OneWater Marine falls after slashing 2023 earnings outlook, Q3 miss

OneWater Marine

03/08/2023 17:08

** Shares of marine retailer OneWater Marine  ONEW.O  fall
28.7%, to $26.2, their lowest in three months
    ** Co slashes 2023 EPS guidance in range of $4.45 to $4.70
vs previous guidance range of $7.50 to $8.00 
    ** Posts Q3 adj. earnings of $1.95​​ per share, vs analysts'
estimate of $3.31 per share, due to pressured margins 
    ** Stock set to post worst day since March 2020, if losses
hold
    ** Also posts lower-than-expected Q3 revenue of $594.34 mln,
hurt by decrease in its new boat revenue
    ** Including session's losses, stock down 3.11% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))