OneWater Marine revenue decreased nearly 9% to $442 million in the company’s second fiscal quarter ending March 31 2026.
Bosses say the organisation is well positioned for a market recovery, with greater focus and an improved ability to accelerate growth and drive higher profitability.
Same-store sales decreased 8% and new boat revenue decreased 12%, however the gross profit margin increased to nearly 24%.
The decrease is being put down to the timing of this year’s Palm Beach International Boat Show, as well as the impact of the sale of Ocean Bio-Chem Holdings (OBCI).
Pre-owned boat revenue increase
Pre-owned boat revenue increased 5.2%, driven by an increase in units sold and the average price per unit.
Finance and insurance income also increased slightly as a percentage of total boat sales, but service, parts and other sales were down 10.7% compared to the prior year quarter.
Gross profit was $105.5 million for the period, down $4.9 million from $110.4 million compared to the fiscal second quarter 2025.
Net loss for the period was $(12.9) million, compared to a net loss of $(0.4) million in fiscal second quarter 2025.
Focused portfolio
The increase in net loss was primarily driven by lower sales, a $5.8 million non-cash charge related to a trade name impairment following an internal realignment of retail locations under a different brand and the tax impacts associated with the OBCI sale.
“Our second quarter was highlighted by continued improvement in boat margins and a significant reduction in leverage,” explained Austin Singleton, executive chairman of OneWater.
“Margin expansion reflects the benefits of a more focused portfolio and the deliberate actions taken to reduce complexity, optimise inventory and manage costs.
“In addition, proceeds from the sale of Ocean Bio-Chem and operating cash flows enabled a meaningful reduction in debt, further strengthening our balance sheet and maintaining progress toward our leverage target.”
