side chat, with opportunities for investor meetings. An audio webcast of the presentation will be available on the company’s Investor Relations website, along with a replay for one year. OneWater is a leading recreational boat retailer in the U.S., operating 71 stores across 11 states, offering diverse products and services including boat sales, financing, and maintenance.
OneWater Marine Inc. has successfully completed the acquisition of PartsVu, an online marketplace specializing in OEM marine parts and accessories. This strategic move enhances OneWater's presence in the marine parts sector and diversifies its revenue streams, reducing reliance on cyclic boat sales. The acquisition aligns with OneWater's growth initiatives and aims to solidify its leadership in the marine industry, particularly in the high-margin parts and accessories market.
PORT 32 Marinas announced the acquisition of three marinas in Naples, Marco Island, and Cape Coral, Florida, from Walker Marine Group. This marks PORT 32's first acquisition post-recapitalization led by Fireside Investments. The Walker Marinas offer approximately 1,015 slips and commercial lease income from OneWater Marine Inc. Following these acquisitions, PORT 32 will manage about 4,100 slips and over 140,000 SF of commercial space. CEO Joe H. Miller expressed enthusiasm for the acquisition, aligning with the company's strategy of enhancing its portfolio with top-tier marina assets.
OneWater Marine Inc. (NASDAQ: ONEW) has successfully completed the acquisition of Stone Harbor Marina, enhancing its market reach in the northeastern U.S. This strategic move aims to boost new and pre-owned boat sales, along with storage, service, repair, and finance offerings. CEO Austin Singleton expressed optimism regarding the integration of Stone Harbor and its potential to drive growth for the company and value for shareholders. OneWater operates 70 stores in 11 states, positioning itself as a leading player in the premium recreational boat retail market.
OneWater Marine reported fiscal Q3 2021 revenue of $404.2 million, down 1.0% year-over-year. Gross profit margin expanded 822 basis points to 31.4%, driven by higher-margin service sales, which surged 58.1%. Net income rose 27% to $51.6 million, translating to $3.04 per diluted share. The company announced a special dividend of $1.80 per share and raised its 2021 Adjusted EBITDA forecast to $150-155 million. However, same-store sales declined 11% due to ongoing inventory challenges.
OneWater Marine Inc. (NASDAQ: ONEW) has signed an agreement to acquire PartsVu, an online marketplace for OEM marine parts, electronics, and accessories. The acquisition will enhance OneWater’s presence in the marine parts sector, reducing dependency on boat sales cyclicality. PartsVu generated approximately $25 million in sales in the past year and has consistently doubled its sales volume annually since its inception. The transaction is expected to finalize in Q4 2021.
OneWater Marine Inc. has announced an agreement to acquire the assets of Naples Boat Mart, enhancing its presence on the West Coast of Florida. This acquisition will expand offerings in new and pre-owned boat sales, service, and repair, with the transaction expected to close in Q4 2021. Naples Boat Mart, a family-owned business, generated approximately $30 million in sales over the past year and represents premier brands like Grady White and Hurricane. The acquisition is part of OneWater's strategy to bolster its market position in Florida.
OneWater Marine Inc. (NASDAQ: ONEW) will release its fiscal Q3 2021 financial results on July 29, 2021, before market open. A conference call hosted by management at 8:30 a.m. Eastern Time will discuss these results. Interested parties can access the call at (866) 220-5793 in the U.S. or (615) 622-8064 internationally using Conference ID #8777164. The call will also be webcast and archived on the Company website.
OneWater operates 69 retail locations across 10 states, positioning itself as a leading premium recreational boat retailer.
OneWater Marine Inc. (NASDAQ: ONEW) announced that industry veteran James Brewer will become Managing Director of the Roscioli Yachting Center, starting July 12, 2021. Brewer brings over 40 years of marine experience, including his tenure at Derecktor Shipyards. His role will focus on strategy and growth for the Roscioli Yachting Center, which offers services for yachts up to 150 feet and supports sales of brands like Sunseeker. The announcement reflects OneWater's commitment to enhancing its yachting capabilities and expanding its market presence.
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