OneWater Marine revenue increased 1% to $380.6 million in its fiscal first quarter ended December 31 2025.
Gross profit margin was 23.5% which OneWater says reflects the impact of portfolio optimisation efforts, however there was a net loss of $(7.7) million compared to a net loss of $(13.6) million in fiscal first quarter 2025.
Gross profit totalled $89.4 million for fiscal first quarter 2026, up $5.3 million from $84.1 million for fiscal first quarter 2025.
Same-store sales were flat and new boat revenue decreased 5.9%, primarily reflecting lower unit volumes.
We delivered a solid first quarter supported by a strong inventory position and consistent execution across the business.
Austin Singleton
Pre-owned boat revenue increased 24%, driven by an increase in units sold and average price per unit.
“We delivered a solid first quarter supported by a strong inventory position and consistent execution across the business,” said Austin Singleton, executive chairman at OneWater.
“As the first quarter is seasonally our smallest, our focus remains on disciplined execution as industry conditions begin to improve.
“Supported by a healthy inventory mix and improved aging profile, we believe we are well positioned to execute on our priorities of higher profitability and improved balance sheet leverage.”
For fiscal full-year 2026, OneWater is anticipating the industry to be flat or down.
The company expects dealership same-store sales to be flat year over year and total revenue to be in the range of $1.83 billion to $1.93 billion.
Adjusted EBITDA is expected to be in the range of $65 million to $85 million.
