Wrapping up Q4 earnings, we look at the numbers and key takeaways for the automotive and marine retail stocks, including OneWater (NASDAQ: ONEW) and its peers.
At their essence, cars and boats get you from point A to point B, but the former is usually a necessity in everyday life while the latter is a luxury or leisure product. The retailers that sell these vehicles therefore cater to different needs and populations. There are also retailers that may not sell cars and boats themselves but the parts and accessories needed to keep these complex machines in tip top shape.
The 11 automotive and marine retail stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 3.4% while next quarter’s revenue guidance was in line.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 7.3% since the latest earnings results.
OneWater (NASDAQ: ONEW)
A public company since early 2020, OneWater Marine (NASDAQ: ONEW) sells boats, yachts, and other marine products.
OneWater reported revenues of $375.8 million, up 3.2% year on year. This print exceeded analysts’ expectations by 11.7%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
“First quarter results exceeded expectations driven by higher unit sales in both new and preowned categories. Our strategic inventory management and operational execution drove outperformance against the industry, and our team did a great job working down inventory. Although these efforts pressured margins in the quarter, higher finance and insurance penetration helped offset the impact, reinforcing the durability of our business model,” commented Austin Singleton, Chief Executive Officer at OneWater.
OneWater delivered the weakest full-year guidance update of the whole group. The stock is up 10.2% since reporting and currently trades at $16.89.
Is now the time to buy OneWater? Access our full analysis of the earnings results here, it’s free.
Best Q4: America's Car-Mart (NASDAQ: CRMT)
With a strong presence in the Southern and Central US, America’s Car-Mart (NASDAQ: CRMT) sells used cars to budget-conscious consumers.
America's Car-Mart reported revenues of $325.7 million, up 8.7% year on year, outperforming analysts’ expectations by 15.2%. The business had an incredible quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ gross margin estimates.
America's Car-Mart delivered the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 21.3% since reporting. It currently trades at $46.59.
Is now the time to buy America's Car-Mart? Access our full analysis of the earnings results here, it’s free.
Weakest Q4: Monro (NASDAQ: MNRO)
Started as a single location in Rochester, New York, Monro (NASDAQ: MNRO) provides common auto services such as brake repairs, tire replacements, and oil changes.
Monro reported revenues of $305.8 million, down 3.7% year on year, falling short of analysts’ expectations by 1.5%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA and EPS estimates.
As expected, the stock is down 25.9% since the results and currently trades at $16.29.
Read our full analysis of Monro’s results here.
CarMax (NYSE: KMX)
Known for its transparent, customer-centric approach and wide selection of vehicles, Carmax (NYSE: KMX) is the largest automotive retailer in the United States.
CarMax reported revenues of $6.22 billion, up 1.2% year on year. This print surpassed analysts’ expectations by 3%. It was a stunning quarter as it also produced an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
The stock is down 9.6% since reporting and currently trades at $73.59.
Read our full, actionable report on CarMax here, it’s free.
MarineMax (NYSE: HZO)
Appropriately headquartered in Clearwater, Florida, MarineMax (NYSE: HZO) sells boats, yachts, and other marine products.
MarineMax reported revenues of $468.5 million, down 11.2% year on year. This number lagged analysts' expectations by 3.7%. In spite of that, it was a strong quarter as it put up an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ gross margin estimates.
MarineMax had the weakest performance against analyst estimates and slowest revenue growth among its peers. The stock is down 15.5% since reporting and currently trades at $23.59.
Read our full, actionable report on MarineMax here, it’s free.
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