1311 ET - OneWater Marine CEO Austin Singleton says on a call with analysts that boat sales during its F1Q, which ended Dec. 31, were very strong. The company relied on promotions to gain market share and reduce inventories, which fell 10% from last year. Margins also declined, though overall revenue grew 3% and same-store sales rose 4%. Singleton says the better-than-expected quarter was a pleasant surprise, but he notes the boating industry isn't out of the woods just yet. "The industry continues to face uncertainty after a challenging 2024, and we have not seen any significant market changes that would alter our outlook for the year," he says. Shares jump 16%. (connor.hart@wsj.com)
(END) Dow Jones Newswires
January 30, 2025 13:11 ET (18:11 GMT)
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