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 ...

Core Viewpoint - Malibu Boats, Inc. (MBUU) is expected to report a significant decline in both earnings and net sales for the fourth quarter of fiscal 2024, with a challenging retail environment impacting performance [1][2][3]. Financial Performance - In the last reported quarter, MBUU's earnings exceeded the Zacks Consensus Estimate by 37%, while net sales fell short by 1.2%, with year-over-year declines of 45.8% in sales and 75.7% in earnings [1]. - The Zacks Consensus Estimate for the fiscal fourth-quarter loss per share has widened to 31 cents from 29 cents, indicating a 110.4% decline from the prior-year quarter [2]. - The estimated net sales for the fourth quarter is projected at $155.4 million, reflecting a 58.3% decrease from $372.3 million reported in the same quarter last year [2]. Segment Performance - The expected net sales for Malibu, Saltwater Fishing, and Cobalt segments are $45.5 million, $67.2 million, and $50.4 million, respectively, down from $160.3 million, $128.7 million, and $83.3 million reported a year ago [4]. Factors Influencing Performance - The decline in MBUU's top line is attributed to reduced unit volumes across all segments, decreased wholesale shipments, and increased dealer flooring program costs, compounded by a weakened retail demand environment [3][5]. - The ongoing inflationary environment is expected to negatively impact the bottom line due to lower net sales and associated costs, with margins affected by fixed-cost deleverage [5]. Earnings Prediction - The Zacks model indicates that MBUU is not expected to achieve an earnings beat this quarter, lacking the necessary combination of a positive Earnings ESP and a favorable Zacks Rank [6]. - Currently, MBUU holds a Zacks Rank of 5 (Strong Sell) [7].

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, ...

Core Viewpoint - Malibu Boats has launched the redesigned 2025 Malibu Wakesetter 25 LSV, featuring advanced technology, luxury, and performance aimed at enhancing the watersports experience [1][2][9] Product Features - The 2025 Malibu Wakesetter 25 LSV features a completely redesigned hull that is deeper, allowing for more ballast and under-seat storage, while providing a smoother ride in choppy conditions [3][4] - The boat accommodates up to eighteen people with ample lounge seating, including the innovative optional Natalie Seat™ for added comfort [4] - Malibu's optional Max-Relax Sundeck Loungers™ and Max Pivot Seat™ enhance social interactions on the water, providing versatile seating arrangements [5][6] Technology Innovations - The new Malibu Command Center™ includes a 15.8" ultra-high-pixel-density touchscreen display for improved visibility and functionality, alongside an 8" secondary display for deeper customization [10][11] - The 2025 model lineup features a new Operating System (mOS) that offers customizable graphics, driver profiles, and easy control of key features like lighting and Malibu's Surf Gate® [12] - The G10+ Tower, introduced in 2024, includes built-in RGB lighting, overhead lights, and a fully electric Power Tower feature for convenience [7] Performance Enhancements - The 25 LSV is designed for optimal rider experience with customizable wakes and waves through model-specific ballast placement and the Power Wedge® III system [8] - The Malibu Command Center allows for quick adjustments to wave settings, enhancing the surfing experience for users of all skill levels [12] Additional Features - Malibu Boats introduces an Aquatic Invasive Species (AIS) ballast flush system, allowing for easy maintenance of the ballast system [15] - A new online consumer boat builder tool has been launched, enabling users to customize their boats extensively [17] Company Overview - Malibu Boats, Inc. is a leading designer and manufacturer of recreational powerboat brands, known for its innovation in the watersports industry [18]

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 ...

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Malibu Boats, Inc. (NASDAQ: MBUU) between November 4, 2022 and April 11, 2024, both dates inclusive (the "Class Period"), of the important June 28, 2024 lead plaintiff deadline. DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Malibu Boats engaged in an "elaborate scheme to over manufacture and pump nearly ...

WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material informat ...

NEW YORK, June 26, 2024 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Malibu Boats, Inc. (NASDAQ: MBUU) between November 4, 2022 and April 11, 2024, both dates inclusive (the "Class Period"), of the important June 28, 2024 lead plaintiff deadline. So what: If you purchased Malibu Boats securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. Wh ...

The deadline to ask the court to be appointed lead plaintiff in the case is June 28, 2024. Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021 and 2022, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud ...