LOUDON, Tenn., Jan. 22, 2026 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU) announced today that it will release its second quarter fiscal 2026 financial results on Thursday, February 5, 2026, before the market opens. Following the release, the company’s management will host a conference call to discuss the results at 8:30 a.m. Eastern Time on the same day. The call will be hosted by Malibu’s President and Chief Executive Officer, Steve Menneto, and Chief Financial Officer, David Black. Investors and ...

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Core Insights - Malibu Boats, Inc. has increased its share repurchase program from $50 million to $70 million, reflecting the board's confidence in the company's long-term strategy and financial position [1][2] - The company aims to balance investing in its core business while returning excess capital to shareholders, indicating a commitment to delivering shareholder value [2] Financial Performance - In the second quarter, Malibu Boats repurchased $20.7 million of shares under the existing repurchase program, demonstrating active capital allocation [3] Company Overview - Malibu Boats, Inc. is a leading designer and manufacturer of recreational powerboats, including performance sport, sterndrive, and outboard boats, with a strong market presence in various segments [4] - The company is recognized for its innovation in the powerboat industry, catering to a diverse range of recreational boaters and water sports enthusiasts [4]

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Core Viewpoint - Malibu Boats, Inc. has appointed David S. Black as Chief Financial Officer to enhance financial performance and support future growth initiatives through acquisitions and strategic planning [1][3]. Company Leadership - David S. Black, previously Vice President of Finance and interim CFO, has over 19 years of experience in accounting and finance, including roles as Corporate Controller and Director of Internal Audit [2][3]. - The CEO, Steve Menneto, expressed confidence in Black's ability to drive the company's growth and financial strategy, emphasizing his understanding of the business and strategic vision [3]. Fiscal Guidance - For fiscal year 2026, Malibu Boats anticipates net sales to be flat to down mid-single digits percentage points year-over-year, with an Adjusted EBITDA margin ranging from 8% to 9% [4]. - The company has not provided reconciliations for the Adjusted EBITDA margin due to the unpredictability of certain costs related to vertical integration, stock-based compensation, and litigation [5]. Company Overview - Malibu Boats, Inc. is a leading designer and manufacturer of recreational powerboats, including performance sport, sterndrive, and outboard boats, with a strong market presence in various segments [6].

Core Insights - Malibu Boats, Inc. has achieved an unprecedented sixth consecutive win for its Malibu Wakesetter 23 LSV as Wakesurf and Wakeboard Boat of the Year at the WakeWorld Riders Choice Awards, highlighting its dominance in the watersports boat market [1][2] Company Overview - Malibu Boats, Inc. is a leading designer, manufacturer, and marketer of a diverse range of recreational powerboats, including performance sport, sterndrive, and outboard boats [5] - The company is recognized as the market leader in the performance sport boat category through its Malibu and Axis brands, and holds a leading position in the 20'–40' segment of the sterndrive boat category with its Cobalt brand [5] Product Highlights - The Malibu Wakesetter 23 LSV is celebrated for its iconic design, balanced performance, and versatility, accommodating up to 16 passengers and featuring Malibu's exclusive Wake Plus™ Hull or Diamond Hull™ options [2] - Advanced technologies such as Surf Gate®, Power Wedge III, and the Malibu Command Center™ allow for customizable wake and wave settings, enhancing the user experience [2] Recognition and Awards - The recognition of Malibu's team riders at the WakeWorld Riders Choice Awards underscores the company's commitment to excellence and innovation in the watersports industry [3][4] - Notable achievements include first and second place finishes for Malibu and Axis team riders in various categories, showcasing the talent and dedication of the athletes [6]

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Financial Data and Key Metrics Changes - Net sales increased approximately 13.5% year over year to $194.7 million, driven by increased unit volumes and inflation-driven price increases [11] - Adjusted EBITDA for the quarter increased 19.1% to $11.8 million, with adjusted EBITDA margin rising to 6.1% from 5.8% in the prior year [13] - GAAP net loss decreased 86.2% to a loss of $700,000 [13] - Consolidated net sales per unit increased 2.9% to $172,500 per unit [11] Business Line Data and Key Metrics Changes - In the Malibu segment, gross profit decreased 1% to $27.9 million, with gross margin as a percentage of sales at 14.3%, down 210 basis points year over year [12] - Unit volume increased 10.3% to 1,129 units, with Malibu and Axis brands representing approximately 47.7% of unit sales [11] - Saltwater fishing represented 25.5% and Cobalt made up the remaining 26.8% of unit sales [11] Market Data and Key Metrics Changes - Retail activities remained soft, with inventories entering the quarter slightly elevated [4] - The company expects the market to decline in the range of mid to high single digits for the year, with a continuation of high single digit to low double digit decline through the second quarter [15] Company Strategy and Development Direction - The company is focused on driving growth and long-term value creation through its Build, Innovate, and Grow framework, expanding capabilities beyond boat building into parts, accessories, and marine services [5] - A new financing partnership, MBI Acceptance, was launched to support dealer retail activity [5][6] - The company aims to protect dealer health, manage production with precision, and continue pushing innovation [9] Management's Comments on Operating Environment and Future Outlook - Management remains realistic about the broader marine environment, noting no clear inflection signaling a market recovery [9] - The company is maintaining its full-year guidance, expecting sales to be flat to down mid single digit percentage points [15] - Management expressed confidence in the ability to outperform the market while building for the next up cycle [10] Other Important Information - The company generated $2.5 million of free cash flow during Q1, inclusive of $4.3 million of capital expenditures [13] - The company anticipates consolidated adjusted EBITDA margin for the full year ranging from 8% to 9% [16] Q&A Session Summary Question: Impact of interest rates on consumer behavior - Management noted that consumer sentiment has improved with recent rate cuts, but retail finance rates will take time to reflect these changes [19] Question: Higher dealer incentives for Malibu brand - Management indicated that higher dealer incentives were related to clearing inventory and expected a competitive promotional environment moving forward [20] Question: Inventory management and expectations - Management stated that dealer inventories are expected to reduce across all segments, aligning production with market expectations [21][29] Question: Insights on MBI Acceptance rollout - Initial feedback on MBI Acceptance has been positive, with strong dealer engagement and early success in the rollout [32][34] Question: Discounting levels in the market - Management acknowledged that while discounting has cooled from previous excess inventory levels, the environment remains competitive [38] Question: Consumer purchasing behavior - Management observed no significant changes in the cash buyer versus payment buyer dynamic, with MBI Acceptance expected to provide more insights over time [55]