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) announced a special dividend of $1.80 per share for Class A Common Stock, payable on July 19, 2021. Shareholders must be on record by June 28, 2021. Additionally, OneWater LLC will distribute the same amount to unitholders on the same dates. The CEO highlighted strong cash flows and growth since going public, along with ongoing acquisition opportunities to enhance market leadership.
OneWater Marine Inc. (NASDAQ: ONEW) announced its acquisition of Stone Harbor Marina, enhancing its presence in the northeastern U.S. The acquisition, expected to close in fiscal Q4 2021, aims to boost new and pre-owned boat sales and services. Stone Harbor, with over 50 years of experience, generated approximately $35 million in sales in the last twelve months. The deal is anticipated to leverage OneWater's digital platform and resources to maximize revenues and operational efficiency for both companies.
OneWater Marine reported a record fiscal second quarter for 2021, with revenues rising 74% to $329.6 million and net income up tenfold to $30.6 million, or $1.83 per diluted share. Adjusted EBITDA surged 315% to $40.1 million. The company is raising its full-year guidance, expecting same-store sales to grow in the mid-to-upper teens, and Adjusted EBITDA to reach between $130 million and $135 million. The management highlighted strong consumer demand and effective execution, alongside strategic acquisitions, which are expected to enhance operational efficiencies.
OneWater Marine Inc. (NASDAQ: ONEW) has announced its appointment as the sole U.S. distributor for Sunseeker Yachts, effective from the anticipated closing in Q3 2021. This partnership aims to enhance OneWater's position in the luxury yacht market following the recent formation of the OneWater Yacht Group. The agreement enables OneWater to manage the Sunseeker dealer network across various U.S. markets, expanding its portfolio and geographical reach. OneWater operates 69 retail locations across 10 states, solidifying its status as a leading recreational boat retailer.
OneWater Marine Inc. (NASDAQ: ONEW) will release its fiscal Q2 2021 financial results on April 29, 2021, before market opening. Following the release, a conference call hosted by management is scheduled for 8:30 a.m. ET. Interested participants can join by calling (866) 220-5793 in the U.S./Canada, or (615) 622-8064 internationally, using Conference ID #1757237. The call will also be available via webcast on the Company’s website under the 'Events' section, and it will be archived for one year.
OneWater Marine Inc. has launched the OneWater Yacht Group, consolidating its yacht sales teams under a unified brand to enhance its market presence and growth potential. This new group will operate branded sales offices across several states, including Florida and New York, representing premium yacht brands. The initiative also features the Roscioli Yachting Center, a full-service marina acquired in December 2020, which will support superior service delivery. CEO Austin Singleton emphasized the focus on redefining yacht buying and ownership standards.
OneWater Marine reported a 39% increase in revenue for Q1 2021, totaling $214.1 million, driven by significant new boat sales. Same-store sales rose 38%, and net income reached $11.8 million, or $0.71 per diluted share. The company completed three large acquisitions that previously generated over $125 million in annual revenue. The adjusted EBITDA for the quarter stood at $16.7 million. The company projects mid-single digit growth in same-store sales for FY 2021 and expects adjusted EBITDA between $95 million and $100 million.
OneWater Marine Inc. (NASDAQ: ONEW) will release its fiscal first quarter financial results on February 4, 2021, before the market opens. Management will host a conference call at 8:30 a.m. ET to discuss the results. Interested participants can join the call by dialing (866) 220-5793 in the U.S./Canada or (615) 622-8064 internationally, using Conference ID #8459613. The call will also be accessible via webcast on the Company’s website, where it will be archived for one year.
OneWater Marine Inc. (NASDAQ: ONEW) announced the acquisition of Roscioli Yachting Center, enhancing its yacht category presence and expanding service offerings. Located in Fort Lauderdale, Florida, Roscioli generated over $15 million in revenue in the past year and boasts over one hundred skilled team members. This acquisition provides a platform for future growth and aims to deliver top-tier yacht services, aligning with OneWater’s strategy of redefining yacht servicing standards.
OneWater Marine Inc. (NASDAQ: ONEW) has completed its largest acquisition to date by acquiring Walker Marine Group, enhancing its presence in Florida. Walker Marine operates five locations and generated over $80 million in revenue over the past twelve months. This acquisition aligns with OneWater's strategy to expand its market-leading dealerships, aiming for operational synergies and improved profit margins. The integration is expected to bolster customer relationships and leverage OneWater's digital capabilities.
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