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ONEW Onewater Marine

Participants
Jack Ezzell Chief Financial Officer
Austin Singleton Chief Executive Officer
Anthony Aisquith President and Chief Operating Officer
Joe Altobello Raymond James
Mike Swartz SunTrust
Craig Kennison Baird
Call transcript
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Operator

Ladies and gentlemen, thank you for standing by, and welcome to the OneWater Marine, Inc., Fiscal Third Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session [Operator Instructions]. Please be advised that today's conference may be recorded. I would now like to hand the conference over to your speaker today, Mr. Officer. Financial Chief Ezzell, Jack Thank you. go Please ahead.

Jack Ezzell

and and Third Fiscal morning, call by Executive OneWater Operating and joined Marine's XXXX Earnings today Officer Chief Singleton, to Quarter Austin Aisquith, Conference Officer. the President Chief Good on welcome Anthony Call. am I

by number OneWater forward-looking begin, made a Marine and risks operations be would considered and under certain I morning's securities involve this we to remind its in Before that and uncertainties. conference statements law you of like statements management call regarding may

its a a the undertaking are Austin occur that result, that, the disclaims date from like materially company's as events would control, and of affect might company earnings beyond the there that the As results of company's company cautions section website discussed and after The can the Factors in law. by to release differ required company's remarks. over reflect except or to number I which on to those results opening that are you Singleton be described the statements which are actual to found many the forward-looking would in cause of a the update call the SEC Relations who statements begin in factors, of events statements. will with Austin? to turn and circumstances filings. or made, the obligation With few are any Investor forward-looking forward-looking

Austin Singleton

everyone, Jack, for today's and joining Thanks, thank call. you,

record OneWater industry. quarter and for possibly Our the third quarter was for a XXXX

the with country demand. quarter started with around incredibly and expanding unprecedented Our well quarter team executed we orders retail the considering ended the shelter-in-place

year-over-year, all we of increase reports of same-store sales across our quarter, substantial gains record market XX% a XX% segments the and outpacing revenues delivering and industry business. increase share saw significantly During

XX% and sales pre-owned partnerships respectively. the XX% supporting the by highly new boat to growth and of retail manufacturing technologies strong enabled innovative and pivot sales Our efficient process, team quickly, year-over-year,

only to achieve saw XX% and revenue basis we diverse margin we did custom is with digital pricing our help of a our us continue growth, dramatic Our attributed technologies all high-margin significant be given outperform during XX total, increase also and the gross going along insurance of mix. income of and growth record This strategy, to expand our finance the as CRM will platform, which can points, saw a not year-over-year. forward. In model to serve dynamic also the industry competitive advantage quarter effectiveness which

cycle be proven has flexible resilience. supporting in model Our business effective to

shelter-in-place it appointments adjusted quarter, the our conducting selling orders team During or with home appointments effectively water. work out at to customers taking on new one-on-one techniques sales the or was environment, the in current whether quickly under operate virtual and to adopted

We by encouraged distanced that they be boating the extremely friends can boat social first-time are safe, enjoyed We outdoor find activity be to buyers. believe and can in in surge a an family way. with exceptional

on a will many, for accessories new and to regular with parts new ongoing dealership As purchase basis. return maintenance annual customers to believe so we these and the

the portfolio of country. XX that of a be or ready may stands OneWater they Additionally, from for boating once with interested remain manufacturers live Throughout that our a boating customer markets type life in may a them over carried leading in years. different team to can't and of lifestyle this a style a uniquely to new diverse today. technology in boat they how boat, is cycle, they so some realize tend product a boat, without. brands purchases the they larger a Historically, purchase or and serve well-trained many boating are incredible of talented coming the in

playbook quarter, controls cuts and and we announced, a cost sales, start previously to the these navigate pandemic. of effect our Despite controls help the third in in tremendous XXXX initiating a many at focused recovery cost implementing remain of As today. were through on

Additionally, financial we have our continued to evaluate new to further cost-savings opportunities position. strengthen

efficient the this a disciplined we outbreak the We refinancing. were today better, because company recently that of to successful of COVID-XX prior our more of than approach. we end, completion long-term are debt running announced To

with with acquisitions temporary of pause so to that we markets strategic current full the maintain We thank book turbulent in million in that to in our with environment. also country. Synovus impact expand interest and can quarter acquisitions' strengthen our manufacturers' teams down the to could for by make a the as we footprint more M&A to understand use that These the elected conjunction last boating refinancing. complete credit the acted on the principal SunTrust runners orders and our our in After will very of is to refinancing acquisition acquisition EBITDA in geographic reduce who us on actions like would supply pay our a wake joint terms of I than favorable of mode. opportunities back to a us EBITDA, shelter-in-place help in $X pipeline plans some this of and of syndication best growth cash XXXX. key the ability excess helping a part our significant product remains are taking expense into amount both debt and

We sheet We near-term discuss long-term acquisitions, to expanded will Anthony business expand our forward. future. on we growth the have of margin in on the process improvements higher strategic With evaluate that meaningful ongoing be the are generate over and our revolver, will in of evolution through as able our completion dry of processes, turn we our operations. and the complete segments, remain and will cash With to implementation our us that, as significant acquisitions innovative it and strategy balance be confident disciplined are we focused value about we share built but position shareholders that said, which potential business for significant move acquisitions, market I a executions executing our powder prospects. our provides excited technologies, to to

Anthony Aisquith

Thanks, Austin.

on keep growing our customer on team strategies base sales Our deliver and adopt continues out the to to new water. time boats

hesitant mentioned with relationships seen and technology building summer. virtual As individuals and to customers engage more turn our proprietary effectively activities other and team have has existing and boating environment In being families travel this sales more in our this digital industry-leading world, customers. earlier, current canceled, to to with with new the we platform initiative, continue embraced people

our stores since shelter-in-place closed of the during stores were quarter, to reopened all While due many temporarily have restrictions.

today. And some continuing employees to remotely work are

priority. sell in in and place, continue as safer a environment. able to service to employee And been remains result technology new, of our a customers our put in Our safety they've in, our we this seen us increased In CRM high-demand and we've roughly handle leads environment we've efficiently we're to this investments enabled surge. have the custom inbound tremendous operating XXX%, made

dashboard continue for have across management us help boats our to have list will dealerships, tool the and industry. of operational in coming provided diverse to inbound tools outperform us made to sell inventory inventory visibility These locations of and it move sales trends our demand current and all our future across rising into and from inventory easy Our meet support manufacturers.

demand not challenging with environment safe Our the quarter. through manufacturing teams would customers our on the partners face who partners to to keeping this are I we thank and our products all to manufacturer close working ensured saw inventory did enjoy water. relationship while heightened like issue we during our for their of still manufacturer meet securing out incredible the

of we revenue. than more before, no XX% one have our As mentioned brand represents

XX% of more than However, cases, in our represent we many annual sales. brand's

shutdowns the the once beginning majority with that work in of are following of result, the We material resumed the our to a the dealerships were temporary each a we us boats We incoming receive of these the manufacturers. And at to manufacturers customer they were inventory us manner. to day were through as one And boats get timely production first ones the quarter. a the presold. need

our a this As lower in result, it season. normally the point boating than is be would inventory at

season. levels over several XXXX. the savings generate in as summer carrying business, plan we will the next costs remained floor months interest for However, reduction expansion sufficient margin driving in stocking fiscal inventory, and finished ultimately selling the This additional year

the to during times we be uncertainty. and income are continued on proven high-margin generate of of our Looking effective which businesses, development have laser-focused ahead,

repair to XXXX. shelter-in-place our due maintenance third service and we restrictions sales experienced and parts business our accessory and fiscal are in more quarter and an volume, the activity fiscal increase While increased in for during moderate growth preparing service

in As high-margin we the process to expand business, be locations two are of service only. opening that our will new part of efforts our

a in service to and We location Atlanta location Alabama operations the have service second our in restructuring added establish retail service. for area a

years and making are higher the the and our see months to in changes we to margin expect come. We now business drive additions

opportunities We business also of increasing finance to are are and further, even products remain customers. number to available and this the to committed there penetration grow our insurance including that expanding rates and several

As our and broader operations for teams great process, part to core looking stores both always of improve made we this new acquired at our ways and strides are stores quarter. newly sales our

resilient technology everything our need. team opportunities customers and providing our and model actively with continue and to flexible business Our enabled they pursue business have new

the share. uncertainty outperform same-store us expanding our over to call size, our growing that, the remains and our Jack about the discuss coming positioned to I'll technology and While lot of with to industry And more the and have financials turn a like, continue may detail. what look market team well to competitors, months in sales

Jack Ezzell

total We driven delivered by look Throughout XXXX. of in for XX%, and number increase XXXX for boats to third consumers record of in the the $XXX.X in quarter million tremendous as weaker from an the their friends saw quarter, rise with maintaining the spend pace grew boat the while revenue $XXX.X not pre-owned $XX.X family million with million results occurs a of entire and typically quarter social macroeconomic in increased in to consumer at the which third new and get prior million from reduced million Thanks, primarily Same-store million. way year, increase sales demand, demand a sales we outside XX.X% in units from XX% Anthony. did third sales to the sold. a XXXX and see and increased boat new and XX.X% We time sales in $XXX.X to the $XXX $XX.X distances. environment, fiscal safe pre-owned increasing

competitors our us prior other million XX.X% We impacted Revenue and environment. $XX.X what to from $XX.X grew service certain outperform increased has us execute in to increase year, able of third and compared on the to profit quarter the parts to the to fiscal was and pre-owned the the compared prior points Focusing been in new on prior XX.X% to from $XX.X XXXX. parts, our retail store and by being of unprecedented percentage prevented but unit in XX sales XX.X% as by revenue gain in to and million a $XX.X driven all growing helped finance has operating insurance closures insurance an in business higher which service to sales. sales sales in XX.X% increased million finance quarter year, the share X% market third and Gross year. profit compared and revenue. million to by aspects basis Gross increased

partially $XX.X and the and as enacted general sales SG&A million sales, by to of million, million in March year to income expenses prior compared warrant increase $XX.X XX.X% prior decline driven current note in response in the Adjusted and XX.X% year. $XX.X a contained a increased due prior that year, change and to to year. value sales by lower selling, boat The $XX.X administrative While rose million million. growth increased $XX.X XX.X% to sales of volume a to was sales totaled interest year. the million important income fair the the from the transaction was $XX.X $XX.X Operating in $XX.X a as year. in primarily income the the costs. higher $XX.X from quarter, taxes increased the year. COVID-XX SG&A declined expense income increase in up percentage offset in the end to million in million XX.X% for in reduction EBITDA to from of third prior Net prior compared actions this noncash of at XX.X% the in in the It's cost related to percentage The due to million to

change income fair XX.X% related net resulted to the value the in Excluding noncash prior year-over-year. from the year being up the income

Now turning balance to sheet. the

and $XXX.X credit. manufacturing sales cash beginning demand quarter. pre-owned we June decrease units of of to current of June $XXX.X shutdowns million at million at availability Total is the and for XXXX. XX, our revolving related XXXX, As to to primarily at under new XX, had of This seen the and $XX.X due $XX substantial COVID-XX million XX, June compared inventory XXXX, line million was

believe have us cost should diverse strong the carrying meet and to demand, positioned to for will current significantly inventory manufacturer to winter, continue Our which lower partnerships meaningful well savings we this our business. lead but building be

our the net facility of As point a At expand the XX a of interest consists our plus ratio. previously our more enhances based $XX support to successfully X%. is liquidity, The boating our we geographic year previously million XXX to annual announced strengthens new growth terms included that with with as a the strong light XX, with initial Goldman March long-term sliding us The offers accordion and This financial term term $XX to the that The X-year LIBOR-based revolver. has undrawn is rate and around with year and execution long-term XXXX. $XXX strategy more into with guidance was basis XXX loan withdrew balance and on an acquisitions will our exists our million our provides closing, expand in line. on uncertainty provides on we regions In strategic Sachs which facility debt. the our of loan basis pursue million million on and XXXX flexible facility replaces a we of continued additional points pandemic, feature COVID-XX The markets. flexibility $XX leverage scale refinanced million provided. floor is and a currently savings credit fiscal July footprint deliver $X on facility refinancing XX, revolver rate new million Specialty fiscal projected undrawn Lending, sheet the $XX covenants and credit credit facility initial former than

XXXX out, shaping be turns is record to up year. it As another

said, similar the a sales be that to see great we back-to-school year, the in believe track to and Despite sales quarter in toward environment, unknowns With same-store there start. on are any fourth a how up will strong of figure comparable quarter figure encouraged will pandemic the off against the issued. are a sales and prior orders continuing being are We July, trends COVID-XX shelter-in-place is XX% fourth impact including if remain, many for macroeconomic fiscal XXXX. that we

year more Operator, quarter year. additional into will XXXX open We earnings no expect our insight this to call are year-end offering concludes our our at guidance on you provide this This time, but for remarks. the please fourth fiscal questions? and prepared later line

Operator

[Operator Instructions] Our first question comes from Joe Altobello with Raymond James.

Joe Altobello

year. said Jack, similar you a I just to that July comp of wanted So to to you first expect just or question, expect last clarify And what a something a I good said you start. start said off you off similar, that think as a good being about Is you XQ said? QX you

Jack Ezzell

Yes, correct. that's

So something teens. in the high

were the I think quarter. XX, for of last we year, XX% shy just

teens. high that in something So

Joe Altobello

guys as are well. sure space, Perfect. And obviously, boaters then of a from secondly, benefiting the you seeing I'm into new we're and lot that

some you forward year how of doing stay those in maybe there And new in next that. Is perhaps sure you boat new from make to that curious think what category? engaged some, pull the about are buyers? boaters differently terms Just

Austin Singleton

I Joe, can saying. off one. kind tag team think that's, me Anthony I'll Well, and start of that by

be might in the trend went I to April same case. when way, started if think on, the we forward. don't But early know thought to continued business beginning, pulling we see ramp-up it's this April, the that's I we as as really at really in some

couple think of is different a what I seeing things. we're

like into, this owner because it. can recreational boaters current then brand new, an and leisure And aren't activity in. that that boaters jump the the an getting discovered known past past, do that has they've rejuvenated that activity they from new have for that you environment it's boat anymore seeing they You're outlet of as we're

look of perform we experience, deliver kind lifelong able we're to that create now we So the and boaters. supposed to if it that at we're way

past, was, the the of not OneWater jump as experience jump only industry that it because the that a at that looked just happened a that and was is, of you when a the think consumer but think today. lot with industry lot out, it not the I level you whole the at I had people from into when would at of

we is we're from has of a our first-time the out I they for you of just that ones at premier delivering that? to going I able the forward the should to to MarineMax, dealers boating buyers trend something think business keep get grow that want experience think the of, you and think be acquisitions, we into is dealers, boating these that of just, some presented and to Anthony, because to kind term, should what pleasurable looking a new next I I lot makes it got, reasons your a environment are pull add us. it's people captivate to these it competitor, won't enthusiasts premier that think. something that don't long guys long-time year. I driving want to into

Anthony Aisquith

boat either gosh" Austin. ago, and with an with today that Yes. we I are would it's they're into the I little are back design, just mean Joe. It aligned anything currently brands they're the it technology, Years And out come wasn't every the a a manufacturer these boating, mean layout, each different coming business, year, "oh with that coming was boat. when new. I year, out color. new my boat back with of out started their bit, people coming some in

blessed in current so God, And It's wowed that "Oh, continue has I've come number past." new more are to be these if that they're [been since to if will, they're changed my missing] how this color a coming I makes They're, because boating change, manufacturers models So that these than by to of far boaters boating. the and see out. we're one, going with just back the look brands them sense. stay think into you that

Joe Altobello

that does. yourselves you I and just the in buyer. in you or past, boat was boaters guys there's engagement purchase a have a of But curious, it between the mean it new No, relationship buyers more of have been boat? way may more post if changing that lot and that general, between does is do business? the you it new Meaning, the transactional boat buyer

Anthony Aisquith

absolutely. Well,

boater, For more there's the new yes. engagement,

lion's that in and we the think boaters were experience, great be place to our is boating didn't with that people where because share in things boating, all in other These these buying. to to we of these that is want I stores, expect the people are in the to stay a shine people used have For dealing boating, that that's keep the in they of give when experience past actually other were dealers boating. or in they things them that in

Austin Singleton

I want to that to Joe. quick, add real

that of secret bit little buying our an is a a car. our emotional a maybe process It's sauce on sales purchase. a like not think I little of buying bit is and boat

I our We be emotional to boat a a to business friendship-type used kids think that our go the having want food creates transactional-type an is experience. almost that and sales school. Anthony You of old process that but Buying and get it to between to deal guys not part staff place and take is more the becoming in be. have of car work it that like go to work we put to a of versus really way and have sales has emotional a that the an purchase, instead friendship on relationship service of only

Operator

next with Mike Instructions] SunTrust. question Swartz [Operator comes Our from

Mike Swartz

we're winter what inventory until out of fall headwind given [indiscernible]? But lot going on to any there going tight, off the availability lower hear have made things we is you'll the obviously, comments costs reason environment, sales the through the environment. seeing actually what to what's could to obviously, on. start somewhat very there starting suspect is, that, and or carrying and present you've inventory maybe A Just the are that limit of a

Austin Singleton

Go Anthony. ahead,

Anthony Aisquith

inventory our or and steadily April, way our and it at it Not model, peaks this rising you March in time, September if because pretty really around and starts drops just look heavily the at business all traditionally through then September.

So had are to was that's, best lightest. first the our your October, best time declining, happen is the this our into if it quarter, time as to start happen for going which that's sales sales the because where

and costs the So carrying be loss having that's what the to for not is so what we're have of with stored and extra and on less comment going forth boats season. ready because so

we've making shortage don't of amount got been and if dealing manufacturers out we our the of see at will, the have sure right ahead you that timed, with So the way I it and all. the we've inventory coming so curve,

Austin Singleton

carry in salesperson as inventory model and touch as I'd can a have, one lot A to particular of all so right? lot the that, a button We a we a different to a brands we present of of also our that add good at pull boat a location management customer spot. on a of different locations, with tools, visibility. lot well of right at have up our locations with

that good so our And and facilitate when manufacturers. good in not of order secondly, out physically going pipeline boat a of the And have visibility coming we volume manufacturers there. into what's are, very our is transactions helps then

of to Xst. a going And boat it prefer on around July that's land and Give us so a the sell XXth. could to to customer couple our and the turn ability it it at store August days take

Mike Swartz

just And commentary in the but me, little language a around a it's maybe sounded different M&A, just terms.

talked, said off be I of last 'XX. time the fiscal on you year think until M&A holding we kind you'd

the in in of so you targets acquisition there like look is three And over sounds aftermath and the the everything months, guess, that's to I reading then, Now that four second, any change it's more am past I the in COVID? industry then just given at correctly? happened it way

Austin Singleton

And down, it, of evaluating if just sure we and made the earlier our was answer we to of target EBITDA were it's negative. get had make so to that we of inventory mentioned kind that be that that comments, to to piece out sure didn't these impact were and really tailwinds. were kind the we be we tailwinds, had mainly it'd Jack at looking crossed, the that then COVID checked. the then were had of kind because gotten first And once tailwinds both So it to those people we going know the they support and to EBITDA same did we've some figured slowing we in boxes of we signal able we of like that

we And so about the the is bit more little only price thing that an just through we've we us a to to done percentage little differently was we winter into out, that flare-up in moving being ourselves COVID spring. of if that sure the forward at if look changing there a impacted a towards probably this certain another make or in purchase or pull stuff the have stuff protect next way we're were of earn in

answered question again? that second was one. first What think the I the

Mike Swartz

differently. if target wondering at just look the I'm it. was you that No,

a maybe So purchase. structure just the in answer that's how of terms you

Austin Singleton

don't looking at think Yes, them I we're any differently.

think a just of at the I to tweak structure. little bit a looking small we're

Mike Swartz

don't for Jack. I And maybe question then, know,

repair completed quarter in for the in there maybe that the current obviously have service, of which quarter, pipeline you'll impacted looks of any the the Just during sense by what parts, the during been store was to terms the get that closures maybe the business, or couldn't beyond? quarter work like

Jack Ezzell

of demand remarks believe great with And obviously, the the later work to varying customers boats be the the maybe until But off after we've as expand certainly, demand, in have into are that year conversations stores stand-alone the like service comment also what I them side. don't retail part those dollars other that of a some level It's something then season. a to or varies, where of there's we, existing customers an and a oil going process But who really up. more capture more exactly market, boats we to repairing had wouldn't anecdotally, delaying not only grow I about some service. facilities get need in take say but sense need Anthony's maintenance, are. then fiberglass only our service. Yes, mean, certainly that's in burden sales the winterization, continue opening change, that some of to to he need partly customers on for made were that our help we

Austin Singleton

saying has not one and add Anthony of thing the been kind reason me right, this, what just just pushing let it's other for it's Mike, that too, us, was and And Jack dealers.

are have dealer running side. So in, service, that's great on XX%, they mom-and-pop dealership, if they've in a you been kind always but to the been demand were competitor we've they've a upside just a same been but that's just huge total of increase. going a we're market next of got the service, season, amount just for great into that the And extra service the to of be there's And out much from not where selling past from boats their a new XX%, there's XXXX, the selling running maxed market. of of so service think XX%, fall, the extra end the entering, the having market, customers. XX%, all They've to done could to XX%, increase, boats the what they in we and they that's then into this sudden next all spring up that's flood going

think So tailwinds have we service. on that some the good I

Operator

with Kennison Baird. Craig from comes question next Our

Craig Kennison

I hopped here. on late apologize, I

I going in talk quarter? So comment been perfect you've a you've something boaters? guess, your been it that, the outperformance to to thought make mean, asked no to these comical you those technology Apologies place, which sure It how are then in we COVID that about company was March we Anthony? But but I'm was about stuff, cover that if something things. want I just wanted what driving here. I for working lot launched timing. you cover why on was they're you all take hit. put of Well, all was Anthony questions. One, in it's It impactful on a lifelong we that March, there's kind And of this customers think Anthony doing seeming going be when launched we've that to, X of that some first-time just to the I working and on retail the we've once invested and wasn't idea ask that, about of And got on I technology it at been let second, we now. had, we don't in but technologies that about did you that of had the some COVID X advantage year to had

Anthony Aisquith

[indiscernible] staff that it's different team and the usually wherever quotes you our boat to to want for process leads of in inventory, is the Yes, the I just that ways take instantly, to the besides buttons, and store that's mining night phones done they're touch be our almost in is, their quotes we to at couple a being and a of don't somebody other they're give home money are have deal But about. able pictures vacation, talk sales or a we're a access get and and access in probably real-time boat could receive, they and and process, at they full on how in complete wherever, leads to to handle home, Texas do Atlanta, grocery have that they is at on have location. and whether where they're it's that

the own, do have a inventory represent to brand. though different able that we the same still or we're of parts brands, of lot we that handle can country do XX we So even share

able share time. we're in So real that inventory to

Craig Kennison

system where I want quick lead that this want many, how our allows don't a sense a generation maximizing thing And we're think sourcing one has, our I in front we're making for and on sure I, real get efficient, for efficiency people Anthony who and follow-up, first stuff lead up give I a Anthony, more standpoint every customer to from an platform sends digital of monitor in? we of that that one super into know particulars, us it's much the fast of so cover how mean how year? how, but that is, mean I thing general to to we

Anthony Aisquith

real-time I we're have where boat I it leads, just to CRM Sure. fortunate of very it's comes the leads, a trailer that what's center people country, all are in. of of mean our in, to hours. manufacturer business in talked this websites parts monitored also talk all and to mean to. our ensure enough built We've with to during the some BDC are technology how every customers installed,

less And in Web day may put minutes. site, XX someone's unfortunately, industry, into than so. back Our if you you a get a to is in our lead something were or goal

minutes during with communicating we're in So time. business XX our than less people

Craig Kennison

What is didn't increase, earlier. cover We lead that the Anthony?

Anthony Aisquith

XXX%. Yes. I did on call. It's the

our But put XXX%. not on before we're it's would we comes tools is them that they actually up we of during quarter, and that followed able real the in where business if their turn somebody For place website, that hours. information have some within start have into lead with XX today, the in then talking then to minutes a

Austin Singleton

office and at having the closures and significant advantage and displaced our technology, the lake, a this quarter, all home, competitive typical so I were note, house, of to enabled to a see partial work on so certainly from in during right? way. the and definitely asked with I of them and end places. a and we technology out quarter. results mean that sale as were March, Yes. It's sheltering to April, mean this think helped do was, staff being store impacted just through the customer's tremendous of also were their back if we I People, from Xst you important

Craig Kennison

a this And come of versus I'm maybe advantages your wondering a from in you? tool to element have might the extent CRM if than where synergy maybe, synergy form generation sense could, is lead be a drive to what consolidation that respect tool you sales to department would F&I to target think strategy, you achieve might another think one target. with your the able of follow-up, better I that be you without as it

Austin Singleton

that mean sales. better that we They they're two in to their some No I talking like, that question. great one deliver I brands. or No are it that great. mean phenomenal are price dealers will this are doing sales pads technology additional do. notes. in we question market. carry boating will everything They one guy sticky one sheet. legal and They're with and acquisition in Absolutely, any drop on markets, to revenue do have great they

Operator

in like I'm for queue. the any the I'd Singleton turn remarks. at further Mr. back showing questions no to And call Austin time, to this closing

Austin Singleton

everybody on call. Thanks. want to the jumping your interest Well, in we we for thank just appreciate the call, and and concludes OneWater, this

Operator

your and disconnect. may Ladies you you program, conference. your on does now today's and participation for thank gentlemen, conclude This