Factors Setting the Tone for OneWater Marine (ONEW) Q1 Earnings
OneWater Marine Inc. ONEW is scheduled to report first-quarter fiscal 2024 results on Feb 1. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 10.6%.
Q1 Estimates
The Zacks Consensus Estimate is pegged at a loss of 30 cents per share. It reported earnings of 61 cents in the prior-year quarter. The consensus mark for revenues is pegged at $370.3 million, suggesting a rise of 1% from a year ago.
Factors to Note
ONEW’s first-quarter fiscal 2024 top line is likely to have been driven by strong pre-owned boat sales. A rise in average unit price of both new and pre-owned boats, along with an effective acquisition strategy, is expected to have contributed to this success. Further, the company's focus on technological investments and inventory planning tools, combined with strong retail demand, is likely to have enhanced its prospects. However, high costs are likely to have hurt its bottom line.
The Zacks Consensus Estimate for new boat revenues is pegged at $232 million, indicating to be flat from the year-ago levels. The consensus estimate for pre-owned boat and service parts is pegged at $64 million, hinting at growth of 14.3% from the year-earlier levels. The consensus estimate for other revenues is pegged at $94 million, which implies a decline of 1.4% from the prior-year actuals. The Zacks Consensus Estimate for revenues from finance & insurance income is pegged at $10.2 million, indicating 14.2% growth from a year ago.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for OneWater Marine this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: OneWater Marine has an Earnings ESP +15.25%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: OneWater Marine has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
OneWater Marine Inc. Price and EPS Surprise
OneWater Marine Inc. price-eps-surprise | OneWater Marine Inc. Quote
Other Stocks Poised to Beat Earnings Estimates
Here are some other stocks you may want to consider, as our model shows that these, too, have the right combination of elements to post an earnings beat.
MGM Resorts International MGM has an Earnings ESP of +14.99% and a Zacks Rank #3.
Shares of MGM Resorts have increased 9.5% in the past year. MGM’s earnings beat estimates in each of the trailing four quarters, the average surprise being 292.7%.
Boyd Gaming Corporation BYD has an Earnings ESP of +1.10% and a Zacks Rank #3.
Shares of Boyd Gaming have gained 6.8% in the past year. BYD’s earnings beat estimates in three of the trailing four quarters and missed once, the average surprise being 6.9%.
Hasbro, Inc. HAS has an Earnings ESP of +5.05% and a Zacks Rank #3.
Shares of Hasbro have declined 13.5% in the past three months. HAS’ earnings beat estimates in two of the trailing four quarters and missed twice, the negative surprise being 22.4%, on average.
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Hasbro, Inc. (HAS) : Free Stock Analysis Report
MGM Resorts International (MGM) : Free Stock Analysis Report
Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
OneWater Marine Inc. (ONEW) : Free Stock Analysis Report
