Boat and marine products retailer OneWater Marine (NASDAQ:ONEW) will be announcing earnings results this Thursday before the bell. Here’s what to look for.
OneWater missed analysts’ revenue expectations by 2.8% last quarter, reporting revenues of $483.5 million, flat year on year. It was a disappointing quarter for the company, with full-year EBITDA guidance missing analysts’ expectations significantly and a significant miss of analysts’ EBITDA estimates.
Is OneWater a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting OneWater’s revenue to decline 2% year on year to $531.7 million, improving from the 8.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.06 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. OneWater has missed Wall Street’s revenue estimates six times over the last two years.
Looking at OneWater’s peers in the automotive and marine retail segment, some have already reported their Q2 results, giving us a hint as to what we can expect. MarineMax’s revenues decreased 13.3% year on year, missing analysts’ expectations by 10.6%, and CarMax reported revenues up 6.1%, in line with consensus estimates. MarineMax traded down 15.8% following the results while CarMax was up 4.5%.
Read our full analysis of MarineMax’s results here and CarMax’s results here.
There has been positive sentiment among investors in the automotive and marine retail segment, with share prices up 6.7% on average over the last month. OneWater is up 12.2% during the same time and is heading into earnings with an average analyst price target of $16.75 (compared to the current share price of $15.03).
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