OneWater Earnings: What To Look For From ONEW
Boat and marine products retailer OneWater Marine (NASDAQ:ONEW) will be reporting results tomorrow before the bell. Here's what to expect.
Last quarter OneWater reported revenues of $594.3 million, up 4.5% year on year, missing analyst expectations by 5.7%. It was a weak quarter for the company, with a miss of analysts' revenue estimates.
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 grow 6.2% year on year to $422.2 million, slowing down from the 41.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.43 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 four times over the last two years.
Looking at OneWater's peers in the automotive and marine retail segment, some of them have already reported Q4 earnings results, giving us a hint what we can expect. MarineMax delivered top-line growth of 10.8% year on year, beating analyst estimates by 11.6% and O'Reilly reported revenues up 10.7% year on year, exceeding estimates by 2.9%. MarineMax traded flat on the results, O'Reilly was up 3.8%.
Read our full analysis of MarineMax's results here and O'Reilly's results here.
Investors in the automotive and marine retail segment have had steady hands going into the earnings, with the stocks up on average 1.3% over the last month. OneWater is up 4.4% during the same time, and is heading into the earnings with analyst price target of $30.7, compared to share price of $25.8.
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The author has no position in any of the stocks mentioned.
