OneWater Marine Reports $552.9 Million Revenue with 1.9% Year-Over-Year Growth

OneWater Marine Inc. reported a total revenue of $552.9 million for the three months ended June 30, 2025, marking a 1.9% increase from $542.4 million in the same period last year. The growth was primarily driven by a significant rise in pre-owned boat sales, which increased by 17.8% to $125.9 million, while new boat sales saw a slight decline of 2.1% to $326.1 million. For the nine months ended June 30, 2025, total revenues reached $1.41 billion, a modest increase of 1.2% compared to $1.39 billion in the prior year. However, the company experienced a net income decrease of 35.9% for the quarter, falling to $10.7 million from $16.7 million, and a net loss of $1.6 million for the nine-month period, compared to a profit of $3.5 million in the previous year.

The company's financial performance reflects several operational changes and strategic decisions. Selling, general, and administrative expenses rose by 5.8% to $92.1 million for the quarter, attributed to inflationary pressures and increased efforts to drive same-store sales. Additionally, OneWater Marine incurred restructuring charges of $0.7 million during the quarter, part of ongoing efforts to align costs with sales and margins. The gross profit margin also declined, from 24.4% to 23.3% year-over-year, primarily due to pricing pressures in the new boat segment.

In terms of strategic developments, OneWater Marine has continued its acquisition strategy, acquiring the remaining 20% of Quality Assets and Operations, LLC, and assets from American Yacht Group, which are expected to enhance its dealership footprint and product offerings. As of June 30, 2025, the company operated 97 retail locations across 19 states, maintaining a strong presence in key markets. The company’s inventory levels decreased to $517.1 million from $590.8 million, reflecting a strategic focus on managing inventory in response to market conditions.

Looking ahead, OneWater Marine anticipates continued growth through both organic sales and strategic acquisitions, despite potential challenges posed by economic conditions such as rising interest rates and inflation. The company remains committed to enhancing its operational efficiency and expanding its market share in the recreational marine industry. The management expressed confidence in their ability to navigate market fluctuations and capitalize on growth opportunities, supported by a diversified revenue stream that includes finance and insurance products, service, and parts sales.