Boat and marine products retailer OneWater Marine (NASDAQ:ONEW) will be reporting results tomorrow before market open. Here’s what to look for.
OneWater missed analysts’ revenue expectations by 9.5% last quarter, reporting revenues of $377.9 million, down 16.2% year on year. It was a disappointing quarter for the company, with full-year revenue guidance missing analysts’ expectations.
Is OneWater a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting OneWater’s revenue to decline 7.6% year on year to $336.4 million, a deceleration from its flat revenue in the same quarter last year. Adjusted loss is expected to come in at -$0.84 per share.
Analysts covering the company have generally 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 six times over the last two years.
Looking at OneWater’s peers in the automotive and marine retail segment, some have already reported their Q4 results, giving us a hint as to what we can expect. MarineMax’s revenues decreased 11.2% year on year, missing analysts’ expectations by 3.7%, and CarMax reported revenues up 1.2%, topping estimates by 3%. MarineMax traded up 10% following the results while CarMax was also up 3.6%.
Read our full analysis of MarineMax’s results here and CarMax’s results here.
Investors in the automotive and marine retail segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. OneWater is down 7.3% during the same time and is heading into earnings with an average analyst price target of $24.60 (compared to the current share price of $16.11).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.