Gold prices edge higher; Fed indepedence fears spur safe haven buying
BUFORD, Ga. - OneWater Marine Inc. (NASDAQ:ONEW) reported better-than-expected fiscal first quarter results on Thursday, as the boat retailer saw higher unit sales despite a challenging market environment.
The company posted a Q1 adjusted loss per share of $0.54, beating analyst estimates for a loss of $0.86 per share. Revenue rose 3.2% YoY to $375.8 million, surpassing expectations of $337.5 million.
Same-store sales increased 4.2% in the quarter, driven by higher unit sales in both new and pre-owned boat categories. New boat revenue grew 2.9% to $248 million, while pre-owned boat revenue climbed 6.6% to $56.8 million.
"First quarter results exceeded expectations driven by higher unit sales in both new and preowned categories," said CEO Austin Singleton. "Our strategic inventory management and operational execution drove outperformance against the industry, and our team did a great job working down inventory."
Gross profit margin declined to 22.4% from 25.1% last year, impacted by pricing pressure and the company exiting certain brands. OneWater said it remains "cautiously optimistic" for the year ahead, supported by a healthy inventory position.
The company maintained its fiscal 2025 outlook, forecasting revenue of $1.7-$1.85 billion and adjusted earnings per share of $1.00-$2.00.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.