OneWater Marine Sees FY24 Adjusted Earnings Per Diluted Share In The Range Of $1.50 To $2.00 Vs. $3.29 Estimate (Prior View: $3.25-$3.75)
Portfolio Pulse from Benzinga Newsdesk
OneWater Marine has updated its fiscal year 2024 outlook, significantly lowering its adjusted earnings per diluted share estimate to a range of $1.50 to $2.00, down from the previous estimate of $3.25 to $3.75. The company also expects dealership same-store sales to decline by mid-single digits and adjusted EBITDA to be between $90 million and $100 million.
July 30, 2024 | 11:18 am
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OneWater Marine has significantly lowered its FY24 adjusted earnings per diluted share estimate to $1.50-$2.00 from the previous $3.25-$3.75. The company also expects a decline in dealership same-store sales and adjusted EBITDA to be between $90 million and $100 million.
The significant reduction in the earnings estimate and the expected decline in same-store sales are likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100