OneWater Marine Inc. (ONEW) Provides Business Update Regarding Hurricane Helene

OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or the “Company”) today announced that its operations on the Gulf Coast will be directly impacted by Hurricane Helene. As a result of the hurricane’s evolving trajectory, which is expected to further intensify, earlier this week the Company’s 26 Gulf Coast locations initiated preparedness procedures, as the region braces for landfall. An additional 21 locations in Alabama, Georgia, and South Carolina are expected to see significant weather and flooding over the weekend as well. As a result, September sales will be lower than anticipated and the Company now expects its full year results to come in at the bottom or slightly below previously issued guidance.

“First and foremost, our thoughts and prayers are with everyone in the path of Helene. We are closely monitoring the hurricane and are taking all necessary precautionary measures to ensure the safety of our employees, customers, and communities. Earlier this week, we put our Hurricane Disaster Plan into action and implemented safety protocols to mitigate losses and protect assets. Additionally, insurance carriers have placed moratoriums on writing new policies in certain geographies preventing customers from binding insurance on boats they are looking to purchase. While these procedures and moratoriums are temporary, our fourth quarter sales will be negatively impacted. For affected locations outside the direct path of the storm, we expect to recover these sales in the first part of fiscal year 2025,” commented Austin Singleton, Chief Executive Officer at OneWater. “In the meantime, we remain committed to executing our long-term strategy and we are focused on factors within our control to minimize disruption, resuming operations when it is deemed safe.”

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