OneWater Marine Inc. reported a decrease in revenue and profitability for the third quarter of fiscal 2026, as outlined in its latest 10-Q filing. The company generated total revenues of $530.7 million for the three months ended June 30, 2026, down 4% from $552.9 million in the same period last year. The decline was primarily driven by a decrease in unit sales across new and pre-owned boats, as well as a significant drop in service, parts, and other sales, which fell by 12.8% to $72.4 million. Despite the revenue decline, net income increased slightly to $11.7 million, compared to $10.7 million in the prior year, attributed to reduced selling, general, and administrative expenses.
For the nine months ended June 30, 2026, OneWater Marine's total revenues also decreased by 4.2% to $1.35 billion, down from $1.41 billion in the same period of 2025. New boat sales were particularly affected, dropping by 6.6% to $825.3 million, while pre-owned boat sales increased by 4.9% to $285.8 million. The company reported a net loss of $8.9 million for the nine-month period, a significant increase from a loss of $3.3 million in the previous year, largely due to higher restructuring and impairment charges.
Operationally, OneWater Marine continues to expand its footprint, operating 91 retail locations across 18 states as of June 30, 2026. The company has focused on enhancing its service offerings and has made strategic acquisitions, including T-H Marine Supplies, to bolster its parts and accessories business. However, the recent sale of Ocean Bio-Chem, which contributed to a decrease in service and parts revenue, reflects a shift in strategy as the company refines its focus on core operations.
The filing also highlighted significant changes in the company's financial structure, including a reduction in long-term debt from $415.9 million to $351.6 million, and a decrease in inventory levels, which fell to $485.5 million from $539.8 million. OneWater Marine's management expressed optimism about future performance, citing ongoing efforts to improve operational efficiency and the potential for market share growth through strategic acquisitions. The company remains committed to navigating economic challenges, including rising interest rates and inflation, which could impact consumer spending in the boating industry.
About OneWater Marine Inc.
OneWater Marine Inc. is a leading U.S. marine retailer specializing in the sale of new and pre-owned recreational boats, parts, accessories, and related services. Operating through a network of dealerships and distribution centers, it offers a diverse product portfolio from multiple brands, along with financing, insurance, repair, and maintenance. Its core value lies in scale, customer service, and strategic acquisitions within a fragmented industry.
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View the complete official filing on the SEC website.
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