OneWater (ONEW) Q1 2026 Earnings Call Transcript

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Thu, January 29, 2026 astatine 8:31 AM CST 22 min read

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Thursday, January 29, 2026 astatine 8:30 a.m. ET

• Chief Executive Officer — Austin Singleton

• President & Chief Operating Officer — Anthony Aisquith

• Chief Financial Officer — Jack Ezzell

Austin Singleton, who volition statesman with a fewer opening remarks. Austin?

Austin Singleton: Thank you, Jack. Good morning, everyone, and convey you for joining america contiguous to sermon our First Quarter 2026 results. We delivered a coagulated archetypal 4th successful enactment with expectations, demonstrating the resilience of our concern exemplary and continued advancement against our strategical priorities. Revenues accrued slightly, and same-store income were level adjacent with the interaction of our strategical inventory initiatives. Importantly, we are pleased with our inventory levels, and contempt a highly competitory environment, we judge we are operating from a presumption of strength. Our inventory premix and property illustration are healthy, and our OEM partners proceed to beryllium supportive portion maintaining disciplined accumulation schedules.

This has allowed america to sharpen our absorption connected disciplined execution arsenic we navigate the existent situation and presumption the concern to payment arsenic manufacture conditions improve. We successfully completed our strategical marque initiatives past year. While the archetypal 4th is typically the smallest from a seasonal standpoint, we are opening to spot the benefits of those marque rationalization efforts reflected successful our gross margins. First 4th margins were amended than expected, besides driven successful portion by a favorable exemplary mix. We expect the affirmative interaction of discontinued brands to beryllium realized successful antithetic levels passim the year, and we stay assured successful the semipermanent payment of these strategical actions.

As portion of our ongoing portfolio optimization efforts, we person decided to merchantability definite organisation conception assets that are nary longer halfway to our semipermanent strategy. This determination reflects our absorption connected simplifying the concern and allocating superior to areas with the strongest strategical fit. This enactment is not a reflection of underlying operational show but alternatively an opportunistic measurement to sharpen our absorption and fortify the equilibrium sheet. We expect proceeds from the transaction to heighten fiscal flexibility and enactment our superior allocation priorities going forward. With the strategical actions we person taken to optimize our portfolio, amended our outgo structure, and heighten our equilibrium sheet, OneWater is well-positioned to proceed gaining stock and expanding profitability arsenic conditions normalize.