Company: ONEW
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001772921-25-000040
Chunk: 136

Company: OneWater Marine Inc.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 136
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 our interest rate swaps for the three months ended June 30, 2025. 

Interest Expense – Other 

Interest expense – other remained flat at $9.0 million for the three months ended June 30, 2025 and 2024 which is a result of the consistent average outstanding balance under the A&R Credit Facility for the three months ended June 30, 2025 and 2024.

Other (Income) Expense, Net 

Other (income) expense, net decreased by $1.1 million, or 83.5%, to $0.2 million of income for the three months ended June 30, 2025 compared to $1.4 million of income for the three months ended June 30, 2024. The decrease was primarily related to tornado related insurance proceeds during the three months ended June 30, 2024.

Income Tax Expense

Income tax expense decreased by $2.8 million, or 44.7%, to $3.5 million for the three months ended June 30, 2025 compared to $6.3 million for the three months ended June 30, 2024. The decrease was primarily attributable to the 38.3% decrease in income before income tax expense for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024. 

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Net Income 

Net income decreased by $6.0 million to $10.7 million for the three months ended June 30, 2025 compared to $16.7 million for the three months ended June 30, 2024. The decrease was primarily attributable to the $9.6 million decrease in income from operations and the $1.1 million decrease in other (income) expense, net, partially offset by the $2.0 million decrease in interest expense - floor plan and the $2.8 million decrease in income tax expense for the three months ended June 30, 2025 compared to the three months ended June 30, 2024. 

Results of Operations

Nine Months Ended June 30, 2025, Compared to Nine Months Ended June 30, 2024

For the Nine Months Ended June 30, 2025For the Nine Months Ended June 30, 2024$ Change % Change ($ in thousands)Amount % of Revenue Amount % of Revenue Revenues:New boat$883,631 62.6 %$901,552