MasterCraft Boat Holdings Q4 sales, profit beat on acquisition-driven growth, higher volumes
MCFT•Outlook
- Company expects six-month transition period net sales between $287 mln and $291 mln
- Company sees six-month transition period adjusted EBITDA between $29 mln and $32 mln
- Company expects six-month transition period adjusted EPS between $0.66 and $0.76
Overview
- US recreational powerboat maker's fiscal Q4 sales rose 63%, beating analyst expectations
- Adjusted EPS for fiscal Q4 beat analyst expectations, driven by strong core operations
- Company completed Marine Products acquisition, boosting sales and incurring related expenses
Result drivers
- Marine Products acquisition - Incremental net sales from the Marine Products acquisition drove most of the Q4 sales increase
- Higher volumes and prices - Increased unit volumes, higher prices, and lower dealer incentives supported sales growth, partially offset by unfavorable model mix
- Impairment and transaction costs - Q4 earnings were reduced by a $10.1 mln non-cash impairment charge in the Leisure segment and $11 mln in acquisition-related expenses
Analyst coverage
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