The following is a summary of the OneWater Marine Inc. (ONEW) Q2 2024 Earnings Call Transcript:

Financial Performance:

• OneWater Marine reported a decrease in Q2 revenue, which was $488 million, down 7% from the previous year.

• New boat sales decreased by 8%, while pre-owned boat sales showed a 4% rise.

• There was a decrease in both the service parts sales and finance and insurance revenue.

• Operating income was significantly down from the previous year, primarily due to a restructuring and impairment charge.

• Net loss for Q2 was $5 million or $0.27 per diluted share whereas adjusted earnings per diluted share was reported at $0.67, a decrease from the former $1.81 in 2023.

Business Progress:

• Amid a return towards normalized demand, the company reported a decrease in same-store sales by 5.1% in comparison to last year.

• Product demand remained high, leading to healthy sales dynamics well into Q2.

• The acquisition of Garden State Yacht Sales was successfully closed, amplifying OneWater's presence in the Mid-Atlantic U.S.

• Future financial forecast indicates a return to more normalized pricing and strong finance and insurance penetration.

• Despite economic obstacles, the company maintains a cautiously optimistic outlook and continues to monitor economic headwinds.

More details: OneWater Marine IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.