OneWater pre-owned boat revenue increased 14.1% in the company’s fiscal second quarter 2025, driven by the increase in units sold and average price per unit.
New boat revenue decreased 5.4%, driven by a decrease in units sold. For the quarter ending March 31 2025, OneWater Marine’s revenue decreased slightly – by 1%.
Same-store sales decreased by 2% for the quarter ending March 31 2025. This was driven primarily by lower sales in the West Coast of Florida which is still recovering from Hurricanes Helene and Milton, explained Austin Singleton, CEO at OneWater.
Net loss for fiscal second quarter 2025 was $(0.4) million, compared to a net loss of $(4.5) million in fiscal second quarter 2024.
Finance and insurance income increased as a percentage of total boat sales, and service, parts and other sales were up 2.4% compared to the prior year quarter.
Dealership service, parts, and other sales increased in the quarter while Distribution segment sales were lower due to reduced production by boat manufacturers.
Gross profit
Gross profit was $110.4 million for fiscal second quarter 2025, down $10 million from $120.4 million for fiscal second quarter 2024 and the gross profit margin was 22.8%.
Fiscal second quarter 2025 adjusted EBITDA decreased to $17.9 million compared to $28.3 million for fiscal second quarter 2024.
“We continue to benefit from our strategic approach to inventory management and strong operational execution, which led to a 12% inventory reduction year over year and 5% sequentially,” said Austin.
He added: “From where we stand today, we do not expect the announced tariffs to have a material impact on our current model year product and will work closely with our manufacturing partners as we prepare for the upcoming model year boats.
“However, we are taking a more cautious approach to the selling season given the impact of considerable macroeconomic uncertainty on consumer demand.”
For fiscal full year 2025, OneWater anticipates revenue to be in the range of $1.7 billion to $1.8 billion and dealership same-store sales to be flat to down low single digits.
