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Malibu Boats, Inc. Announces Fourth Quarter Fiscal 2025 Results
Globenewswire· 2025-08-28 11:00
Core Insights - Malibu Boats, Inc. reported a strong performance in the fourth quarter of fiscal year 2025, with net sales increasing by 30.4% to $207.0 million compared to the same period in fiscal year 2024, driven by higher unit volumes and favorable model mix [6][8][9] - The company faced challenges in fiscal year 2025, with overall net sales decreasing by 2.6% to $807.6 million, primarily due to lower unit volumes in the Saltwater Fishing and Cobalt segments [17][18][19] - The company is optimistic about future growth, planning to introduce eleven new models in fiscal year 2026 and maintaining a disciplined approach to dealer health amid expected retail headwinds [4][29] Fourth Quarter Fiscal 2025 Highlights - Net sales increased by $48.3 million, or 30.4%, to $207.0 million compared to the fourth quarter of fiscal year 2024 [8] - Unit volume rose by 16.8% to 1,221 units, with significant growth in the Malibu segment [6][8] - Gross profit surged by 162.1% to $32.7 million, with gross margin improving from 7.9% to 15.8% [14][16] Fiscal Year 2025 Highlights - Net sales for fiscal year 2025 decreased by $21.5 million, or 2.6%, to $807.6 million compared to fiscal year 2024 [17] - Unit volume declined by 9.0% to 4,898 units, primarily due to lower wholesale shipments in the Saltwater Fishing and Cobalt segments [17][19] - Net income increased by 127.0% to $15.2 million, with adjusted EBITDA decreasing by 9.1% to $74.8 million [27][29] Segment Performance - The Malibu segment saw net sales increase by $33.6 million, or 12.0%, to $312.7 million for fiscal year 2025, driven by favorable model mix and inflation-driven price increases [18] - The Saltwater Fishing segment experienced a decrease in net sales by $47.9 million, or 14.6%, to $279.6 million, attributed to lower retail activity and inventory management by dealers [19][20] - The Cobalt segment's net sales decreased by $7.1 million, or 3.2%, to $215.2 million, also due to lower wholesale shipments [21] Cost and Profitability Metrics - Cost of sales for fiscal year 2025 decreased by $18.5 million, or 2.7%, to $663.5 million, reflecting a decrease in volumes [23] - Gross profit for fiscal year 2025 decreased by $3.0 million, or 2.0%, compared to fiscal year 2024, with gross margin slightly increasing from 17.7% to 17.8% [24] - General and administrative expenses increased by $16.1 million, or 21.1%, to $92.5 million, driven by legal settlements and increased compensation [26] Future Outlook - For fiscal year 2026, Malibu anticipates net sales to be flat to down mid-single digits year-over-year, with adjusted EBITDA margin expected to range from 8% to 9% [29]
Malibu Boats, Inc. Appoints Melanie Cook to Board of Directors
Globenewswire· 2025-06-24 20:30
Core Insights - Malibu Boats, Inc. has appointed Melanie Cook, former COO of GE Appliances, to its Board of Directors as an independent director, effective immediately [1][2] - Cook will serve on the Audit Committee and the Nominating and Governance Committee, bringing over three decades of leadership experience in operations and manufacturing [1][2] - Her appointment is part of Malibu's strategy to strengthen its board and advance long-term goals, coinciding with the upcoming retirement of John Stokely in October 2025 [4][5] Company Overview - Malibu Boats, Inc. is a leading designer, manufacturer, and marketer of recreational powerboats, including performance sport, sterndrive, and outboard boats [6] - The company is a market leader in the performance sport boat category through its Malibu and Axis brands, and holds leading positions in other segments such as sterndrive and saltwater fishing boats [6] - Malibu Boats focuses on innovation and aims to appeal to a diverse range of recreational boaters and water sports enthusiasts [6]