MasterCraft Boat shares sink on lower 2023 sales warning

Mastercraft Boat Holdings

08/09/2022 16:44

** MasterCraft Boat Holdings Inc's  MCFT.O  shares down
14.4% at $20.32 after qtrly report. Stock falls as low as $20.02
on Thurs, lowest since Oct 28, 2020
    ** Co early Thurs said expects FY 2023 sales of $580-$615
mln. It generated 2022 sales of ~$708 mln as increased volumes
and prices outweighed higher material costs and supply chain
snarls  urn:newsml:reuters.com:*:nGNXKwkwV
    ** “Looking forward, the potential for a weakening economy
has caused us to approach our wholesale production plan for
fiscal 2023 with a prudent level of conservatism," CEO Fred
Brightbill said in statement
    ** Fiscal Q4 sales of $218 mln and adj EPS of $1.77 top
Refinitiv IBES estimates of $195 mln and $1.50, respectively
    ** With decline on the session, shares down 28% YTD
    ** Trading volume of 332,664 shares compares to stock's
10-DMA of 99,762 shares, per Refinitiv

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))