OneWater Earnings: What To Look For From ONEW
Boat and marine products retailer OneWater Marine (NASDAQ:ONEW) will be announcing earnings results tomorrow before the bell. Here's what to look for.
Last quarter OneWater reported revenues of $451 million, up 13.4% year on year, beating analyst revenue expectations by 8%. It was a mixed quarter for the company, with a miss of analysts' earnings estimates but revenue exceeding expectations.
Is OneWater buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting OneWater's revenue to decline 0.6% year on year to $364.5 million, a deceleration on the 9% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.22 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.
Looking at OneWater's peers in the automotive and marine retail segment, some of them have already reported Q1 earnings results, giving us a hint what we can expect. MarineMax delivered top-line growth of 3.8% year on year, missing analyst estimates by 0.2% and CarMax reported revenue decline of 5.5% year on year, missing analyst estimates by 2.5%. MarineMax traded down 15.2% on the results, CarMax was up 5.6%.
Read our full analysis of MarineMax's results here and CarMax's results here.
Stocks have faced challenges as investors prioritize near-term cash flows and while some of the automotive and marine retail stocks have fared somewhat better, they have not been spared, with share price declining 3.6% over the last month. OneWater is down 23.1% during the same time, and is heading into the earnings with analyst price target of $32.8, compared to share price of $25.42.
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The author has no position in any of the stocks mentioned.
