OneWater(US:ONEW)2026-01-29 12:09Revenue Performance - Revenue for fiscal first quarter 2026 was $380.6 million, an increase of 1.3% compared to $375.8 million in fiscal first quarter 2025[4] - New boat revenue decreased by 5.9% to $233.3 million, while pre-owned boat revenue increased by 24.0% to $70.4 million[4] - The company expects total revenue for fiscal full-year 2026 to be in the range of $1.83 billion to $1.93 billion[10] Profitability - Gross profit totaled $89.4 million, up $5.3 million from $84.1 million, with a gross profit margin of 23.5%, an increase of 110 basis points year-over-year[5] - Net loss for fiscal first quarter 2026 was $(7.7) million, compared to a net loss of $(13.6) million in the same period last year[7] - Adjusted EBITDA increased 88.9% to $3.6 million compared to $1.9 million for fiscal first quarter 2025[8] - Adjusted EBITDA for the trailing twelve months ended December 31, 2025, was $71.808 million, reflecting an increase from $1.907 million in the previous year[20] - Adjusted Net Income (Loss) attributable to OneWater Marine Inc. is calculated by excluding transaction costs and other unusual expenses, providing a clearer view of operational performance[28] Inventory and Debt Management - Total inventory as of December 31, 2025, decreased to $601.5 million from $636.7 million on December 31, 2024, reflecting disciplined inventory management[9] - As of December 31, 2025, total long-term debt was $399.4 million, with adjusted long-term net debt at 5.1 times trailing twelve-month Adjusted EBITDA[9] - Long-term debt, including the current portion, stood at $399.351 million, with adjusted long-term net debt calculated at $367.117 million after accounting for cash[20] - The pro forma adjusted net debt leverage ratio was reported at 5.1x, indicating the company's financial leverage position[20] Strategic Initiatives - The company plans to divest certain Distribution segment assets, with assets held for sale totaling $52.8 million at quarter-end[8] - OneWater Marine operates 95 retail locations and 8 distribution centers across 18 states, positioning itself as a leading premium marine retailer in the U.S.[21] - The company emphasizes diversified revenue streams, including sales of new and pre-owned boats, finance and insurance products, and maintenance services[21] Market Conditions and Risks - Same-store sales are used to assess organic growth in the Dealership segment, excluding new and acquired stores until they reach their thirteenth month of operations[31] - The company faces risks including changes in demand, supply chain challenges, and geopolitical factors that could impact financial performance[23] - Forward-looking statements indicate management's expectations regarding future revenue and growth, though these are subject to uncertainties and risks[22]