OneWater Marine (NASDAQ:ONEW) Issues Earnings Results

OneWater Marine (NASDAQ:ONEW) issued its quarterly earnings results on Thursday. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02), FiscalAI reports. OneWater Marine had a negative net margin of 6.69% and a positive return on equity of 2.22%. The business had revenue of $530.71 million during the quarter, compared to analyst estimates of $553.73 million. OneWater Marine updated its FY 2026 guidance to 0.350-0.550 EPS.

Here are the key takeaways from OneWater Marine’s conference call:

• Margin and profitability improved: Third-quarter gross margin expanded 70 basis points to 24%, while adjusted EBITDA rose to $38 million from $33 million despite a 4% revenue decline. Management attributed the gains to favorable product mix, pricing discipline, cost reductions, and strategic brand exits.
• Balance sheet strengthened ahead of schedule: Adjusted net leverage improved to 3.7x from 5.8x a year ago, reaching the company’s under-4x year-end target early. OneWater said it is exploring debt refinancing options.
• Retail market remains challenging: Management now expects the marine industry to decline by high single digits year over year, with dealership same-store sales projected to fall by low to mid-single digits. Fiscal-year guidance was narrowed to revenue of $1.75 billion-$1.8 billion, adjusted EBITDA of $68 million-$78 million, and adjusted EPS of $0.35-$0.55.
• Inventory and premium demand are holding up: New-boat revenue declined 2% and pre-owned revenue fell 4%, but higher average selling prices, disciplined inventory management, and stable customer engagement—particularly in premium brands—helped protect margins. July trends were described as flattish to slightly positive, though management said a broad market recovery has not yet arrived.

OneWater Marine Stock Performance

Shares of ONEW stock traded up $0.07 during trading on Friday, reaching $12.46. 58,739 shares of the company’s stock traded hands, compared to its average volume of 136,718. The firm’s 50-day moving average is $11.53 and its 200 day moving average is $11.34. The company has a current ratio of 1.16, a quick ratio of 0.29 and a debt-to-equity ratio of 1.23. OneWater Marine has a 1 year low of $8.12 and a 1 year high of $17.92. The company has a market capitalization of $207.14 million, a P/E ratio of -1.66 and a beta of 1.53.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ONEW. Weiss Ratings lowered shares of OneWater Marine from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. Truist Financial cut their price target on OneWater Marine from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Robert W. Baird set a $13.00 price objective on OneWater Marine in a report on Friday, May 1st. Finally, KeyCorp reduced their price target on shares of OneWater Marine from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.33.

Insider Activity

In other news, Chairman Philip Austin Jr. Singleton bought 21,930 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was acquired at an average price of $10.88 per share, with a total value of $238,598.40. Following the completion of the purchase, the chairman directly owned 801,816 shares in the company, valued at $8,723,758.08. This represents a 2.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Troiano sold 27,844 shares of OneWater Marine stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $12.07, for a total value of $336,077.08. Following the completion of the transaction, the director owned 41,438 shares in the company, valued at approximately $500,156.66. This represents a 40.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On OneWater Marine

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in OneWater Marine by 94.4% during the third quarter. BNP Paribas Financial Markets now owns 2,872 shares of the company’s stock valued at $45,000 after buying an additional 1,395 shares during the period. Los Angeles Capital Management LLC bought a new stake in OneWater Marine during the fourth quarter worth about $82,000. JPMorgan Chase & Co. boosted its stake in OneWater Marine by 50.0% during the third quarter. JPMorgan Chase & Co. now owns 8,129 shares of the company’s stock worth $129,000 after acquiring an additional 2,710 shares in the last quarter. Man Group plc purchased a new stake in OneWater Marine in the fourth quarter worth about $139,000. Finally, Wells Fargo & Company MN grew its holdings in OneWater Marine by 39.9% in the fourth quarter. Wells Fargo & Company MN now owns 12,973 shares of the company’s stock worth $140,000 after purchasing an additional 3,701 shares during the period. Institutional investors own 94.32% of the company’s stock.

OneWater Marine Company Profile

OneWater Marine Inc (NASDAQ: ONEW) is a leading U.S.-based recreational boat retailer offering a comprehensive range of marine products and services. Since its public debut in 2018, the company has built a broad network of locations that serve both coastal and inland markets. OneWater Marine focuses on delivering a full-service customer experience, from initial boat selection to long-term maintenance and support.

Through its dealership network, OneWater Marine markets new and pre-owned powerboats and personal watercraft from top manufacturers.