1710 ET - OneWater Marine's latest quarterly results reflected an sharp industry destock this year as retail sank from declines in consumer affordability, Benchmark analyst Michael Albanese says in a research note. The operator of marine retail dealerships could benefit from improving inventory turn, declining carrying costs and higher industry volumes. However, industry volumes haven't yet inflected, and we're only seeing improvements in carrying costs, Albanese says. The Fed rhetoric doesn't seem as friendly as it did a few weeks ago either, the analyst adds. Shares closed down 5.8% to $20. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
November 15, 2024 17:10 ET (22:10 GMT)
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