MasterCraft Boat falls after downbeat FY25 forecast

Mastercraft Boat Holdings

29/08/2024 19:18

** Powerboats maker MasterCraft Boat Holdings'  MCFT.O 
shares fall 2.9% to $19.30
    ** Co expects its FY25 net sales to be between $265 mln and
$300 mln, compared with analysts' avg. estimates of $401.4 mln 
    ** On an adjusted basis, MCFT expects FY25 EPS between 36
cents and 87 cents/shr, below consensus of $1.59/shr 
    ** Co posts Q4 net sales of $67.2 mln, beating estimates of
$63.1 mln 
    ** "Although current market uncertainties have short-term
implications for wholesale shipments, our destocking efforts are
positive for dealer health," CEO Brad Nelson says
    ** 3 of 7 brokerages rate MCFT stock "buy" or higher, 3
"hold"; their median PT is $21
    ** Including session's moves, MCFT down 14.4% YTD

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.parmar@thomsonreuters.com))