OneWater Marine Inc. (NASDAQ:ONEW) Q3 2022 Earnings Conference Call August 4, 2022 8:30 AM ET

Company Participants

Jack Ezzell - Chief Financial Officer

Austin Singleton - Chief Executive Officer

Anthony Aisquith - President and COO

Conference Call Participants

Drew Crum - Stifel

Joseph Altobello - Raymond James

Fred Wightman - Wolfe Research

Michael Swartz - Truist

Kevin Condon - Baird

Operator

Thank you for standing by. And welcome to OneWater Marine Fiscal Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator instructions]

I would now like to hand the call over to Chief Financial Officer, Jack Ezzell. Please go ahead.

Jack Ezzell

Good morning. And welcome to OneWater Marine’s fiscal third quarter 2022 earnings conference call. I am joined on the call today by Austin Singleton, Chief Executive Officer; and Anthony Aisquith, President and Chief Operating Officer.

Before we begin, I’d like to remind you that certain statements made by management in this morning’s conference call regarding OneWater Marine and its operations may be considered forward-looking statements under securities law and involve a number of risks and uncertainties.

As a result, the company cautions you that there are a number of factors, many of which are beyond the company’s control, which could cause actual results and events to differ materially from those described in the forward-looking statements.

Factors that might affect future results are discussed in the company’s earnings release, which can be found on the Investor Relations section on the company’s website and in its filings with the SEC.

The company disclaims any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.

With that, I’d like to turn the call over to Austin Singleton, who will begin with a few opening remarks. Austin?

Austin Singleton

Thanks, Jack, and thank you everyone for joining today’s call. Our exceptional third quarter results reflect broad-based strength across the business, the diversity of our business model and the power of our acquisition engine. We delivered another record quarter, with revenue increasing 41% to $569 million and adjusted EBITDA rising 45% to $95 million compared to the prior year.

Same-store sales increased 12%, reflecting our continued outperformance of the industry. Importantly, as the quarter progressed, we shifted to both unit growth, as well as price increases continue to drive sales growth. This momentum continued in July as we saw a double-digit increase in same-store sales and continued unit growth during the month.