Welcome to our dedicated page for Malibu Boats news (Ticker: MBUU), a resource for investors and traders seeking the latest updates and insights on Malibu Boats stock.
Malibu Boats, Inc. (NASDAQ: MBUU) is a premier designer, manufacturer, and marketer of a wide range of recreational powerboats. Founded in 1982 and headquartered in Loudon, Tennessee, Malibu Boats, Inc. leads the industry in performance sport boats through its flagship brands, Malibu and Axis, and is renowned for its patented wake and wave creation technologies. The company's product lineup also includes Cobalt Boats, which excels in the sterndrive boat segment, and Pursuit Boats, which specializes in high-end offshore and outboard motorboats. In 2021, Malibu further expanded its portfolio by acquiring Maverick Boat Group, enhancing its offerings in the flat fishing boat market.
The company operates multiple manufacturing facilities, with Malibu and Axis boats handcrafted along the Tennessee River and in North Albury, New South Wales, Australia. Each boat is engineered with luxury, technology, and quality in mind, catering to a diverse clientele of water sports enthusiasts, including wakeboarders, surfers, and skiers. Additionally, Malibu offers a unique 3D boat configurator on their websites, allowing customers to customize their dream boats.
Malibu Boats, Inc. has a robust financial footprint, boasting a 14% increase in net sales for Fiscal Year 2023 compared to the previous year. The company continues to innovate, recently introducing new models like the 23 LSV and M242, which are set to redefine standards in the performance sport boat market.
Despite facing a challenging macroeconomic environment, Malibu Boats remains confident in its operational prowess and strategic initiatives. The company is committed to vertical integration, producing its own engines under the Monsoon brand, and maintains a resilient supply chain to meet market demand. Through partnerships and continuous product development, Malibu Boats aims to sustain its market leadership and provide long-term value to its shareholders.
Malibu Boats' latest financial reports indicate mixed results. While net sales increased marginally in certain segments, overall unit volume saw a decrease due to normalized inventory levels post-COVID and higher interest rates affecting dealer flooring program costs. Nevertheless, the company achieved a gross profit increase, driven by higher sales revenues and better performance in the Saltwater Fishing segment.
Malibu Boats (MBUU) reported challenging Q1 fiscal 2025 results with significant declines across key metrics. Net sales decreased 32.9% to $171.6 million, while unit volume fell 39.7% to 1,024 units. The company posted a net loss of $5.1 million compared to a profit last year, with earnings per share dropping to -$0.25. Gross profit decreased 50.3% to $28.2 million, and Adjusted EBITDA fell 74.6% to $9.9 million. Despite these challenges, the company maintains a positive outlook, projecting low single-digit net sales growth for fiscal 2025 with Adjusted EBITDA margin ranging from 10-12%.
Rigrodsky Law, P.A. has announced an investigation into potential claims against the officers and directors of Malibu Boats, Inc. (NASDAQ GS: MBUU) on behalf of stockholders. The investigation focuses on shareholders who purchased or acquired Malibu Boats shares on or before November 4, 2022.
Stockholders interested in learning more about the investigation and their rights can visit the law firm's website at https://www.rl-legal.com/cases-malibu-boats-inc. Additionally, they can contact Leah Wihtelin free of charge at (516) 693-8926 or via email at lw@rl-legal.com for further information.
Malibu Boats, Inc. (Nasdaq: MBUU) has announced the release date for its first quarter fiscal 2025 financial results. The company will disclose the results on Thursday, October 31, 2024, before the market opens. Following the release, a conference call will be held at 8:30 a.m. Eastern Time on the same day to discuss the results.
The call will be hosted by Malibu's Chief Executive Officer, Steve Menneto, and Chief Financial Officer, Bruce Beckman. Investors and analysts can participate by dialing (844) 695-5523 or (412) 317-0699. Alternatively, a live webcast will be available on the company's Investor Relations website. A replay of the webcast will be archived on the website for twelve months.
Malibu Boats (MBUU) has unveiled the 2025 Malibu M230, a new ultra-luxury towboat designed to set industry benchmarks. Key features include:
1. 23-foot length, 6,750 lbs dry weight, 16-person capacity
2. New Malibu Command Center with dual touchscreen displays
3. Redesigned interior with flexible seating and storage options
4. G10+ Tower with RGB lighting and optional Wet Sounds Rev 12 speakers
5. Malibu Surf Systems including Surf Gate® Fusion and Power Wedge® III
6. Choice of Monsoon M6Di or 607 HP LT4 engine
7. Industry-first AIS ballast flush system option
8. New online Hi-Def Boat Builder tool for customization
The M230 aims to deliver superior performance, comfort, and luxury in the towboat market.
Malibu Boats, Inc. (MBUU) reported its Q4 and fiscal year 2024 results, showing significant declines across key financial metrics. Net sales decreased 57.4% to $158.7 million in Q4, while unit volume fell 59.0% to 1,045 units. For the full fiscal year, net sales dropped 40.3% to $829.0 million, with unit volume down 45.4% to 5,385 units. The company reported a net loss of $19.6 million for Q4 and $56.4 million for the full year. Adjusted EBITDA also declined significantly. The company attributed these results to lower wholesale shipments driven by weakening retail demand and elevated dealer channel inventory levels. Despite challenges, Malibu Boats remains focused on navigating near-term headwinds while positioning for future growth.
Malibu Boats, Inc. (Nasdaq: MBUU) has announced the release date for its fourth quarter and full-year fiscal 2024 financial results. The company will disclose these results on Thursday, August 29, 2024, before the market opens. Following the release, a conference call will be held at 8:30 a.m. Eastern Time on the same day to discuss the results.
The call will be hosted by key company executives, including CEO Steve Menneto, CFO Bruce Beckman, and Board Chair Michael Hooks. Investors and analysts can participate by dialing (844) 695-5523 or (412) 317-0699. A live webcast will also be available on the company's Investor Relations website, with a replay accessible for twelve months.
Malibu Boats (MBUU) has unveiled the redesigned 2025 Malibu Wakesetter 25 LSV, featuring a new hull design, increased seating capacity, and innovative features like the Max-Relax Sundeck Loungers and Max Pivot Seat. The company also introduced the Malibu Command Center with a 15.8" touchscreen display and a new operating system for enhanced user experience.
Key innovations include:
- G10+ Tower with built-in RGB lighting and misters
- New Rev 12 Tower Speakers with multi-sync RGB lighting
- AIS ballast flush system for easy cleaning
- Hi-Def Boat Builder tool for online customization
These advancements aim to redefine the watersports towboat experience, combining luxury, technology, and performance for the 2025 model year.
Malibu Boats (Nasdaq: MBUU) has appointed Steven D. Menneto as its new CEO, effective August 5, 2024. Menneto, who will also join the Board of Directors, comes from Polaris where he was President of the Off-Road Vehicle Division. In his previous role, he nearly doubled division revenue to $7 billion over four years. Menneto's appointment ends the Office of the CEO, with Michael K. Hooks remaining as Board Chair and Ritchie Anderson as President.
Menneto's experience includes growing Polaris' Motorcycle Division, increasing Indian Motorcycle's revenue from $3 million to $500 million. The Board cited Menneto's track record of leading growth and his experience across functional areas, especially in sales and distribution management, as key factors in his selection.
Malibu Boats, Inc. announced a decline in net sales by 45.8% in the third quarter of fiscal 2024, with significant decreases in unit volume, gross profit, GAAP net income, and Adjusted EBITDA. The company reported a net loss of $67.8 million, including impairment charges. Despite challenges in the retail market, the company remains focused on returning inventories to stable levels. Malibu Boats anticipates a continued softening in retail demand for the fiscal year 2024 but is confident in its ability to generate positive cash flow and support market growth.
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