OneWater Marine: Riding The K-Shaped Yacht Economy
OneWater Marine Inc. is navigating a challenging market as it transitions from aggressive acquisitions to a focus on deleveraging and premiumization. Despite a 12% decline in Q1 revenue from new boat sales, the company achieved a two-year high in gross margins due to increased sales of higher-priced yachts. The recent sale of Ocean Bio-Chem for $50 million further supports its improved financial position.
- ▪OneWater Marine's Q1 revenue from new boats fell by 12%.
- ▪The company's gross margin reached 23.8%, the highest in two years, due to improved used boat margins and higher-priced yacht sales.
- ▪OneWater Marine is focusing on deleveraging and premiumization after a period of serial acquisitions.
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