LOUDON, Tenn., June 24, 2025 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU), a leading designer, manufacturer and marketer of a diverse range of recreational powerboats, announced today that Melanie Cook, former Chief Operating Officer of GE Appliances, has been appointed to the Company’s Board of Directors as an independent director, effective immediately. Ms. Cook will serve on the Audit Committee and the Nominating and Governance Committee. “We are excited to welcome Melanie to our board,” said Mi ...

Core Insights - Malibu Boats continues its partnership with General Motors, naming Chevrolet as the Official Vehicle Brand, enhancing their collaboration in the boating industry [2][4] - The partnership focuses on the vertical integration of the Monsoon Line of engines, which are exclusively designed for Malibu and Axis Boats [3][4] - This collaboration aims to leverage advanced technology to improve performance, fuel economy, and reliability in boating experiences [3][6] Company Overview - Malibu Boats, Inc. is a leading designer and manufacturer of recreational powerboats, holding a significant market position in various categories including performance sport boats and sterndrive boats [7] - The company is recognized for its innovation in the powerboat industry, catering to a diverse range of recreational boaters and water sports enthusiasts [7] Partnership Details - The partnership will support Malibu's initiatives such as the Malibu Just Ride Tour and WakeFest TN, ensuring the brand remains at the forefront of the boating industry [4] - Chevrolet's vehicles, including the Silverado and Tahoe, are popular among boat owners, reinforcing the synergy between the two brands [4]

Core Insights - The 2025 Just Ride Tour, hosted by Malibu Boats, is set to return, offering an immersive on-water experience across North America with over 45 stops [5][7][11] - The tour features the Malibu Wakesetter 24 MXZ, towed by the Chevrolet Silverado 3500HD High Country, showcasing the performance of Malibu Boats [5][7] - The event emphasizes community engagement, allowing families and riders to connect with Malibu pro athletes for hands-on instruction and product demonstrations [2][4][8] Company Overview - Malibu Boats, based in Loudon, Tennessee, is a leading designer and manufacturer of recreational powerboats, including performance sport and sterndrive boats [14] - The company is recognized as a market leader in the performance sport boat category through its Malibu and Axis brands [14] - Malibu Boats collaborates with GM Marine to develop the Monsoon engine lineup, which powers their boats and enhances performance [9][10] Product Highlights - The Monsoon engine lineup includes the GM 6.2-liter supercharged V8 LT4 engine, delivering 607 horsepower and 606 lb-ft of torque, specifically adapted for marine use [9] - The Just Ride Tour showcases the capabilities of Malibu's boats, particularly the Wakesetter 24 MXZ, which is designed to create exceptional wakes and waves [6][9] Marketing and Sponsorship - The tour is supported by various sponsors, enhancing the overall experience for participants [10] - Malibu Boats aims to bring the Malibu lifestyle to communities, emphasizing the connection between boating enthusiasts and the brand [11]

Core Insights - Malibu Boats has welcomed Aquaknox Marine to its dealer network, enhancing its presence in East Tennessee [1][4] - Aquaknox Marine, founded in 2008, emphasizes professionalism, transparency, and customer experience in the boating industry [2][3] - The partnership aims to provide a full lineup of Malibu and Axis Wake boats, improving customer access to high-quality watersports experiences [3][4] Company Overview - Malibu Boats, based in Loudon, Tennessee, is the largest manufacturer of watersports towboats, including brands like Malibu and Axis Wake [5] - The company is known for its innovative products such as Surf Gate®, Power Wedge®, and Malibu Command Center™, which enhance the watersports experience [5] Dealer Profile - Aquaknox Marine operates two locations in East Tennessee and is recognized for its commitment to customer service and industry knowledge [3] - The company aims to build trust within the boating community by prioritizing customer satisfaction and integrity [2][3]

Group 1 - Malibu Boats reported revenue of $228.66 million for the quarter ended March 2025, representing a 12.4% increase year-over-year [1] - The earnings per share (EPS) for the quarter was $0.72, up from $0.63 in the same quarter last year, with an EPS surprise of +7.46% compared to the consensus estimate of $0.67 [1] - The reported revenue exceeded the Zacks Consensus Estimate of $223.38 million by +2.37% [1] Group 2 - Key metrics indicate that Malibu Boats' net sales per unit totaled $159,792, which was below the average estimate of $166,199.50 [4] - The unit volume by segment was 1,431, surpassing the two-analyst average estimate of 1,346 [4] - Revenue by product showed mixed results: Malibu generated $102.20 million, significantly above the estimate of $67.55 million; Cobalt generated $54.60 million, below the estimate of $71.70 million; and Saltwater Fishing generated $71.90 million, below the estimate of $84.15 million, reflecting a year-over-year decline of -11.5% [4] Group 3 - Over the past month, shares of Malibu Boats returned +5%, while the Zacks S&P 500 composite increased by +11.3% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Company Performance - Malibu Boats reported quarterly earnings of $0.72 per share, exceeding the Zacks Consensus Estimate of $0.67 per share, and up from $0.63 per share a year ago, representing an earnings surprise of 7.46% [1] - The company posted revenues of $228.66 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 2.37%, compared to year-ago revenues of $203.42 million [2] - Over the last four quarters, Malibu Boats has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Performance - Malibu Boats shares have declined approximately 20.8% since the beginning of the year, while the S&P 500 has decreased by 4.3% [3] - The current consensus EPS estimate for the coming quarter is $0.77 on revenues of $210.93 million, and for the current fiscal year, it is $1.82 on revenues of $806.15 million [7] Industry Outlook - The Leisure and Recreation Products industry, to which Malibu Boats belongs, is currently ranked in the bottom 28% of over 250 Zacks industries, indicating potential challenges ahead [8] - The performance of Malibu Boats may be influenced by the overall outlook for the industry, as research shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8]

Malibu Boats (MBUU) Q3 2025 Earnings Call May 08, 2025 08:30 AM ET Company Participants Bruce Beckman - Chief Financial OfficerSteve Menneto - CEO & PresidentEric Wold - Executive Director, Equity ResearchMichael Swartz - Director & Equity ResearchRyan Williams - Senior Equity Research Associate Conference Call Participants Craig Kennison - Director of Research Operations & Senior Research AnalystMichael Albanese - Research AnalystJaime Katz - Senior Equity Analyst Operator Good morning and welcome to Malib ...

Malibu Boats (MBUU) Q3 2025 Earnings Call May 08, 2025 08:30 AM ET Speaker0 Good morning and welcome to Malibu Boats Conference Call to discuss Third Quarter Fiscal Year twenty twenty five Results. At this time, all participants are in a listen only mode. Later, we will conduct a question and answer session and instructions will follow at that time. Please be advised that reproduction of this call in whole or in part is not permitted without written authorization of Malibu Boats. And as a reminder, today's ...

PART I FINANCIAL INFORMATION [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) Presents the unaudited condensed consolidated financial statements for the three and nine-month periods ended March 31, 2025, and 2024 [Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20(Loss)%20(Unaudited)) For Q3 2025, the company reported net sales of $228.7 million and a net income of $13.2 million, a significant turnaround from the prior year's loss Consolidated Statements of Operations Highlights (in thousands) | Metric | Three Months Ended Mar 31, 2025 | Three Months Ended Mar 31, 2024 | Nine Months Ended Mar 31, 2025 | Nine Months Ended Mar 31, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $228,662 | $203,419 | $600,522 | $670,323 | | **Gross profit** | $45,724 | $40,333 | $111,351 | $134,602 | | **Operating income (loss)** | $17,367 | $(74,902) | $14,932 | $(31,568) | | **Net income (loss)** | $13,173 | $(67,759) | $10,447 | $(36,845) | | **Basic EPS** | $0.66 | $(3.28) | $0.52 | $(1.79) | - A significant goodwill and intangible asset impairment charge of **$88.4 million** was recorded in fiscal 2024, driving the net loss in that period[13](index=13&type=chunk) [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20(Unaudited)) Total assets increased to $758.8 million as of March 31, 2025, driven by higher cash and receivables, while liabilities rose due to credit facility drawings Consolidated Balance Sheet Highlights (in thousands) | Metric | March 31, 2025 | June 30, 2024 | | :--- | :--- | :--- | | **Total current assets** | $237,938 | $202,129 | | **Total assets** | $758,766 | $739,624 | | **Total current liabilities** | $148,374 | $138,586 | | **Long-term debt** | $28,000 | $0 | | **Total liabilities** | $240,830 | $204,905 | | **Total stockholders' equity** | $517,936 | $534,719 | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20(Unaudited)) For the nine months ended March 31, 2025, net cash from operations was $35.5 million, while cash used in investing decreased significantly Cash Flow Summary (in thousands) | Activity | Nine Months Ended Mar 31, 2025 | Nine Months Ended Mar 31, 2024 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $35,467 | $39,221 | | **Net cash used in investing activities** | $(20,575) | $(64,092) | | **Net cash used in financing activities** | $(2,855) | $(6,875) | | **Change in cash** | $11,768 | $(31,821) | | **Cash - End of period** | $38,713 | $47,116 | [Notes to Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes detail revenue disaggregation, debt agreements, stock-based compensation, and significant legal proceedings across three reportable segments - The company operates and reports results under three segments: **Malibu, Saltwater Fishing, and Cobalt**[23](index=23&type=chunk)[101](index=101&type=chunk) - As of March 31, 2025, the company had **$28.0 million outstanding** under its revolving credit facility, with $320.3 million available for borrowing[49](index=49&type=chunk) - The company is involved in several legal proceedings for which it is unable to estimate the range of possible loss[94](index=94&type=chunk)[96](index=96&type=chunk)[98](index=98&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management analyzes financial performance, highlighting a Q3 sales increase but a nine-month decrease, with a cautious outlook due to market challenges [Business Outlook](index=28&type=section&id=Outlook) The company anticipates continued industry challenges from macroeconomic factors and expects dealers to reduce inventories in fiscal 2025 - The recreational powerboat industry is challenged by **high inflation and interest rates**, impacting production costs and consumer demand[113](index=113&type=chunk) - Dealers are expected to **reduce inventories further** in fiscal 2025 due to high flooring costs and a soft retail environment[114](index=114&type=chunk) - The company anticipates delivering **higher sales in the second half of fiscal 2025** relative to the prior year and the first half of fiscal 2025[118](index=118&type=chunk) [Results of Operations](index=32&type=section&id=Results%20of%20Operations) Q3 2025 net sales rose 12.4% driven by the Malibu segment, while nine-month sales fell 10.4% due to lower volumes across all segments Q3 2025 vs Q3 2024 Net Sales by Segment (in millions) | Segment | Q3 2025 | Q3 2024 | % Change | | :--- | :--- | :--- | :--- | | Malibu | $102.2 | $60.2 | +69.8% | | Saltwater Fishing | $71.9 | $81.2 | -11.5% | | Cobalt | $54.6 | $62.0 | -12.0% | | **Total** | **$228.7** | **$203.4** | **+12.4%** | Nine Months 2025 vs 2024 Net Sales by Segment (in millions) | Segment | Nine Months 2025 | Nine Months 2024 | % Change | | :--- | :--- | :--- | :--- | | Malibu | $232.4 | $241.6 | -3.8% | | Saltwater Fishing | $206.8 | $256.6 | -19.4% | | Cobalt | $161.4 | $172.2 | -6.3% | | **Total** | **$600.5** | **$670.3** | **-10.4%** | - Gross margin for the nine months ended March 31, 2025 **decreased 160 basis points to 18.5%** due to lower sales and fixed cost deleverage[146](index=146&type=chunk) - General and administrative expenses for the nine months **increased 34.5% to $73.6 million**, driven by legal settlements and related fees[147](index=147&type=chunk) [Non-GAAP Financial Measures](index=36&type=section&id=GAAP%20Reconciliation%20of%20Non-GAAP%20Financial%20Measures) The company provides reconciliations for Adjusted EBITDA and Adjusted Fully Distributed Net Income, showing mixed results compared to the prior year Adjusted EBITDA Reconciliation (in thousands) | Metric | Three Months Ended Mar 31, 2025 | Three Months Ended Mar 31, 2024 | Nine Months Ended Mar 31, 2025 | Nine Months Ended Mar 31, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Net income (loss)** | $13,173 | $(67,759) | $10,447 | $(36,845) | | **Adjustments** | $15,150 | $92,168 | $44,660 | $123,172 | | **Adjusted EBITDA** | $28,323 | $24,409 | $55,107 | $86,327 | | **Adjusted EBITDA Margin** | 12.4% | 12.0% | 9.2% | 12.9% | Adjusted Fully Distributed Net Income per Share | Metric | Three Months Ended Mar 31, 2025 | Three Months Ended Mar 31, 2024 | Nine Months Ended Mar 31, 2025 | Nine Months Ended Mar 31, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Adjusted Fully Distributed Net Income per Share** | $0.72 | $0.63 | $1.12 | $2.33 | [Liquidity and Capital Resources](index=41&type=section&id=Liquidity%20and%20Capital%20Resources) The company's primary cash sources are operations and its credit facility, with fiscal 2025 capital expenditures projected at $25.0 to $30.0 million - Primary uses of cash include working capital, capital investments, debt repayments, acquisitions, and stock repurchases[162](index=162&type=chunk) - Expected capital expenditures for fiscal year 2025 are between **$25.0 million and $30.0 million**[164](index=164&type=chunk) - As of March 31, 2025, **$39.9 million was available for repurchase** under the 2024 Repurchase Program, which runs through June 30, 2025[170](index=170&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no material changes in its market risk from the disclosures in its most recent Annual Report on Form 10-K - There have been **no material changes in market risk** from those disclosed in the Company's Form 10-K for the year ended June 30, 2024[187](index=187&type=chunk) [Controls and Procedures](index=45&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal controls - Based on an evaluation, the CEO and CFO concluded that disclosure controls and procedures were **effective as of March 31, 2025**[189](index=189&type=chunk) - There were **no material changes in internal control** over financial reporting during the quarter ended March 31, 2025[190](index=190&type=chunk) PART II OTHER INFORMATION [Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) The company details significant ongoing legal matters for which the potential costs or outcomes cannot currently be estimated - The company is involved in several lawsuits, the outcomes of which are **uncertain and for which no reserve has been established**[192](index=192&type=chunk) - Key legal matters are detailed in Note 15 and include insurance litigation, disputes with Tommy's Boats, a securities class action, and a customer class action[94](index=94&type=chunk)[96](index=96&type=chunk)[98](index=98&type=chunk)[100](index=100&type=chunk) [Risk Factors](index=46&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes to the risk factors previously disclosed in its Annual Report on Form 10-K - There were **no material changes to the risk factors** discussed in the Annual Report on Form 10-K for the year ended June 30, 2024[193](index=193&type=chunk) [Unregistered Sales of Equity Securities and Issuer Purchases](index=46&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company repurchased 279,340 shares for $10.1 million during the quarter, with $39.9 million remaining under its repurchase program Share Repurchases for Quarter Ended March 31, 2025 | Period | Total Shares Purchased | Average Price Paid Per Share | Approx. Dollar Value Remaining Under Plan | | :--- | :--- | :--- | :--- | | Jan 2025 | 122,710 | $36.64 | $45,459,000 | | Feb 2025 | 118,077 | $36.20 | $41,142,000 | | Mar 2025 | 38,553 | $31.90 | $39,900,000 | | **Total** | **279,340** | **$35.94** | **$39,900,000** | - The 2024 Repurchase Program allows for the repurchase of up to **$50.0 million** of Class A Common Stock and LLC Units through June 30, 2025[195](index=195&type=chunk) [Defaults Upon Senior Securities](index=46&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities during the period - None[196](index=196&type=chunk) [Mine Safety Disclosures](index=46&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not Applicable[197](index=197&type=chunk) [Other Information](index=47&type=section&id=Item%205.%20Other%20Information) The company reported no other information required to be disclosed under this item - None[198](index=198&type=chunk) [Exhibits](index=48&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the report, including corporate governance documents and required CEO/CFO certifications - The report includes standard corporate governance documents and required CEO/CFO certifications as exhibits[199](index=199&type=chunk)

Malibu Boats, Inc. Third Quarter Fiscal 2025 Earnings Results May 08, 2025 USE & DEFINITION OF NON-GAAP FINANCIAL MEASURE This presentation includes the following financial measures defined as non-GAAP financial measures by the Securities and Exchange Commission: Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Fully Distributed Net Income and Adjusted Fully Distributed Net Income per Share. These measures have limitations as analytical tools and should not be considered as an alternative to, or more meani ...