Boat and marine products retailer OneWater Marine (NASDAQ:ONEW) will be announcing earnings results this Thursday before market open. Here’s what to look for.
OneWater met analysts’ revenue expectations last quarter, reporting revenues of $380.6 million, up 1.3% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Is OneWater a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting OneWater’s revenue to be flat year on year, in line with its flat revenue from the same quarter last year.
The majority of analysts covering the company have 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 multiple times over the last two years.
Looking at OneWater’s peers in the automotive and marine retail segment, some have already reported their Q1 results, giving us a hint as to what we can expect. MarineMax’s revenues decreased 16.5% year on year, missing analysts’ expectations by 14.7%, and CarMax reported flat revenue, topping estimates by 3.9%. MarineMax traded up 1.6% following the results while CarMax was down 17.5%.
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 7.4% on average over the last month. OneWater is up 15% during the same time and is heading into earnings with an average analyst price target of $15.75 (compared to the current share price of $10.29).
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