MasterCraft Boat Holdings Q4 sales, profit beat on acquisition-driven growth, higher volumes
MasterCraft Boat Holdings Q4 sales, profit beat on acquisition-driven growth, higher volumes
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
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
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
Company press release: ID:nBw44whSRa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Sales | Beat | $129.90 mln | $101.75 mln (6 Analysts) |
Q4 Adjusted EPS | Beat | $0.67 | $0.64 (6 Analysts) |
Q4 Adjusted Net Income | Beat | $13.50 mln | $11.68 mln (4 Analysts) |
Q4 Adjusted EBITDA | Beat | $20.50 mln | $15.69 mln (6 Analysts) |
Q4 Adjusted EBITDA Margin |
| 15.80% |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the recreational products peer group is "buy."
Wall Street's median 12-month price target for Mastercraft Boat Holdings Inc is $28.00, about 22.9% above its September 9 closing price of $22.79
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago
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Sept 10 - US holiday retail sales growth set to accelerate, Deloitte says
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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MasterCraft Boat Holdings Q4 sales, profit beat on acquisition-driven growth, higher volumes
Mastercraft Boat Holdings Inc expected to post earnings of 64 cents a share - Earnings Preview
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