MIAMI, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU), a U.S. designer and manufacturer of category-leading salt and freshwater recreational powerboat brands, today announced that five of its brands have been recognized with Customer Satisfaction Index (CSI) Awards from the National Marine Manufacturers Association (NMMA). The awards were presented at the 2026 Miami International Boat Show and Innovation Awards Breakfast. The NMMA CSI Awards honor boat brands that achieve the highest le ...

Core Viewpoint - Malibu Boats, Inc. reported a significant decline in stock price following the release of its fiscal Q2 results, indicating potential weaknesses in the company's performance [1]. Financial Performance - The company reported its fiscal Q2 results for the October-December period on February 5, leading to an 11% drop in stock price for the day [1]. Market Reaction - The stock's decline suggests that investors reacted negatively to the financial results, reflecting concerns about the company's operational performance and future outlook [1].

Core Viewpoint - Malibu Boats, Inc. reported a significant decline in stock price following the release of its fiscal Q2 results, indicating potential weaknesses in the company's performance [1]. Financial Performance - The company reported its fiscal Q2 results for the October-December period on February 5, leading to an 11% drop in stock price for the day [1]. Market Reaction - The stock's decline suggests that investors reacted negatively to the financial results, reflecting concerns about the company's operational performance and future outlook [1].

Core Insights - Malibu Boats reported solid fiscal second-quarter 2026 results, slightly exceeding internal expectations despite a challenging retail environment [4][11] - The company is optimistic about its inventory position and upcoming product launches, including two new models at the Miami International Boat Show [2][5] Financial Performance - Q2 net sales were $188.6 million, down 5.8% year-over-year, with unit volume decreasing by 9.5% to 1,106 units [7][11] - Gross profit fell 32.9% to $25.1 million, resulting in a gross margin of 13.3%, down 540 basis points from the previous year [13][15] - The company posted a GAAP net loss of $2.5 million compared to a net income of $2.4 million in the prior year, with adjusted EBITDA declining 52.5% to $8.0 million [15][16] Strategic Initiatives - Malibu is implementing a retail financing program, MBI Acceptance, offering rates as low as 3.99%, which is gaining traction among dealers [5][8] - The company is also launching a new marine components business, focusing on systems and processes, with early traction noted in product offerings [9][10] Market Outlook - Management expects full-year sales to be flat to down mid-single digits, with a continued decline in marine markets anticipated [17][18] - For fiscal Q3, net sales are guided to be between $198 million and $202 million, with an adjusted EBITDA margin expected around 8.5% [17][18] Dealer and Inventory Insights - Dealer sentiment has been mixed, but overall trends are positive, with boat shows meeting expectations [20] - The company noted a healthy inventory position for model year 2026 boats, while the broader industry is experiencing some destocking [5][21]

Core Insights - Malibu Boats, Inc. will showcase its brands at the Miami International Boat Show (MIBS) from February 11-15, 2026, featuring new models including the Pursuit DC 286 and Pathfinder 2800 Hybrid [1][2][3] Group 1: Event Details - The Miami International Boat Show is a significant event for the global marine industry, where Malibu Boats will present its latest offerings [3] - Attendees will have the opportunity to experience the public debut of the Pursuit DC 286 and Pathfinder 2800 Hybrid on February 11 [2][3] Group 2: Product Highlights - The Pursuit DC 286 is a 28-foot dual console designed for exceptional performance and comfort, filling a key space in the Pursuit lineup [5] - The Pathfinder 2800 Hybrid is a milestone model that combines innovation and performance, featuring several firsts for the brand, including a stepped-hull design for twin engines [8][9] - Malibu and Axis Boats will showcase performance-driven models like the Malibu M230 and Axis T250, emphasizing on-water performance and technology [4] Group 3: Brand Commitment - Malibu Boats, Inc. emphasizes its commitment to innovation, quality, and customer experience, aiming to connect with boating enthusiasts at the show [3] - Cobalt Boats will present a premium lineup reflecting luxury craftsmanship and performance, including models from its acclaimed outboard series [7] - Cobia Boats will debut the all-new 245 CC and 305 CC, focusing on fishing capability combined with family comfort [10]

Core Insights - Malibu Boats (MBUU) reported revenue of $188.62 million for the quarter ended December 2025, reflecting a year-over-year decline of 5.8% and an EPS of -$0.02 compared to $0.31 a year ago, indicating a significant drop in profitability [1] - The reported revenue exceeded the Zacks Consensus Estimate of $186.35 million by 1.22%, while the EPS surprise was +20% against the consensus estimate of -$0.03 [1] Financial Performance Metrics - Net Sales per Unit totaled $170,544, surpassing the two-analyst average estimate of $169,800 [4] - Unit Volume by Segment reached 1,106, slightly above the average estimate of 1,098 [4] - Revenue by product for Malibu was $70.6 million, exceeding the estimate of $68.7 million but showing a year-over-year decline of 4.7% [4] - Cobalt's revenue was reported at $52.6 million, above the average estimate of $51.85 million, with a year-over-year change of -6.1% [4] - Saltwater Fishing revenue was $65.3 million, slightly below the estimate of $66.05 million, reflecting a year-over-year decline of 7% [4] Stock Performance - Shares of Malibu Boats have returned +11.5% over the past month, outperforming the Zacks S&P 500 composite, which changed by +0.5% [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]

Financial Data and Key Metrics Changes - Net sales for Q2 2026 were $188.6 million, a decrease of 5.8% compared to the previous year, with unit volume down 9.5% to 1,106 units [12][14] - Adjusted EBITDA decreased 52.5% to $8 million, with an adjusted EBITDA margin of 4.3%, down from 8.4% in the prior year [15][18] - GAAP net loss for the quarter was $2.5 million, compared to a net income of $2.4 million in the prior year [15] - Consolidated net sales per unit increased 4.1% to $170,544 per unit [13] Business Line Data and Key Metrics Changes - Malibu and Axis brands accounted for approximately 46.4% of unit sales, while saltwater fishing represented 25.5%, and Cobalt made up 28.1% [13] - Gross profit decreased 32.9% to $25.1 million, with a gross margin of 13.3%, down 540 basis points from the prior year [14] Market Data and Key Metrics Changes - The broader marine industry is experiencing a modest overhang on non-current inventory, but the company maintains a healthy inventory position for its model year 2026 boats [9][11] - The company expects the market to decline in the range of mid to high single digits for the fiscal year [17] Company Strategy and Development Direction - The company is focused on a "Build, Innovate, and Grow" framework, emphasizing customer-driven innovation and operational excellence [8][11] - Plans to introduce new models at the Miami International Boat Show, showcasing differentiated products [7] - The company is expanding its marine components business and enhancing dealer partnerships to capture market share [10] Management's Comments on Operating Environment and Future Outlook - Management noted a competitive promotional environment but expressed optimism about customer response to new models and the overall retail environment [6][11] - The company anticipates flat to mid-single digit sales declines for the full fiscal year, with Q3 net sales expected between $198 million and $202 million [17][18] Other Important Information - The company generated $8.4 million of free cash flow during Q2, with $4.4 million in capital expenditures [16] - A share repurchase program was expanded to $70 million, with $20.8 million completed during the quarter [16] Q&A Session Summary Question: Impact of higher boat show expenses on EBITDA margin - Management indicated about 50 basis points of cost pressure from promotional activities related to year-end sales events [23] Question: Inventory levels compared to the industry - Management stated that the industry is generally in a healthy position, with the company feeling good about its inventory levels [24] Question: MBI Acceptance program's impact on sales - Early feedback from dealers was positive, indicating higher take rates at boat shows, although it is still early to determine overall trends [30] Question: Centralized sourcing cost savings - Management expects significant benefits from centralized sourcing efforts to impact margins positively in the latter part of the fiscal year [32] Question: Dealer sentiment and inventory management - Feedback from dealers has been mixed, with some positive trends leading to additional orders, but a level of destocking is expected due to market conditions [36] Question: Outlook for labor costs - Management anticipates improvements in labor costs as operational effectiveness and centralized sourcing efforts take effect [41] Question: Competitive landscape in the ski and wake category - Management noted ongoing efforts to stimulate growth in the ski/wake segment, with collaboration among competitors [43] Question: Confidence in EBITDA margin expansion - Management outlined expectations for sequential growth, fixed-cost leverage, and reduced promotional spending as drivers for margin growth [47] Question: Update on M&A pipeline - Management is actively looking for opportunities and conducting due diligence on potential deals [57]

Financial Data and Key Metrics Changes - Net sales for Q2 2026 were $188.6 million, a decrease of 5.8% compared to the previous year, with unit volume down 9.5% to 1,106 units [12][15] - Adjusted EBITDA decreased 52.5% to $8 million, with adjusted EBITDA margin dropping to 4.3% from 8.4% in the prior year [15][17] - GAAP net loss for the quarter was $2.5 million, compared to a net income of $2.4 million in the prior year [15] Business Line Data and Key Metrics Changes - Malibu and Axis brands accounted for approximately 46.4% of unit sales, while saltwater fishing represented 25.5% and Cobalt made up 28.1% [13] - Consolidated net sales per unit increased by 4.1% to $170,544 per unit, driven by favorable model mix in Cobalt and saltwater fishing segments [13][14] Market Data and Key Metrics Changes - The broader marine industry is experiencing a modest overhang on non-current inventory, but the company maintains a healthy inventory position for its model year 2026 boats [9][11] - The company expects the market to decline in the range of mid to high single digits for the fiscal year [17] Company Strategy and Development Direction - The company is focused on a "Build, Innovate, and Grow" framework, emphasizing customer-driven innovation and operational excellence [8][11] - Plans to debut new models at the Miami International Boat Show, showcasing differentiated products [7] - The company is expanding its marine components business and enhancing dealer partnerships to strengthen its market position [10] Management's Comments on Operating Environment and Future Outlook - Management noted a competitive retail environment but expressed optimism about customer response to new models and the success of promotional events [5][6] - The company is closely monitoring market conditions and is prepared to scale production if demand improves [18] Other Important Information - The company generated $8.4 million of free cash flow during Q2, with $4.4 million in capital expenditures [16] - A share repurchase program was expanded to $70 million, with $20.8 million completed during the quarter [16] Q&A Session Summary Question: Impact of higher boat show expenses on EBITDA margin - Management indicated that higher promotional costs related to year-end sales events contributed about 50 basis points of cost pressure for the quarter [22][23] Question: Inventory levels compared to the industry - Management stated that the industry is generally in a healthy position, with the company feeling good about its inventory levels [24] Question: MBI Acceptance program rollout and its impact - Early feedback from dealers was positive, indicating a higher take rate on financing options, although it is still early to determine overall trends [30] Question: Dealer sentiment and inventory management - Feedback from dealers has been mixed, with some positive trends observed at boat shows, leading to additional orders [35] Question: Outlook for labor costs - Management expects to see benefits from operational effectiveness and centralized sourcing efforts, which should help manage labor costs moving forward [39][41] Question: Competitive landscape in the ski and wake category - Management noted ongoing efforts to stimulate growth in the ski/wake segment, collaborating with industry peers [42][43] Question: Q3 EBITDA margin guidance and operating leverage - Management expects sequential growth in top line and benefits from centralized sourcing to drive margin growth in the latter part of the year [46][47]

Financial Data and Key Metrics Changes - Net sales decreased 5.8% to $188.6 million, with unit volume decreasing 9.5% to 1,106 units, primarily due to lower wholesale shipments and unfavorable segment and model mix [12][15] - Consolidated net sales per unit increased 4.1% to $170,544 per unit, driven by favorable model mix in Cobalt and saltwater fishing segments and inflation-driven price increases [12][13] - Gross profit decreased 32.9% to $25.1 million, with gross margin at 13.3%, a decrease of 540 basis points compared to the prior year [13][14] - Adjusted EBITDA decreased 52.5% to $8 million, with adjusted EBITDA margin decreasing to 4.3% from 8.4% in the prior year [15] Business Line Data and Key Metrics Changes - Malibu and Axis represented approximately 46.4% of unit sales, saltwater fishing represented 25.5%, and Cobalt made up the remaining 28.1% [12] - The decrease in net sales was driven by decreased unit volumes across all segments, with Malibu segment facing unfavorable model mix [12][15] Market Data and Key Metrics Changes - The broader industry is experiencing a modest overhang on non-current inventory, but the company maintains a healthy inventory position for model year 2026 boats [9][11] - The company expects the market to decline in the range of mid to high single digits for the fiscal year, with sales expected to be flat to down mid-single digits year-over-year [17] Company Strategy and Development Direction - The company is focused on customer-driven innovation, operational excellence, and disciplined capital allocation to drive long-term growth [6][8] - The introduction of new models and partnerships is central to the company's strategy, with plans to showcase new products at the Miami International Boat Show [6][8] - The company is also expanding its marine components business and centralized sourcing initiatives to improve efficiency and reduce costs [10][11] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the retail environment, noting a successful year-end sales event and strong customer response to new models [5][11] - The company is closely monitoring market conditions and is prepared to scale production in line with retail demand if necessary [18] - Management expects to see benefits from centralized sourcing and operational improvements in the latter part of the fiscal year [44] Other Important Information - The company generated $8.4 million of free cash flow during Q2, with $20.8 million of share repurchases completed during the quarter [16] - The company anticipates Adjusted EBITDA margins of approximately 8.5% for Q3 and expects to maintain operational discipline despite market challenges [17][18] Q&A Session Summary Question: Impact of higher boat show expenses on EBITDA margin - Management indicated that higher boat show expenses contributed about 50 basis points of cost pressure for the quarter [21][22] Question: Inventory levels compared to the industry - Management noted that while the industry has pockets of elevated inventory, their inventory position is healthy and well-managed [23] Question: MBI Acceptance program rollout and its impact - Early feedback from dealers on the MBI Acceptance program has been positive, with some increase in traffic and sales at boat shows [27] Question: Centralized sourcing initiatives and cost savings - Management expects significant benefits from centralized sourcing efforts to impact margins positively in the latter part of the fiscal year [28] Question: Dealer sentiment and inventory management - Dealer feedback has been mixed but generally positive, with additional orders resulting from successful boat shows [32] Question: Outlook for labor costs - Management anticipates that operational effectiveness and centralized sourcing will help manage labor costs moving forward [36] Question: Competitive landscape in the ski and wake category - Management acknowledged ongoing efforts to stimulate growth in the ski/wake segment, collaborating with industry peers [39][40] Question: Confidence in EBITDA margin guidance for Q3 - Management outlined expectations for sequential growth, fixed-cost leverage, and reduced promotional spending as key drivers for margin growth [43][44]

Core Insights - Malibu Boats (MBUU) reported a quarterly loss of $0.02 per share, better than the Zacks Consensus Estimate of a loss of $0.03, and a significant decline from earnings of $0.31 per share a year ago, representing an earnings surprise of +20.00% [1] - The company achieved revenues of $188.62 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 1.22%, although this is a decrease from year-ago revenues of $200.28 million [2] - Malibu Boats has outperformed the S&P 500, with shares increasing by approximately 22.7% since the beginning of the year compared to the S&P 500's gain of 0.5% [3] Earnings Outlook - The future performance of Malibu Boats' stock will largely depend on management's commentary during the earnings call and the company's earnings outlook, including current consensus earnings expectations for upcoming quarters [4] - The current consensus EPS estimate for the next quarter is $0.68 on revenues of $215.43 million, and for the current fiscal year, it is $1.13 on revenues of $789.65 million [7] Industry Context - The Leisure and Recreation Products industry, to which Malibu Boats belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors or through tools like the Zacks Rank [5]