BUZZ-OneWater Marine shares sink after surprise loss, eyes slow start to 2025

Reuters
2024-11-15
BUZZ-OneWater Marine shares sink after surprise loss, eyes slow start to 2025

** Shares in boat retailer OneWater Marine Inc ONEW.O down 7.8% Thurs after hitting lowest level since August, reported fiscal Q4 loss, revenue miss citing Hurricane Helene disruption, and warns of slow start to 2025

** ONEW reported Q4 adj loss/shr of $0.36 vs mean expectation for EPS of $0.17 on rev of $377.86 mln vs consensus Street view of $421.09 mln, according to LSEG

** In preparation for Hurricane Helene ONEW noted that it "temporarily closed several stores, and insurance companies halted writing new policies, disrupting sales during the last 10 days of the month and significantly impacting" Q4 results

** Co says sees slower start to fiscal 2025 given ongoing impacts from Hurricanes Helene and Milton but "cautiously optimistic" for full year with customers active, healthy inventory positioning

** Co forecast fiscal 2025 rev in $1.7 billion to $1.85 billion range vs 2024 rev of $1.77 bln, dealership same-store sales to up low single digits. Adjusted diluted EPS in the range of $1.00 to $2.00

** Shares last traded at $21.88 vs median PT of $29.50, as per LSEG which shows eight analyst ratings: three 'strong buy,' two 'buy' and three 'hold' recommendations

** ONEW shares down 29.9% YTD vs 22.4% gain for Nasdaq Industrial index .IXID

(Reporting By Sinéad Carew)

((sinead.carew@thomsonreuters.com; +13322191897;))

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