OneWater Marine Q2 revenue misses, hurt by boat show timing

OneWater Marine

30/04/2026 12:17

Overview

U.S. marine retailer's fiscal Q2 revenue fell 9%, missing analyst expectations

Company repaid $57 mln in debt, aided by Ocean Bio-Chem sale proceeds

Outlook

OneWater Marine maintains fiscal 2026 revenue outlook of $1.78 bln to $1.88 bln

Company expects fiscal 2026 adjusted EBITDA of $60 mln to $80 mln

OneWater Marine sees fiscal 2026 adjusted diluted EPS between $0.20 and $0.70

Result Drivers

BOAT SHOW TIMING & OBCI DIVESTITURE - Co said revenue decline was primarily due to timing of Palm Beach International Boat Show and the impact of the Ocean Bio-Chem divestiture

MARGIN DISCIPLINE & PRODUCT MIX - Gross profit margin increased due to favorable new and pre-owned boat model mix and continued focus on margin discipline and product mix optimization

COST REDUCTION & EXPENSE MANAGEMENT - Lower selling, general and administrative expenses reflected prior cost reduction actions and ongoing expense management

Company press release: ID:nBw5rPYvda

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$442.29 mln
$479.62 mln (5 Analysts)
Q2 Net Income
-$12.90 mln
Q2 Gross Profit
$105.53 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the recreational products peer group is "buy"

Wall Street's median 12-month price target for OneWater Marine Inc is $15.50, about 53.3% above its April 29 closing price of $10.11

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 15 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)