Boat and marine products retailer OneWater Marine (NASDAQ: ONEW) will be announcing earnings results this Thursday morning. Here’s what you need to know.
OneWater missed analysts’ revenue expectations last quarter, reporting revenues of $442.3 million, down 8.5% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.
Is OneWater a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting OneWater’s revenue to be flat year on year, in line with the 1.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. OneWater has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at OneWater’s peers in the automotive and marine retail segment, some have already reported their Q2 results, giving us a hint as to what we can expect. MarineMax’s revenues decreased 7% year on year, missing analysts’ expectations by 10.8%, and CarMax reported revenues up 6.2%, topping estimates by 8.2%. MarineMax traded up 10.4% following the results while CarMax’s stock price was unchanged.
Read our full analysis of MarineMax’s results here and CarMax’s results here.
Investors in the automotive and marine retail segment have had steady hands going into earnings, with share prices up 1.5% on average over the last month. OneWater is up 14.5% during the same time and is heading into earnings with an average analyst price target of $13 (compared to the current share price of $13.12).
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