OneWater Marine Inc. (ONEW) Earnings
OneWater Marine Inc. is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $0.71. ONEW has beaten EPS estimates in 2 of its last 12 reported quarters (average surprise -1279.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $0.09 | $-0.34 | -477.8% | $442M | -7.3% |
| Jan 29, 2026 | $-0.39 | $-0.04 | +89.7% | $381M | -22.5% |
| Nov 13, 2025 | $0.15 | $-6.90 | -4699.6% | $460M | +20.0% |
| Jul 31, 2025 | $1.12 | $0.79 | -29.5% | $553M | +35.3% |
| May 1, 2025 | $0.25 | $0.13 | -48.0% | $484M | -12.7% |
| Jan 30, 2025 | $-0.94 | $-0.54 | +42.6% | $376M | -23.7% |
| Nov 14, 2024 | $0.08 | $-0.36 | -550.0% | $378M | +4.3% |
| Jul 30, 2024 | $2.12 | $1.05 | -50.5% | $542M | +27.8% |
| May 2, 2024 | $0.72 | $0.67 | -6.9% | $488M | -2.4% |
| Feb 1, 2024 | $-0.30 | $-0.38 | -26.7% | $364M | -0.2% |
| Nov 16, 2023 | $0.47 | $0.42 | -10.6% | $451M | +8.3% |
| Aug 3, 2023 | $3.31 | $1.95 | -41.1% | $594M | +42.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Retail environment is challenging. - Boat margins improved, portfolio optimized, and leverage reduced. - Revenue decline due to event timing and portfolio changes, with Palm Beach Boat Show timing shift accounting for half of new boat sales decline. - Completed sale of Ocean Biochem as part of portfolio optimization. - Inventory in best condition in years, healthy mix and age profile. - Focus on enhancing profitability and reducing balance sheet leverage, driving margin expansion with streamlined portfolio. - Industry retail demand pressured, but OneWater saw lower new boat volumes offset by disciplined pricing and favorable mix, pre-owned business bright with 5% revenue increase, premium categories and brands performing better, finance penetration within target range, parts and service providing stability (excluding Ocean Biochem impact, parts and service sales increased for dealership and distribution segments), inventory positioning key with dealership inventory down year-over-year and over two years, mix and aging profile well-balanced.
Guidance
- Year-to-date results consistent with first half fiscal 2026 forecast, expectations unchanged from February update following Ocean Biochem sale. - Anchor outlook on industry flat to down low single digits year-over-year. - Expect dealerships' same-store sales flat year-over-year, total revenue in range of $1.78 billion to $1.88 billion. - Expect adjusted EBITDA in range of $60 to $80 million, adjusted earnings per diluted share in range of $0.20 to $0.70. - Focus on driving margin expansion, maintaining cost control, and reducing leverage through core selling season.
Segment performance
Revenue for the quarter was $442 million, down 9% year-over-year, with same-store sales down 8%. New boat revenue decreased 12% due to Palm Beach International Boat Show timing shift and lower unit volumes, partially offset by higher average unit price. Pre-owned boat revenue increased 5% due to solid used boat activity. Service parts and other revenue declined 11% primarily due to prior year Ocean Biochem contribution; excluding that, underlying parts and service businesses increased. Finance and insurance income decreased in absolute dollars but increased as a percentage of total boat sales. Second quarter gross profit was $106 million, with gross profit margin expanding to 23.9%, an improvement of 110 basis points. Inventory was $551 million, down from $602 million in prior year, reflecting disciplined inventory management and Ocean Biochem sale.
Risks & headwinds
- Certain statements are forward-looking under securities law, involving risks and uncertainties. - Factors beyond company's control could cause actual results to differ materially from forward-looking statements. - Factors discussed in earnings release, investor relations section, and SEC filings. Company disclaims obligation to update forward-looking statements except as required by law.
Analyst Q&A
Q: Can we get a breakdown between units and price and get an impact from the exit brands?
A: Majority led by price, units down mid upper single digits, half of number driven by Palm Beach show shift, quarter from exiting brands.
Q: Is the $19 million in sales pushed from QQ to get to that show timing showing up in June quarter?
A: Majority of it will fall into next quarter, most to pick up in April, most filter in through quarter but some might lag into next.
Q: How are trends in April and excluding the boat show?
A: Continuing on, April was good month, still seeing higher gross margin, volume excluding boat show swap trending in nice direction but nervous about macro noise.
Q: Impact of higher fuel prices on boat sales?
A: Sure to impact eventually, but current customers not impacted much, like possible tailwind when noise settles.
Q: Color on additional cost actions to help SG&A line and if SG&A will continue to track lower?
A: Made cuts in personnel, administrative, reorganizations, about $6 million annualized, half captured in back half of year, some from dealerships and distribution.
Q: Stance on orders going forward and capturing uptick in demand?
A: At start of selling season, don't have to make decisions for another 90 days, inventory already low, if trend maintains, forced to order more boats for next year as inventory might deplete, but too early to call due to noise.