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, Inc. (Nasdaq: MBUU) has appointed David Black as the new Interim Chief Financial Officer, effective April 19, 2023, following the resignation of Wayne Wilson. Wilson will assist in the transition until May 12, 2023, before moving to a similar role at a private equity-backed firm. David Black, who has been with Malibu since 2020 as Corporate Controller, has significant experience in finance and internal audit, positioning him well for this role. The Board is actively searching for a permanent successor. CEO Jack Springer and Chairman Michael K. Hooks expressed gratitude for Wilson's contributions and confidence in Black's capabilities to maintain operational continuity during this transition.
Malibu Boats reported strong financial results for Q2 FY2023, with net sales rising 28.4% to $338.7 million and net income increasing 17.5% to $36.4 million. The unit volume grew 17.7% to 2,439 units, driven by demand across all segments. Gross profit improved 19.0% to $75.7 million, though gross margin decreased to 22.3% from 24.1%. Adjusted EBITDA climbed 19.7% to $57.6 million, with an adjusted EBITDA margin of 17.0%. For FY2023, the company expects mid to high single-digit net sales growth and a slight decline in adjusted EBITDA margin.
Malibu Boats, Inc. (MBUU) will announce its fiscal Q2 2023 financial results on February 7, 2023, before the market opens. CEO Jack Springer and CFO Wayne Wilson will lead a conference call at 8:30 a.m. Eastern Time post-release. Investors can join by calling either (844) 763-8274 or (412) 717-9224, or via a live webcast available on the company's Investor Relations webpage. A replay of the call will be accessible for twelve months. Malibu Boats is a prominent designer and manufacturer of recreational powerboats, holding leading positions across various categories including performance sport and sterndrive boats.
Malibu Boats reported strong first-quarter results for fiscal 2023, ending September 30, 2022. Net sales rose 19.2% to $302.2 million, driven by increased unit volumes and price inflation across segments. Gross profit increased 24.9% to $74.6 million, while net income rose 29.3% to $36.1 million. Adjusted EBITDA grew 27.6% to $57.1 million. Malibu anticipates mid to high single-digit sales growth for the full fiscal year. Despite ongoing supply chain challenges, demand remains strong, particularly for larger boats. The company's operational excellence is expected to continue driving profitable growth.
Malibu Boats, Inc. (MBUU) plans to release its first quarter fiscal 2023 financial results on November 4, 2022, ahead of market opening. The company's management, led by CEO Jack Springer and CFO Wayne Wilson, will host a conference call at 8:30 a.m. ET to discuss the results. Investors can register for the call to receive access details or listen to a live webcast via the Investor Relations section of Malibu's website, where a replay will be available for twelve months.
Malibu Boats, Inc. (MBUU) reported strong financial results for the fourth quarter and fiscal year ending June 30, 2022. Net sales rose by 27.6% to $353.2 million, driven by increased unit volumes and price hikes. Fourth quarter net income increased 42.1% to $49.7 million, with diluted earnings per share at $2.31. For the fiscal year, net sales reached a record $1,214.9 million, a 31.1% increase, and net income was $163.4 million, up 43.0%. Looking ahead, the company expects mid to high single-digit sales growth.
Malibu Boats, Inc. (MBUU) will announce its fourth quarter and full-year fiscal 2022 financial results on August 25, 2022, before the market opens. The management, including CEO Jack Springer and CFO Wayne Wilson, will host a conference call at 8:30 a.m. Eastern Time to discuss the results. Interested parties can register for the call or access a live webcast through the company’s Investor Relations section. A replay will be available on the website for twelve months.
Axis Wake introduces two new models for 2023: the A225 and T235, enhancing the successful A22 and T23 designs. The A225 is designed to create exceptional wakes for wakeboarding and wakesurfing, while the T235 promises superior surf capabilities with enhanced comfort. Both models feature the Wake Plus Hull and integrate advanced innovations like Surf Gate and Power Wedge III for customizable wave conditions. Additionally, new design elements include bold color options and improved interior features for a more comfortable experience. Axis is determined to elevate summer boating experiences.
Malibu Boats (MBUU) announces an exciting model year for 2023, introducing the Wakesetter 26 LSV and the all-new Wakesetter 22 LSV, designed for maximum performance and family enjoyment. The 26 LSV is the longest boat Malibu has ever built, featuring innovative luxury elements and exceptional wake performance. Customization options include new striking colors and upgraded sound systems. Malibu's focus on enhancing user experience is evident with features like a rudder-position sensor and advanced wake control technology. Visit the website for more details.
Malibu Boats (MBUU) reported strong fiscal Q3 2022 results, with net sales rising 26.0% to a record $344.3 million. Unit volume increased 4.4% to 2,562 units. Key metrics included a 56.1% increase in net income to $54.8 million and a 39.9% rise in Adjusted EBITDA to $79.8 million. The company anticipates full-year revenue growth of 28-29% and Adjusted EBITDA margins nearing 20.5%. CEO Jack Springer highlighted operational excellence, strong consumer demand, and successful M&A as key growth drivers.
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