In a turbulent market, Onewater Marine Inc. (NASDAQ:ONEW) has hit a new 52-week low, with shares dropping to $16.65. According to InvestingPro data, the company’s market capitalization stands at $247 million, with analysts setting price targets between $23 and $31. This significant downturn reflects a stark 46.24% decline over the past year, underscoring the challenges faced by the recreational boat retailer in a period marked by economic uncertainty and shifting consumer spending habits. While current financials show a negative earnings trend, InvestingPro analysis indicates net income growth expectations for the upcoming year, with eight additional exclusive insights available for subscribers. Investors are closely monitoring the company’s performance as it navigates through these choppy waters, with hopes of a strategic pivot that could steer the stock back towards calmer seas and upward trends. The company’s next earnings report is scheduled for January 30, 2025.
In other recent news, OneWater Marine Inc. navigated through post-hurricane recovery, as reflected in its fiscal fourth quarter and full year 2024 results. Despite a 16% decrease in total revenue to $378 million and a net loss of $10 million, the company showed resilience with all retail locations now operational. The net loss marked an improvement from the previous year, and the company’s full-year operating income for 2024 was $65 million, a significant rise from $18 million in the previous year.
The company ended the year with total liquidity of $30 million and long-term debt of $423 million. Looking ahead, OneWater Marine projects total sales for 2025 to be between $1.7 billion and $1.85 billion, with adjusted EBITDA ranging from $80 million to $110 million.
CEO Austin Singleton and CFO Jack Ezzell expressed cautious optimism for margin improvements in fiscal 2025, especially for new boats. They anticipate parts and service margins to remain above 40% despite consolidation charges. OneWater Marine is implementing additional cost savings, with a $10 million cut in March and another $5 million at the end of the year. These are some of the recent developments in OneWater Marine’s journey to recovery.
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