OneWater Marine has announced its financial results for the fiscal fourth quarter and full year ended 30 September 2025. The figures report steady revenue growth and improved inventory levels.
The US marine retailer recorded revenue of $1.9bn for fiscal year 2025, a 6 per cent year-on-year increase, primarily driven by a rise in new and pre-owned boat sales. Dealership same-store sales rose 6 per cent, outpacing broader industry trends.
Despite the growth, in the fourth quarter, OneWater posted a net loss of $116m, attributed mainly to a $146m non-cash impairment charge on goodwill and intangible assets.
Excluding this one-time charge, adjusted diluted earnings per share stood at $0.44, and adjusted EBITDA reached $70m. Gross profit margin for the year came in at 22.8 per cent, reflecting ongoing pricing pressure and a normalised post-pandemic market environment.
In the fourth quarter, OneWater reported a 21.8 per cent revenue increase to $460.1m, boosted by 26.7 per cent growth in new boat sales and 24.6 per cent growth in pre-owned sales. Adjusted EBITDA more than doubled year over year to $17.5m.
Executive chairman Austin Singleton comments: “We delivered a solid finish to what was a challenging scale 2025 for our industry, outperforming the market and continuing to advance our strategic priorities. Amid heightened competition and elevated promotional activity, our teams executed with discipline, managing inventory to the cleanest levels we have seen in years.
“Supported by our flexible operating model, we effectively aligned costs with market demand and successfully navigated this dynamic environment.”
Looking ahead, the firm expects fiscal 2026 revenue to be between $1.83bn and $1.93bn, with adjusted EBITDA projected at $65m to $85m.
OneWater anticipated flat unit sales across the industry but anticipates room for profitability gains as production stabilises and its focus shifts to core brands.
Singleton adds: “With our strategic brand exits complete and industry inventories approaching healthier levels, we see opportunity for margin expansion in scale 2026 as we sharpen our focus on our portfolio of strong core brands. As the industry stabilises and production trends normalise, we believe OneWater is well positioned to capitalise on growth opportunities, enhance profitability and continue outperforming the broader marine industry.”
As of 30 September 2025, OneWater reported cash and cash equivalents of $52.2m and total liquidity of approximately $67m. Inventory levels fell to $540m, reflecting tighter management, while long-term debt stood at $412m.
The post OneWater reports solid 2025 Q4 and signals stable outlook for 2026 appeared first on Marine Industry News.
Leave a Reply