Filing Flows › OneWater Marine (ONEW) › Q3 FY26 › vs Q2 FY26
OneWater Marine (ONEW) Q3 FY26 vs Q2 FY26 (quarter over quarter)
OneWater Marine's revenue rose $88.4M (+20%) from $442M in Q2 FY26 to $531M in Q3 FY26. The biggest changes: New boat +$47.9M (+18%); Pre-owned boat +$26.7M (+28%); Service, parts & other +$10.5M (+17%). Operating margin 6.7% against 1.7% (+5.0 pts).
OneWater Marine, Q3 FY26: revenue $531M (-4% year over year), operating margin 6.7%, net earnings $11.7M, operating cash flow $80.4M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Operating margin | 6.7% | 1.7% | +5.0 pts |
| Net margin | 2.2% | -2.9% | +5.1 pts |
| Free cash flow margin | 14.6% | 11.3% | +3.3 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| New boat | $320M | $272M | $47.9M | +18% |
| Pre-owned boat | $121M | $94.4M | $26.7M | +28% |
| Service, parts & other | $72.4M | $61.9M | $10.5M | +17% |
| Finance & insurance income | $17.3M | $14.0M | $3.3M | +23% |
| Revenue | $531M | $442M | $88.4M | +20% |
| Operating profit | $35.6M | $7.6M | $28.0M | +367% |
| Costs & expenses | $495M | $435M | $60.4M | +14% |
| Pre-tax earnings | $22.0M | −$7.4M | $29.3M | — |
| Other expense, net | $13.7M | $15.0M | −$1.3M | -9% |
| Cost of revenue | $403M | $337M | $66.5M | +20% |
| SG&A | $87.2M | $85.7M | $1.6M | +2% |
| Other operating costs | $4.6M | $12.2M | −$7.6M | -62% |
| Net earnings | $11.7M | −$12.9M | $24.6M | — |
| Income tax | $10.3M | $5.5M | $4.8M | +86% |
| Depreciation & amortization | $4.4M | $4.5M | −$101K | -2% |
| Share-based compensation | $4.0M | $2.8M | $1.2M | +43% |
| Working capital & other | $60.3M | $58.1M | $2.2M | +4% |
| Operating cash flow | $80.4M | $52.4M | $27.9M | +53% |
| Free cash flow (OCF − capex) | $77.6M | $50.2M | $27.4M | +55% |
| Capital expenditures | $2.8M | $2.3M | $504K | +22% |
Questions
How much did OneWater Marine's revenue grow quarter over quarter in Q3 FY26?
OneWater Marine's revenue rose $88.4M (+20%) from $442M in Q2 FY26 to $531M in Q3 FY26.
What drove OneWater Marine's revenue change in Q3 FY26?
New boat +$47.9M (+18%); Pre-owned boat +$26.7M (+28%); Service, parts & other +$10.5M (+17%).