Financial Data and Key Metrics Changes - For Q4 2024, net sales decreased 57.4% to $158.7 million, and unit volume decreased 59% to 1,045 boats, primarily due to lower production and higher promotional spending [14] - For the full fiscal year 2024, net sales decreased 40.3% to $829.0 million, and unit volumes decreased 45.4% to 5,385 units [17] - Adjusted EBITDA for Q4 decreased 104.5% to a loss of $4.1 million, with an adjusted EBITDA margin decreasing to negative 2.6% from positive 24.2% [16] - The net loss for Q4 increased 8.6% to a loss of $19.6 million, while net income for the year decreased 152.3% to a net loss of $56.4 million [16][17] Business Line Data and Key Metrics Changes - Malibu and Axis brands represented approximately 30.5% of unit sales, Cobalt represented 35.4%, and saltwater fishing represented the remaining 34.1% [14] - Consolidated net sales per unit increased 4% to $151,878 per unit, driven by favorable model mix and year-over-year price increases [15] - Cobalt's market share in the sterndrive segment expanded by over 300 basis points, and Pursuit's market share increased by nearly 300 basis points since acquisition [11][12] Market Data and Key Metrics Changes - Dealer inventories were aligned with historical levels by the end of Q4, having been previously four to five weeks too high [10][48] - The company expects dealer inventories to contract by approximately 15% as dealers aim to reduce their inventory levels due to high flooring costs [33][48] Company Strategy and Development Direction - The company is focused on reducing channel inventories and has made significant progress in aligning dealer inventories with historical levels [7][10] - The new CEO, Steve Menneto, emphasizes a customer-centric approach and plans to leverage competitive strengths while maintaining a focus on innovation and operational excellence [25][30] - The company anticipates capital expenditures to drop to between $30 million to $35 million in fiscal 2025, improving cash generation and enabling continued shareholder returns [20] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that near-term market conditions will remain challenging but expresses optimism about long-term growth potential as channel inventory levels normalize [18][30] - The company expects a low single-digit percentage increase in net sales for fiscal year 2025, with adjusted EBITDA margins anticipated to range from 10% to 12% [20] Other Important Information - The company repurchased $10 million of stock in Q4 and paid off all remaining debt, demonstrating strong capital allocation priorities [9][18] - The Roan County facility is now complete, consolidating manufacturing operations and increasing operational efficiencies [9][10] Q&A Session Summary Question: Comparison of dealer dynamics with power sports - The CEO noted similarities and differences in inventory management between the boating and power sports industries, emphasizing the need to match inventory to retail demand [31][32] Question: Retail assumptions for fiscal 2025 guidance - Management expects mid-single-digit market headwinds and anticipates dealer inventories to contract below historical levels [33][34] Question: Growth expectations for fiscal 2025 - Management indicated that growth would come from lapping easier comparisons later in the year, with cautious production levels maintained [38] Question: Acquisition strategy and focus - The CEO confirmed that the company is open to pursuing beneficial acquisitions, including potential opportunities in the pontoon sector [39] Question: Addressing affordability concerns - Management has focused on maintaining competitive pricing and driving efficiencies to keep prices lower than competitors [42] Question: Update on Tommy's boat repurchase - The company confirmed the repurchase of 19 units, which was significantly lower than initial estimates [45] Question: Update on dealer inventories - Management reported that dealer inventories were aligned with historical trends by the end of Q4, with expectations for further reductions [48] Question: EBITDA margin expectations - Management discussed the historical context for achieving mid-teen EBITDA margins and the revenue levels needed to reach those targets [52] Question: Consumer behavior trends - Management has not observed significant changes in purchasing trends between cash and finance, but expects a rebalancing once interest rates decrease [53]

Malibu Boats (MBUU) came out with a quarterly loss of $0.39 per share versus the Zacks Consensus Estimate of a loss of $0.31. This compares to earnings of $2.98 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -25.81%. A quarter ago, it was expected that this maker of performance sports boats would post earnings of $0.46 per share when it actually produced earnings of $0.63, delivering a surprise of 36.96%. Over the last four q ...

Table of Contents Delaware Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, par value $0.01 MBUU Nasdaq Global Select Market UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2024 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition pe ...

Exhibit 99.1 MALIBU BOATS, INC. ANNOUNCES FOURTH QUARTER FISCAL 2024 RESULTS Loudon, TN - August 29, 2024 - Malibu Boats, Inc. (Nasdaq: MBUU) today announced its financial results for the fourth quarter and fiscal year ended June 30, 2024. Fourth Quarter Fiscal 2024 Highlights Compared to Fourth Quarter Fiscal 2023 • Net sales decreased 57.4% to $158.7 million • Unit volume decreased 59.0% to 1,045 units • Gross profit decreased 87.8% to $12.5 million • General and administrative expenses decreased to $21.6 ...

LOUDON, Tenn., Aug. 29, 2024 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU) today announced its financial results for the fourth quarter and fiscal year ended June 30, 2024. Three Months Ended June 30, Fiscal Year Ended June 30, 2024 2023 2024 2023 (In thousands, except unit and per unit data) Net Sales $ 158,712 $ 372,303 $ 829,035 $ 1,388,365 Gross Profit $ 12,493 $ 102,462 $ 147,095 $ 351,295 Gross Profit Margin 7.9 % 27.5 % 17.7 % 25.3 % Fourth Quarter Fiscal 2024 Highlights Compared to Fourth Qu ...

Malibu Boats, Inc. (MBUU) is scheduled to report fourth-quarter fiscal 2024 results on Aug. 29, before market open. In the last reported quarter, MBUU's earnings topped the Zacks Consensus Estimate by 37%, while net sales missed the same by 1.2%. The top and bottom lines declined year over year by 45.8% and 75.7%, respectively. Malibu Boats' earnings topped the consensus mark in each of the four trailing quarters, the average surprise being 25.6%. MBUU's Trend in Estimate Revision The Zacks Consensus Estima ...

LOUDON, Tenn., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU) announced today that it will release its fourth quarter and full-year fiscal 2024 financial results on Thursday, August 29, 2024, 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, Chief Financial Officer, Bruce Beckman, and Board Chair, ...

LOUDON, Tenn., Aug. 09, 2024 (GLOBE NEWSWIRE) -- Malibu Boats™, the worldwide leader in the towed watersports industry, is proud to announce the launch of the redesigned Malibu Wakesetter 25 LSV, alongside the all-new Malibu Command Center™ and a brand new, state-of-the-art boat builder tool for the 2025 model year. The New 25 LSV The completely new 2025 Malibu Wakesetter 25 LSV is set to redefine the watersports towboat experience thanks to its combination of unparalleled luxury, advanced technology, and t ...

LOUDON, Tenn., July 22, 2024 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (NASDAQ:MBUU) today announced the appointment of Steven D. Menneto as its new Chief Executive Officer ("CEO"), effective August 5, 2024. Mr. Menneto will also join Malibu Boats' Board of Directors (the "Board"), which will increase from nine to ten members. In connection with Mr. Menneto's appointment, the Office of the CEO, consisting of Ritchie Anderson, the Company's President, as well as Michael K. Hooks, the Chair of the Board, will en ...

NEW YORK, July 01, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Malibu Boats, Inc. (NASDAQ: MBUU) on behalf of long-term stockholders following a class action complaint that was filed against Malibu Boats on April 29, 2024 with a Class Period from November 4, 2022 to April 11, 2024. Our investigation concerns whether the board of directors of Malibu Boats have breached their fiduciary duties to the compan ...