OneWater Marine (NASDAQ:ONEW) Announces Earnings Results

OneWater Marine (NASDAQ:ONEW) issued its quarterly earnings results on Thursday. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.43), FiscalAI reports. The business had revenue of $442.29 million for the quarter, compared to analysts’ expectations of $481.83 million. OneWater Marine had a positive return on equity of 4.32% and a negative net margin of 5.88%. OneWater Marine updated its FY 2026 guidance to 0.200-0.700 EPS.

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

• Revenue was $442 million, down 9% YoY with same-store sales down 8%, primarily due to the shifted timing of the Palm Beach Boat Show (management estimates about $16–17M of sales moved) and the sale/exiting of Ocean Bio-Chem and other non-core brands.
• Gross margin expanded to 23.9% (up 110 basis points) driven by favorable mix, brand portfolio optimization and disciplined pricing, while pre-owned boat revenue increased ~5%.
• Inventory positioning improved: dealership inventory is down ~3% YoY and 19% vs. two years ago with a healthier age/mix, and management says they are positioned to capture demand if market noise subsides, monitoring orders over the next ~90 days.
• Balance sheet progress: management repaid about $57M of debt in the quarter, ending with long-term debt of $354M, cash of $68M (total liquidity ~$73M), and net debt/EBITDA improved to 4.1x with a target to get below 4x by year-end.
• Profitability and outlook: the quarter produced a net loss of $13M (including a $6M non-cash trade name impairment) and adjusted EBITDA of $16M, though management reaffirmed FY guidance of $1.78–1.88B revenue and $60–80M adjusted EBITDA.

OneWater Marine Price Performance

Shares of OneWater Marine stock traded down $0.72 during mid-day trading on Thursday, reaching $9.39. 185,021 shares of the stock traded hands, compared to its average volume of 112,949. The business has a 50-day moving average of $10.09 and a 200 day moving average of $12.01. OneWater Marine has a fifty-two week low of $8.12 and a fifty-two week high of $17.92. The stock has a market capitalization of $155.97 million, a PE ratio of -1.39 and a beta of 1.69. The company has a quick ratio of 0.26, a current ratio of 1.13 and a debt-to-equity ratio of 1.18.

Insider Activity at OneWater Marine

In other news, Chairman Philip Austin Jr. Singleton bought 18,008 shares of OneWater Marine stock in a transaction on Thursday, February 12th. The stock was acquired at an average price of $12.52 per share, with a total value of $225,460.16. Following the completion of the acquisition, the chairman directly owned 779,776 shares of the company’s stock, valued at $9,762,795.52. The trade was a 2.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 19.50% of the stock is owned by insiders.

Institutional Trading of OneWater Marine

Several large investors have recently added to or reduced their stakes in ONEW. BNP Paribas Financial Markets grew its holdings in OneWater Marine by 94.4% in the 3rd 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 in the last quarter. Los Angeles Capital Management LLC purchased a new stake in OneWater Marine in the 4th quarter valued at $82,000. JPMorgan Chase & Co. grew its holdings in OneWater Marine by 50.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,129 shares of the company’s stock valued at $129,000 after buying an additional 2,710 shares in the last quarter. Man Group plc purchased a new stake in OneWater Marine in the 4th quarter valued at $139,000. Finally, Wells Fargo & Company MN grew its holdings in OneWater Marine by 39.9% in the 4th quarter. Wells Fargo & Company MN now owns 12,973 shares of the company’s stock valued at $140,000 after buying an additional 3,701 shares in the last quarter. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting OneWater Marine

Here are the key news stories impacting OneWater Marine this week:

• Positive Sentiment: Management is targeting leverage below 4.0x by year‑end, signaling a focus on strengthening the balance sheet and reducing financial risk. This deleveraging plan could be viewed positively by credit-sensitive investors and long-term holders. Article Title
• Neutral Sentiment: Company issued FY2026 guidance of $0.20–$0.70 adjusted EPS (wide range) and revenue guidance of ~$1.8–$1.9 billion; revenue guidance is roughly in line with consensus but the EPS range introduces meaningful uncertainty around near‑term profitability. Article Title
• Neutral Sentiment: Management commentary in the Q2 call/earnings transcript notes operational challenges but some encouraging signs; investors should watch for follow‑through on inventory, margins and working capital actions discussed on the call. Article Title Call Transcript
• Negative Sentiment: Q2 results missed analysts’ estimates: loss of $0.34 EPS vs. consensus +$0.09 and revenue $442.3M vs. est. $481.8M — the shortfalls are the primary driver of the share decline. Article Title
• Negative Sentiment: Profitability metrics weakened year‑over‑year (negative net margin ~‑5.9%) and EPS swung from positive a year ago to a loss this quarter, raising near‑term earnings recovery concerns. Article Title
• Negative Sentiment: Market reaction included heavier trading and a share price decline following the miss and the wide EPS range — watch next updates on unit sales, gross margins and progress on leverage reduction for potential stabilization. Article Title

Analyst Upgrades and Downgrades

ONEW has been the topic of a number of recent analyst reports. Zacks Research upgraded OneWater Marine from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of OneWater Marine in a research report on Tuesday, April 21st. Finally, Truist Financial reduced their target price on OneWater Marine from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.00.

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.