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OneWater Marine (ONEW) Reports Q2 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

For the quarter ended March 2024, OneWater Marine (ONEW) reported revenue of $488.32 million, down 6.9% over the same period last year. EPS came in at $0.67, compared to $1.56 in the year-ago quarter.

The reported revenue represents a surprise of -2.51% over the Zacks Consensus Estimate of $500.87 million. With the consensus EPS estimate being $0.72, the EPS surprise was -6.94%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how OneWater Marine performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues- New boat: $327.31 million versus $348.10 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -7.9% change.

  • Revenues- Service, parts & other: $67.64 million versus the two-analyst average estimate of $72.45 million. The reported number represents a year-over-year change of -13.7%.

  • Revenues- Finance & insurance income: $14.73 million versus the two-analyst average estimate of $13.50 million. The reported number represents a year-over-year change of -3.9%.

  • Revenues- Pre-owned boat: $78.65 million versus $72.95 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.3% change.

  • Gross Profit- New boat: $60.08 million versus $65.45 million estimated by two analysts on average.

  • Gross Profit- Service, parts & other: $29.69 million versus $31.80 million estimated by two analysts on average.

  • Gross Profit- Pre-owned boat: $15.87 million compared to the $16.40 million average estimate based on two analysts.

View all Key Company Metrics for OneWater Marine here>>>

Shares of OneWater Marine have returned -26.1% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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Zacks Investment Research