Financial Performance - Net sales for the three months ended December 31, 2024, were $200.28 million, a decrease of 5.4% compared to $211.07 million for the same period in 2023[13]. - Gross profit for the six months ended December 31, 2024, was $65.63 million, down 30.4% from $94.27 million in the same period of 2023[13]. - Operating income for the three months ended December 31, 2024, was $3.18 million, a significant decline from $14.71 million in the same period of 2023[13]. - Net income attributable to Malibu Boats, Inc. for the three months ended December 31, 2024, was $2.36 million, compared to $9.88 million for the same period in 2023, representing a decrease of 76.1%[13]. - The company reported a comprehensive loss of $0.36 million for the three months ended December 31, 2024, compared to a comprehensive income of $11.57 million for the same period in 2023[13]. - The net loss for the six months ended December 31, 2024, was $2,726,000, compared to a net income of $30,914,000 for the same period in 2023[23]. - Adjusted EBITDA for the six months ended December 31, 2024, was $26.8 million, compared to $61.9 million for the same period in 2023[152]. - Basic net income per share for the three months ended December 31, 2024, was $0.12, a decrease from $0.49 in the same period of 2023[83]. - Diluted net income per share for the three months ended December 31, 2024, was also $0.12, compared to $0.49 for the same period in 2023[83]. Assets and Liabilities - Total current assets increased to $206.45 million as of December 31, 2024, compared to $202.13 million as of June 30, 2024[15]. - Total liabilities increased to $224.27 million as of December 31, 2024, from $204.91 million as of June 30, 2024[15]. - Cash balance as of December 31, 2024, was $35.12 million, an increase from $26.95 million as of June 30, 2024[15]. - The total stockholders' equity as of December 31, 2024, was $514,402,000[18]. - Outstanding debt as of December 31, 2024, was $23,000, with no term loan outstanding[49]. - The revolving credit facility has $325,272 available for borrowing as of December 31, 2024, with an interest rate of 7.75%[50][52]. Sales and Revenue Breakdown - Boat and trailer sales for the six months ended December 31, 2024, totaled $361.7 million, down from $456.9 million in the prior year, reflecting a decline of 20.8%[31]. - North America accounted for $190.6 million of consolidated net sales for the three months ended December 31, 2024, representing 95.2% of total sales[31]. - The company’s international sales for the three months ended December 31, 2024, were $9.7 million, accounting for 4.8% of total net sales[31]. - The Malibu segment reported net sales of $74.1 million for the three months ended December 31, 2024, down from $76.4 million in the same period of 2023[101]. - The Saltwater Fishing segment's net sales decreased to $70.2 million in Q4 2024 from $82.7 million in Q4 2023, representing a decline of 15.1%[101]. - The Cobalt segment achieved net sales of $56.0 million for the three months ended December 31, 2024, compared to $52.0 million in the same period of 2023, marking an increase of 7.4%[101]. Expenses and Costs - Non-cash compensation expense increased to $4,033,000 in 2024 from $1,323,000 in 2023[23]. - Depreciation expenses rose to $15,198,000 in 2024, up from $12,667,000 in 2023[23]. - General and administrative expenses increased by $11.1 million, or 71.9%, to $26.5 million for the three months ended December 31, 2024[133]. - General and administrative expenses increased by $17.6 million, or 48.8%, to $53.8 million for the six months ended December 31, 2024, primarily due to legal settlements and increased compensation expenses[145]. - Cost of sales for the three months ended December 31, 2024, decreased by $10.7 million, or 6.2%, to $162.9 million compared to the same period in 2023[131]. - Gross profit decreased by $28.6 million, or 30.4%, to $65.6 million for the six months ended December 31, 2024, with gross margin decreasing from 20.2% to 17.6%[144]. Legal and Compliance Matters - The company is involved in multiple legal proceedings, including a securities class action alleging violations of the Securities Exchange Act of 1934[95][96]. - The company entered into a Settlement Agreement to pay $3.5 million to the Tommy's Boats estate, contingent upon certain conditions being met[94]. - The company maintains liability insurance with coverage up to $26,000 related to the Batchelder Matters, having received approximately $21,000 in insurance proceeds as of December 31, 2024[93]. - The company continues to pursue claims against insurance carriers to recover the full $100,000 settlement amount related to the Batchelder Matters[93]. Future Outlook and Strategy - Malibu Boats, Inc. continues to face challenges including increased costs and reliance on third-party suppliers, impacting future performance expectations[10]. - The company anticipates a continued decline in the retail market for fiscal 2025 due to high dealer flooring costs and a soft retail environment[112]. - The company aims to increase market share through new product development and improved distribution despite facing aggressive competition in the industry[113]. - The company has over 400 dealer locations globally, with one dealer, OneWater Marine, representing more than 10% of consolidated net sales in fiscal year 2024[109]. Stock and Shareholder Information - The company repurchased and retired Class A Common Stock amounting to $20,199,000 during the six months ended December 31, 2024[23]. - As of December 31, 2024, Malibu Boats had $50.0 million available for share repurchases under the 2024 Repurchase Program[35]. - The company has authorized a stock repurchase program for up to $100.0 million of its Class A Common Stock and LLC Units from November 8, 2023, to November 8, 2024[171]. - The company repurchased 240,981 shares of Class A Common Stock for $10.1 million during the three months ended December 31, 2024[170].

MALIBU BOATS, INC." Malibu Boats, Inc. Second Quarter Fiscal 2025 Earnings Results January 30, 2025 USE & DEFINITION OF NON-GAAP FINANCIAL MEASURE This presentation includes the following financial measures defined as non-GHAP financial measures by the Securities and Exchange Commission: Adjusted EBITDA , Adjusted EBI Fully Distributed Net (Loss) Income and Adiusted Fully Distributed Net (Lass) Income ver Share. These measures have linitations as and tructures on and structured as an alt more meaningflul th ...

Financial Performance - Net sales for Q2 FY2025 decreased by 5.1% to $200.3 million compared to Q2 FY2024[4] - Unit volume for Q2 FY2025 decreased by 11.0% to 1,222 units compared to Q2 FY2024[4] - GAAP net income for Q2 FY2025 decreased by 76.1% to $2.4 million compared to $10.1 million in Q2 FY2024[4] - Adjusted EBITDA for Q2 FY2025 decreased by 26.3% to $16.9 million compared to $22.9 million in Q2 FY2024[4] - Operating income for Q2 FY2025 decreased to $3.2 million from $14.7 million in Q2 FY2024[13] - Net income for the three months ended December 31, 2024, was $2,421,000, compared to $10,144,000 for the same period in 2023, reflecting a decrease of 76.1%[32] - Adjusted EBITDA for the six months ended December 31, 2024, was $26,785,000, down 56.8% from $61,918,000 in the prior year[32] - The net income margin for the six months ended December 31, 2024, was (0.7)%, down from 6.6% in 2023[32] Sales and Revenue - Net sales attributable to the Saltwater Fishing segment decreased by 15.2% to $70.2 million in Q2 FY2025[7] - Net sales per unit for the Malibu segment increased by 12.0% to $141,141 per unit in Q2 FY2025[9] - Net sales for the three months ended December 31, 2024, were $200,280,000, a decrease from $211,074,000 in the same period of 2023, representing a decline of about 5%[28] - Net sales for the three months ended December 31, 2024, were $200,280,000, a decrease of 5.8% compared to $211,074,000 in 2023[32] Expenses and Costs - General and administrative expenses increased by 71.9% to $26.5 million in Q2 FY2025 compared to Q2 FY2024[12] - The company reported a litigation settlement expense of $3,500,000 for the six months ended December 31, 2024[32] - The company incurred professional fees of $2,035,000 for the three months ended December 31, 2024, compared to $290,000 in the same period of 2023[36] Guidance and Outlook - Full-year guidance for FY2025 anticipates net sales to be flat to down low single digits year-over-year[14] - The company anticipates ramping up production in the third fiscal quarter of 2025, indicating a positive outlook for future performance[24] Assets and Cash Position - Total assets as of December 31, 2024, were $738,676,000, slightly down from $739,624,000 as of June 30, 2024[29] - Cash increased to $35,118,000 as of December 31, 2024, from $26,945,000 as of June 30, 2024, reflecting an increase of approximately 30%[30] Risks and Legal Matters - The company faces risks including reliance on third-party suppliers and potential disruptions in operations, which could impact future performance[25] - The company is awaiting a decision from the Bankruptcy Court regarding claims related to Tommy's Boats, which may impact future financial obligations[33]

Core Viewpoint - Malibu Boats, Inc. reported a challenging second quarter for fiscal 2025, with decreased net sales and unit volumes, prompting adjustments in production levels and full-year guidance due to weaker retail market trends [3][17]. Financial Performance - Net sales for the three months ended December 31, 2024, decreased by $10.8 million, or 5.1%, to $200.3 million compared to the same period in 2023 [5][6]. - Unit volume decreased by 151 units, or 11.0%, to 1,222 units for the same period [5][6]. - Gross profit for the quarter was $37.4 million, a slight decrease of 0.2% from $37.5 million in the prior year [4][13]. - Net income decreased by 76.1% to $2.4 million, with a net income margin of 1.2%, down from 4.8% [4][16]. - Adjusted EBITDA fell by 26.3% to $16.9 million, with an adjusted EBITDA margin of 8.4%, down from 10.9% [4][16]. Segment Performance - Net sales in the Malibu segment decreased by $2.3 million, or 3.0%, to $74.1 million, with unit volumes down by 81 units [8]. - The Saltwater Fishing segment saw a more significant decline, with net sales down $12.6 million, or 15.2%, to $70.2 million, and unit volumes decreased by 88 units [9]. - Conversely, the Cobalt segment experienced growth, with net sales increasing by $4.1 million, or 7.8%, to $56.0 million, driven by higher unit volumes [10]. Cost and Expense Analysis - Cost of sales decreased by $10.7 million, or 6.2%, to $162.9 million, primarily due to lower unit volumes [12]. - Selling and marketing expenses increased by 6.7% to $6.0 million, while general and administrative expenses surged by 71.9% to $26.5 million, largely due to legal fees and incentive pay [14][15]. Guidance and Future Outlook - For the full fiscal year 2025, Malibu anticipates net sales to be flat to down low single digits year-over-year, with an adjusted EBITDA margin of approximately 10% [17].

The Zacks Leisure and Recreation Products industry faces challenges due to high inflation, uncertainty surrounding the Federal Reserve’s future rate cut plans and a decline in consumer confidence. However, a positive fitness product sales trend, driven by growing health and fitness awareness, bodes well for the industry. Industry participants who design, market, retail and distribute products for the outdoor and recreation market are witnessing solid demand. Stocks like Amer Sports, Inc. (AS) , Pool Corpora ...

Investors in Malibu Boats, Inc. (MBUU) need to pay close attention to the stock based on moves in the options market lately. That is because the Feb 21, 2025 $17.50 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could al ...

Malibu Boats (MBUU) has been on a downward spiral lately with significant selling pressure. After declining 5.2% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a sto ...

LOUDON, Tenn., Jan. 16, 2025 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU) announced today that it will release its second quarter fiscal 2025 financial results on Thursday, January 30, 2025, 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 Chief Executive Officer, Steve Menneto, and Chief Financial Officer, Bruce Beckman. Investors and analysts ar ...

LOUDON, Tenn., Nov. 29, 2024 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU) announced today that Ritchie Anderson, President, will retire effective February 7, 2025. He will continue in his role as President until that date. Upon Mr. Anderson’s retirement, Steve Menneto, the Company’s Chief Executive Officer, will become President of Malibu Boats, Inc., with Donna Tallent, Senior Vice President of Operations, assuming leadership for MBI operations. Both Ms. Tallent and the Brand Presidents will repor ...

After reaching an important support level, Malibu Boats (MBUU) could be a good stock pick from a technical perspective. MBUU surpassed resistance at the 50-day moving average, suggesting a short-term bullish trend.The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend.MBUU could be on the ...