The following is a summary of the OneWater Marine Inc. (ONEW) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Fiscal Q4 revenue decreased by 16% to $378 million from $451 million in the previous year, primarily due to the impacts of Hurricane Helene.

• Gross profit for the fiscal year decreased by 19% to $435 million, influenced by a return to pre-COVID margins on boat sales and lower margins on brands being exited.

• Operating income for the fiscal year grew to $65 million, up from $18 million, largely due to cost reduction actions.

Business Progress:

• Implemented cost-saving measures including rationalizing brands and consolidating parts and service facilities to improve efficiency.

• Plans to reduce inventory by an additional 10% next year as part of product strategy adjustments.

• Actively engaged in M&A discussions, focusing on opportunities that require minimal capital outlay and align with financial and strategic goals.

Opportunities:

• Recent interest rate cuts have reduced overall interest expenses, enhancing financial performance. Further anticipated rate cuts could provide additional benefits.

• Actively pursuing M&A targets that align with strategic objectives, indicating potential for growth and expansion.

Risks:

• The impact from Hurricanes Helene and Milton significantly disrupted Q4 sales, with ongoing effects expected in the first half of the next year.

• Geographical concentration in Florida, particularly on the Gulf Coast, excessively affected by hurricane disruptions, impacting sales and operational performance.

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