Financial Data and Key Metrics Changes - For Q2 2025, net sales were $63.4 million, a decrease of $26.4 million or 29% compared to the prior year period, primarily due to planned lower volume and unfavorable model mix [24] - Gross margin decreased to 17.2% from 23.3% in the prior year, attributed to lower cost absorption from the production decrease [24] - Adjusted net income for the quarter was $1.7 million, or $0.10 per diluted share, down from $9.5 million, or $0.55 per diluted share in the prior year [26] - Adjusted EBITDA was $3.5 million, compared to $12.9 million in the prior year, with an adjusted EBITDA margin of 5.6% compared to 14.4% [26] - The company ended the quarter with nearly $63 million in cash and short-term investments, with no debt [27] Business Line Data and Key Metrics Changes - The MasterCraft segment performed well at various boat shows, with strong demand for the newly launched XStar product line, which is expected to drive significant earnings and free cash flow in the second half [13][16] - The Pontoon segment faced softening retail due to higher interest rates, leading to elevated aged inventory levels, but pipeline management has been a key focus [19] - Early boat show results for the Crest brand were mixed, but there was encouraging performance at the Minneapolis and Chicago shows [20] Market Data and Key Metrics Changes - Dealer inventories were reduced by more than 30% year-over-year, reflecting aggressive inventory management [10] - The overall retail environment showed mixed economic conditions and geopolitical uncertainty, impacting typical second quarter seasonality [10] - The company expects retail to be down between 5% and 10% for the year, consistent with year-to-date performance [56] Company Strategy and Development Direction - The company is focused on destocking filled inventories and has narrowed its full-year guidance range due to strong second-quarter performance and the promising launch of the XStar product line [9][30] - The strategy includes investing in consumer-centric brands and maintaining a flexible operating model to mitigate risks [8] - The company aims to capitalize on market recovery by improving distribution and expanding geographic coverage [50] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about retail trends despite ongoing macroeconomic uncertainty, noting improving dealer health as the summer selling season approaches [32] - The company is positioned well for sustained long-term success, with a strong balance sheet and robust cash flow generation [32] - Management highlighted the importance of monitoring trade dynamics and their potential impact on retail customer sentiment [12] Other Important Information - The sale of the Merritt Island facility closed as expected, generating over $26 million in net cash proceeds, enhancing financial flexibility [21] - The company has spent nearly $750,000 to repurchase approximately 40,000 shares of common stock during the quarter [28] Q&A Session Summary Question: Update on channel inventory progress - Management indicated modest channel increases in Q2, with expectations to end the year within the targeted range of 600 to 1,000 boats [35][36] Question: ASP decline for MasterCraft - Management noted a mixed issue with pricing adjustments on certain models to address affordability, expecting a better mix with the ramp-up of XStar production [37][39] Question: Strategic growth initiatives - Management emphasized a focus on executing within brands, improving distribution, and maintaining a strong balance sheet while returning capital to shareholders [42][46] Question: Industry retail assumptions and consumer sentiment - Management confirmed expectations of a 5% to 10% decline in retail, with positive demand for the XStar despite economic challenges [56][58] Question: Competitor performance and dealer inventories - Management believes they have had a more successful boat show season than competitors, with ongoing discounting in a tough market [65][66]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: December 29, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37502 MASTERCRAFT BOAT HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction (I.R.S. Emplo ...

Core Viewpoint - MasterCraft Boat Holdings, Inc. reported quarterly earnings of $0.10 per share, exceeding the Zacks Consensus Estimate of a loss of $0.01 per share, representing an earnings surprise of 1,100% [1] - The company has consistently surpassed consensus EPS estimates over the last four quarters [2] Financial Performance - MasterCraft reported revenues of $63.37 million for the quarter ended December 2024, which is 3.37% above the Zacks Consensus Estimate, but down from $99.48 million year-over-year [2] - The current consensus EPS estimate for the upcoming quarter is $0.26 on revenues of $79.5 million, and for the current fiscal year, it is $0.69 on revenues of $288.45 million [7] Market Performance - Shares of MasterCraft have declined approximately 4.3% since the beginning of the year, contrasting with the S&P 500's gain of 3.1% [3] - The company's stock is currently rated Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Outlook - The Leisure and Recreation Products industry, to which MasterCraft belongs, is currently ranked in the bottom 29% of over 250 Zacks industries, suggesting potential challenges ahead [8] - The performance of MasterCraft's stock may be influenced by the overall outlook for the industry [8]

Fiscal Second Quarter 2025 Results February 6, 2025 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward- looking statements generally relate to future events and include, without limitation, projections, forecasts and estimates about possible or assumed future results of the Company's business, financial condition, liquidity, results of operations, plans and o ...

Financial Performance - Consolidated net sales for Q2 fiscal 2025 were $63.4 million, a decrease of $26.4 million or 29.4% compared to Q2 fiscal 2024[4] - Income from continuing operations was $0.4 million, or $0.03 per diluted share, down from $8.7 million, or $0.51 per diluted share in the prior-year period[6] - Adjusted EBITDA for Q2 fiscal 2025 was $3.5 million, down $9.4 million from $12.9 million in the prior-year period, with an adjusted EBITDA margin of 5.6% compared to 14.4%[7] - Full year fiscal 2025 consolidated net sales guidance is now expected to be between $275 million and $295 million, with Adjusted EBITDA between $19 million and $24 million[10] - For Q3 fiscal 2025, consolidated net sales are expected to be approximately $75 million, with Adjusted EBITDA of approximately $5 million[10] - Net sales for MasterCraft decreased by 24.2% to $55,097 million compared to $72,699 million in the same period last year[22] - Adjusted EBITDA for the three months ended December 29, 2024, was $3,526 million, representing a margin of 5.6%[30] - Adjusted Net Income for the three months ended December 29, 2024, was $1,687 million, down from $9,469 million in the prior year[30] - Income from continuing operations per diluted share for Q4 2024 was $0.03, a decrease of 94% compared to $0.51 in Q4 2023[31] - Adjusted Net Income per diluted share for Q4 2024 was $0.10, down 81.8% from $0.55 in Q4 2023[31] - For the six months ended December 29, 2024, income from continuing operations per diluted share was $0.09, a decline of 91% from $1.00 in the same period of 2023[31] - Adjusted Net Income per diluted share for the six months ended December 29, 2024 was $0.22, a decrease of 80.9% compared to $1.15 in the prior year[31] Cash Flow and Assets - The company generated $13.9 million in cash flow from continuing operations despite low cycle production volumes, maintaining a strong balance sheet with $62.9 million in cash and investments[3] - Cash and cash equivalents increased significantly from $7,394 million to $34,314 million[21] - Total current assets decreased from $155,074 million to $111,729 million, a decline of 28%[21] - Total liabilities decreased from $134,105 million to $71,609 million, a reduction of 47%[21] Operational Changes - The company has completed the dispositions of the Aviara brand and facility assets, contributing to a more focused operational strategy[4] - The company plans to continue its share repurchase program while pursuing strategic growth initiatives[3] - The launch of the new ultra-premium XStar lineup has generated strong demand, providing positive momentum heading into the summer selling season[3] - Gross margin percentage declined by 610 basis points due to unfavorable model mix and lower cost absorption from decreased production volume[5] - Consolidated unit sales volume dropped by 35.4% year-over-year, from 856 units to 553 units for the three months ended December 29, 2024[22] - Gross margin fell from 23.3% to 17.2%, a decrease of 610 basis points[22] Tax and Compensation - The impact of income tax expense on adjusted net income per diluted share was $(0.03) for Q4 2024 and $(0.07) for the six months ended December 29, 2024[31] - Share-based compensation contributed $0.05 to adjusted net income per diluted share in Q4 2024[31] - The income tax rate for fiscal 2025 and 2024 was 20.0% for each period presented[32] Strategic Focus - The company is focused on strategic organizational realignment as part of its ongoing transition efforts[31] - The company does not provide forward-looking guidance for certain financial measures on a GAAP basis due to unpredictability of certain items[28] - The weighted average shares used for the computation of diluted earnings per share were consistent across all periods presented[32]

VONORE, Tenn., Feb. 06, 2025 (GLOBE NEWSWIRE) -- MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) today announced financial results for its fiscal 2025 second quarter ended December 29, 2024. The overview, commentary, and results provided herein relate to our continuing operations, which exclude our former Aviara segment. Overview: Net sales for the second quarter were $63.4 million, down $26.4 million, or 29.4%, from the comparable prior-year periodPlanned decrease in production contributed to significantly ...

MasterCraft Boat Holdings, Inc. (MCFT) is scheduled to report fiscal second-quarter 2025 results on Feb. 6. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by 300%.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Trend in MCFT’s Estimate RevisionFor the quarter to be reported, the Zacks Consensus Estimate for earnings is pegged as break-even. In the last quarter, the company reported adjusted earnings per share of 37 cents. In the past seve ...

Company Overview - MasterCraft Boat Holdings, Inc (NASDAQ: MCFT) is a boat manufacturer selling brands such as MasterCraft, Crest, and Balise [1] Industry Trends - The boat manufacturing industry has shown weakness recently [1] - Dealers have lowered inventory levels [1] - Retail demand for boats has remained subdued [1] Investment Methodology - The author focuses on small cap companies in US, Canadian, and European markets [1] - Investment philosophy centers on identifying mispriced securities through understanding financial drivers [1] - Utilizes DCF model valuation to assess stock prospects and risk-reward profile [1] - Approach incorporates elements of value, dividend, and growth investing [1]

Earnings Webcast Details - MasterCraft Boat Holdings Inc will host a live webcast for its fiscal second quarter 2025 earnings conference call on February 6 2025 at 8:30 am EST [1] - The webcast will feature Brad Nelson CEO and Tim Oxley CFO discussing the company's financial results [1] - A pre-market earnings release will be issued prior to the call on February 6 2025 [1] Webcast Access Information - Participants can access the live webcast on the investor section of the company's website InvestorsMasterCraftcom [2] - Telephone participation requires advance registration with a confirmation email providing dial-in number unique passcode and registrant ID [2] - A replay of the conference call and webcast will be archived on the company's website [2] Company Overview - MasterCraft Boat Holdings Inc is headquartered in Vonore Tenn and is a leading innovator designer manufacturer and marketer of recreational powerboats [3] - The company operates through three brands: MasterCraft Crest and Balise [3] - Additional information about the company and its brands is available on their respective websites [3] Investor Contact Information - John Zelenak Manager of Treasury & Investor Relations can be contacted via email at investorrelations@MasterCraftcom [4]

Event and Product Launch - MasterCraft Boat Company will showcase its newly redesigned flagship model, the XStar, at the Barrett-Jackson Auction in Scottsdale, Arizona, from January 19-26, 2025 [1] - The XStar lineup includes both the iconic 23-foot design and an all-new 25-foot model, featuring groundbreaking updates [2] - The event will also mark the official kick-off of MasterCraft's new partnership with Chevrolet, with a Silverado HD 2500 displayed alongside the XStar models [1][3] Product Features and Innovations - The XStar lineup sets a new standard for power, performance, and luxury, with bold upgrades enhancing the boating experience [4] - Key features include the all-new MAAX (MasterCraft Aft Audio Experience) System, a redesigned helm, and the cutting-edge Z100 tower [4] - The XStar is powered by the Ilmor Supercharged 6.2L engine, delivering 630 horsepower and 665 lb-ft of torque, paired with the SurfStar system and a redesigned hull and ballast configuration [4] Marketing and Sales Strategy - MasterCraft will launch a nationwide roadshow featuring over 100 stops, showcasing the Silverado HD 2500 and XStar models together [3] - Representatives from MasterCraft and its dealer partner, Wolf Watersports, will be available at the event to assist consumers in starting the order process for the 2025 XStar models [5] Company Background - MasterCraft is a world-renowned innovator, designer, manufacturer, and marketer of premium performance sport boats, founded in 1968 [6] - MasterCraft Boat Holdings, Inc, headquartered in Vonore, TN, operates through its three brands: MasterCraft, Crest, and Balise, holding leading market share positions in performance sport boats and pontoon boats [7]