OneWater's Mixed Q3: Strong Sales, Profit Challenges

OneWaters Q3 Results: Mixed Performance, Positive OutlookOneWater, a boat retailer, reported a significant increase in revenue, surpassing Wall Streets expectations with $460.1 million. However, profitability metrics fell short, leading to a negative market reaction. The company attributed the sales growth to a rebound in demand for both new and used boats, particularly in areas affected by bad weather. Used boat sales were strong due to better trade-in conditions and inventory management. The CEO, Anthony Aisquith, emphasized positive same-store sales growth and market share gains. Analysts are monitoring used boat sales, new boat profit margins, and the companys ability to overcome the impact of discontinued brands. The stock price dropped from $15.54 to $11.17 after the earnings report, leaving investors to decide on buying or selling based on future prospects and industry changes.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.