OneWater Marine Inc. (NASDAQ:ONEW) Q3 2024 Earnings Conference Call July 30, 2024 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
Joe Altobello - Raymond James
Michael Swartz - Truist
Craig Kennison - Baird
Fred Wightman - Wolfe Research
Noah Zatzkin - KeyBanc Capital Markets
Griffin Bryan - D.A. Davidson

Operator

Good morning. And welcome to the OneWater Marine Fiscal Third Quarter 2024 Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions]

Please note this event is being recorded. I would now like to turn the conference over to Jack Ezzell, Chief Financial Officer. Please go ahead.

Jack Ezzell

Good morning. And welcome to OneWater Marine’s fiscal third quarter 2024 earnings conference call. I’m joined on the call today by Austin Singleton, Chief Executive Officer; and Anthony Aisquith, President and Chief Operating Officer.

Before we begin, I would 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 security 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 would 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 in 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.

Please also note that all comparisons of our third quarter 2024 results are made against the third quarter of 2023 unless otherwise noted.

And 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. When we spoke to you last, we noted same-store sales trended slightly positive in April, and May trended slightly down. However, towards the end of May and into June, the sales decline got progressively worse. Also in Texas, one of our key markets, we saw significant negative impact from severe weather throughout the quarter. In the end, third quarter results were below our expectations.