OWOSSO, Mich., April 23, 2024 (GLOBE NEWSWIRE) -- Crest Marine, LLC., a leader in the recreational powerboat industry and subsidiary of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT), today announced the expansion of its portfolio with the launch of an all-new, independent luxury pontoon brand, Balise Pontoon Boats ("Balise"). Balise was born from the singular mission to be the most luxurious and innovative pontoon boat on the market. The team behind Balise prioritized timeless artistry, sophisticated entert ...

VONORE, Tenn., April 19, 2024 (GLOBE NEWSWIRE) -- MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) (the "Company") will host a live webcast of its fiscal third quarter 2024 earnings conference call on Wednesday, May 8, 2024, at 8:30 a.m. EDT. Brad Nelson, Chief Executive Officer, Tim Oxley, Chief Financial Officer, and Bobby Potter, Vice President of Strategy and Investor Relations, will discuss the Company's financial results. The Company will issue a pre-market earnings release prior to the call on May 8, 20 ...

{ 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 31, 2023 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. Emp ...

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Q1 2024 Earnings Conference Call November 8, 2023 8:30 AM ET Company Participants Bobby Potter - Vice President-Strategy & Investor Relations Fred Brightbill - Chief Executive Officer & Chairman Tim Oxley - Chief Financial Officer Conference Call Participants Joe Altobello - Raymond James Eric Wold - B. Riley Securities Operator Good morning, and thank you for standing by. Welcome to the Fiscal First Quarter 2024 MasterCraft Boat Holdings Earnings Conference Cal ...

FISCAL FIRST QUARTER 2024 RESULTS $35.9 $12.2 $- $5 $10 $15 $20 $25 $30 $35 $40 Q1 FY23 Q1 FY24 This presentation includes certain non-GAAP financial measures, including EBITDA, Adjusted EBITDA, EBITDA Margin, Adjusted EBITDA Margin, Adjusted Net Income, and Adjusted Net Income Per Share. These non-GAAP financial measures should be considered only as supplemental to, and not as superior to, financial measures prepared in accordance with GAAP. Please refer to the Appendix of this presentation for a reconcili ...

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: October 1, 2023 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. Employe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 100 Cherokee Cove Drive, Vonore, TN 37885 (Address of Principal Executive Of ice) (Zip Code) (423) 884-2221 (Registrant's telephone number, including area code) For the transition period from to Securities re ...

FISCAL FOURTH QUARTER & 2023 RESULTS 1 5 FISCAL YEAR ADJUSTED NET INCOME RECONCILIATION indicated: 4) Represents the Weighted Average Shares used for the computation of Basic and Diluted earnings per share as presented on the Consolidated Statements of Operations to calculate Adjusted Net Income per diluted share for all periods presented herein. 1 6 FISCAL YEAR FREE CASH FLOW RECONCILIATION accordance with U.S. GAAP to free cash flow for the periods indicated: The following table sets forth a reconciliatio ...

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Q3 2023 Earnings Conference Call May 10, 2023 8:30 AM ET Company Participants Tim Oxley - Vice President, Chief Financial Officer, Treasurer and Secretary Fred Brightbill - Chairman and Chief Executive Officer George Steinbarger - Chief Revenue Officer Conference Call Participants Joe Altobello - Raymond James Craig Kennison - Baird Gerrick Johnson - BMO Capital Markets Noah Zatzkin - KeyBanc Capital Markets Operator Good day, and thank you for standing by. Welc ...

PART I FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company's unaudited consolidated financial statements for April 2, 2023, show mixed sales trends, increased net income from continuing operations for the nine-month period, and asset growth to **$338.3 million**, with strong operating cash flow of **$107.4 million** [Unaudited Condensed Consolidated Statements of Operations](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) Net sales for the three months ended April 2, 2023, decreased by **1.5%** to **$166.8 million**, while nine-month net sales increased by **11.5%** to **$495.5 million**, reflecting the impact of discontinued operations Consolidated Statements of Operations Highlights (in thousands, except per share amounts) | Metric | Three Months Ended April 2, 2023 | Three Months Ended April 3, 2022 | Nine Months Ended April 2, 2023 | Nine Months Ended April 3, 2022 | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $166,776 | $169,343 | $495,480 | $444,393 | | **Gross Profit** | $42,598 | $44,074 | $126,798 | $111,017 | | **Operating Income** | $29,026 | $31,604 | $87,709 | $71,603 | | **Net Income from Continuing Operations** | $22,782 | $24,306 | $67,400 | $54,397 | | **Loss from Discontinued Operations, Net of Tax** | $(272) | $(3,371) | $(21,139) | $(7,674) | | **Net Income** | $22,510 | $20,935 | $46,261 | $46,723 | | **Diluted EPS (Continuing Operations)** | $1.28 | $1.31 | $3.78 | $2.89 | [Unaudited Condensed Consolidated Balance Sheets](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$338.3 million** as of April 2, 2023, driven by investments in held-to-maturity securities, while total stockholders' equity significantly grew to **$176.1 million** Balance Sheet Highlights (in thousands) | Metric | April 2, 2023 | June 30, 2022 | | :--- | :--- | :--- | | Cash and cash equivalents | $27,453 | $34,203 | | Held-to-maturity securities | $73,914 | $0 | | Inventories, net | $55,268 | $58,595 | | **Total Assets** | **$338,274** | **$297,052** | | Total current liabilities | $102,991 | $93,172 | | Long-term debt, net | $50,391 | $53,676 | | **Total Liabilities** | **$162,127** | **$153,404** | | **Total Stockholders' Equity** | **$176,147** | **$143,648** | [Unaudited Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities for the nine months ended April 2, 2023, was **$107.4 million**, with significant cash used in investing activities for held-to-maturity securities and capital expenditures Cash Flow Summary (in thousands) | Activity | Nine Months Ended April 2, 2023 | Nine Months Ended April 3, 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $104,962 | $35,302 | | Net cash used in investing activities | $(92,881) | $(10,839) | | Net cash used in financing activities | $(18,831) | $(49,949) | | **Net Change in Cash and Cash Equivalents** | **$(6,750)** | **$(25,486)** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Key notes detail the **$22.5 million** loss from the NauticStar segment sale, **$73.9 million** in held-to-maturity securities, segment revenue breakdowns, and **$16.0 million** in stock repurchases - On September 2, 2022, the company sold its NauticStar business. The disposal is reported as discontinued operations, and a loss on sale of **$22.5 million** was recognized during the nine months ended April 2, 2023[27](index=27&type=chunk)[32](index=32&type=chunk)[35](index=35&type=chunk) - The company invested excess cash in short-term, investment-grade corporate bonds, classified as held-to-maturity. As of April 2, 2023, these investments totaled **$73.9 million** at amortized cost[37](index=37&type=chunk)[38](index=38&type=chunk) - As of April 2, 2023, the company had **$54.8 million** in term loan debt outstanding and full availability of its **$100.0 million** revolving credit facility[47](index=47&type=chunk)[53](index=53&type=chunk) - Under its stock repurchase program, the company bought back **625,794 shares** for **$16.0 million** during the nine months ended April 2, 2023. Approximately **$8.6 million** remained available for repurchase[66](index=66&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=18&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q3 net sales decrease due to mix and incentives, nine-month sales growth from pricing, gross margin trends, segment performance, strong operating cash flow of **$107.4 million**, and macroeconomic risks - The company completed the sale of its NauticStar business on September 2, 2022, and is reporting it as discontinued operations. All analysis is presented on a continuing operations basis[74](index=74&type=chunk) - Management notes that while wholesale performance has been strong as dealers replenish inventory, they expect future wholesale demand to align more closely with retail demand, which may be impacted by macroeconomic uncertainty[75](index=75&type=chunk)[76](index=76&type=chunk) Adjusted EBITDA Reconciliation (in thousands) | Metric | Three Months Ended April 2, 2023 | Three Months Ended April 3, 2022 | Nine Months Ended April 2, 2023 | Nine Months Ended April 3, 2022 | | :--- | :--- | :--- | :--- | :--- | | Net income from continuing operations | $22,782 | $24,306 | $67,400 | $54,397 | | **Adjusted EBITDA** | **$32,986** | **$35,005** | **$98,746** | **$82,959** | | Adjusted EBITDA Margin | 19.8% | 20.7% | 19.9% | 18.7% | Adjusted Net Income and Diluted EPS | Metric | Three Months Ended April 2, 2023 | Three Months Ended April 3, 2022 | Nine Months Ended April 2, 2023 | Nine Months Ended April 3, 2022 | | :--- | :--- | :--- | :--- | :--- | | **Adjusted Net Income** | $24,121 | $25,117 | $71,104 | $58,471 | | **Adjusted Net Income per Diluted Share** | $1.36 | $1.36 | $3.98 | $3.11 | [Results of Continuing Operations](index=19&type=section&id=Results%20of%20Continuing%20Operations) Q3 FY2023 consolidated net sales decreased **1.5%** to **$166.8 million** due to mix and incentives, while nine-month sales increased **11.5%** to **$495.5 million** primarily from pricing - Q3 net sales decrease was caused by changes in model mix, decreased sales volumes, and increased dealer incentives, partially offset by higher prices[80](index=80&type=chunk) - Nine-month net sales increase was driven by higher prices and increased options sales, partially offset by changes in model mix and increased dealer incentives[81](index=81&type=chunk) - Q3 gross margin decreased **50 bps** due to higher costs from inflation, mix changes, and higher dealer incentives, which were partially offset by price increases and improved production efficiencies[82](index=82&type=chunk) [Segment Results](index=21&type=section&id=Segment%20Results) Q3 FY2023 saw MasterCraft sales decline **1.9%** and Crest sales drop **6.6%**, while Aviara sales grew **22.5%**, significantly reducing its operating loss MasterCraft Segment Q3 FY2023 vs Q3 FY2022 (in thousands) | Metric | Q3 2023 | Q3 2022 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $117,630 | $119,956 | $(2,326) | (1.9%) | | Operating Income | $25,298 | $28,051 | $(2,753) | (9.8%) | Crest Segment Q3 FY2023 vs Q3 FY2022 (in thousands) | Metric | Q3 2023 | Q3 2022 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $36,369 | $38,959 | $(2,590) | (6.6%) | | Operating Income | $4,962 | $5,568 | $(606) | (10.9%) | Aviara Segment Q3 FY2023 vs Q3 FY2022 (in thousands) | Metric | Q3 2023 | Q3 2022 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $12,777 | $10,428 | $2,349 | 22.5% | | Operating Loss | $(1,234) | $(2,015) | $781 | 38.8% | [Liquidity and Capital Resources](index=25&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with **$27.5 million** in cash, **$73.9 million** in held-to-maturity securities, and a **$100.0 million** available revolving credit facility - As of April 2, 2023, the company had **$27.5 million** in cash and cash equivalents and **$73.9 million** in held-to-maturity securities[111](index=111&type=chunk) - The company has full availability of its **$100.0 million** Revolving Credit Facility with no amounts outstanding as of April 2, 2023[112](index=112&type=chunk) - During the nine months ended April 2, 2023, the company repurchased **625,794 shares** of common stock for **$16.0 million**[113](index=113&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=25&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's market risk primarily stems from its held-to-maturity fixed income securities, but no impairment losses are anticipated due to their investment-grade quality and short-term nature - The company's market risk is primarily related to its investment portfolio of fixed income securities[121](index=121&type=chunk) - Due to the investment-grade quality, short-term nature, and held-to-maturity classification of its securities, the company does not anticipate recognizing impairment losses[121](index=121&type=chunk)[122](index=122&type=chunk) [Controls and Procedures](index=26&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of April 2, 2023, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that disclosure controls and procedures were effective as of April 2, 2023[124](index=124&type=chunk) - No material changes to internal control over financial reporting occurred during the quarter ended April 2, 2023[125](index=125&type=chunk) PART II OTHER INFORMATION [Legal Proceedings](index=27&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings for the period - None[126](index=126&type=chunk) [Risk Factors](index=27&type=section&id=Item%201A.%20Risk%20Factors) No material changes to previously disclosed risk factors were reported during the period - No material changes to risk factors were reported during the three months ended April 2, 2023[127](index=127&type=chunk) [Unregistered Sales of Securities and Use of Proceeds](index=27&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Securities%20and%20Use%20of%20Proceeds) The company repurchased **210,150 shares** for approximately **$7.0 million** in Q3 FY2023, with **$8.6 million** remaining under the stock repurchase program Share Repurchases (Q3 FY2023) | Period | Total Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | Jan 2 - Jan 29, 2023 | — | $— | | Jan 30 - Feb 26, 2023 | 59,865 | $33.66 | | Feb 27 - Apr 2, 2023 | 150,285 | $33.14 | | **Total** | **210,150** | **$33.29** | - As of April 2, 2023, the remaining authorization under the stock repurchase program was approximately **$8.6 million**[128](index=128&type=chunk) [Exhibits, Financial Statement Schedules](index=28&type=section&id=Item%206.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and Inline XBRL documents - Exhibits filed include CEO and CFO certifications and Inline XBRL data files[134](index=134&type=chunk)