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. (MBUU) will release its Q1 fiscal 2021 financial results on November 6, 2020, before the market opens. A conference call with management, including CEO Jack Springer and CFO Wayne Wilson, will follow at 8:30 a.m. ET. Investors can join the call by dialing (855) 433-0928 or (484) 756-4263, using Conference ID #3295729. A live webcast will also be available on the company's website, with a replay archived for twelve months.
Malibu Boats reported a favorable claim construction ruling in its patent litigation against Skier’s Choice, which allegedly infringes on Malibu's patents regarding wakesurfing technology. Following this ruling, MB Sports, Inc. entered a license agreement with Malibu, involving a one-time payment and future royalties. CEO Jack Springer highlighted the respect for Malibu's innovations, noting that all significant towboat manufacturers except Skier’s Choice license Malibu’s intellectual property. The company continues to lead in the recreational powerboat market with its diverse brands.
Malibu Boats has launched the all-new M220, a luxury wake boat built to meet customer demand for a compact version of the M240. Measuring 22 feet 5 inches, the M220 features a deeper M-Line hull, offering enhanced ballast, storage, and a smooth ride in rough waters. It includes Malibu's innovative Ballast System and technologies like Surf Gate and Power Wedge III for customizable wakes. The M220 is powered by industry-leading Malibu Monsoon engines, adding to its appeal. With numerous luxury options and advanced tech like the Malibu Command Center, the M220 aims to redefine mid-size towboats.
Malibu Boats reported a 39.1% decline in net sales for Q4 FY2020, totaling $118.7 million, primarily due to COVID-19 related production shutdowns. Unit volume decreased 43.9% to 1,117 boats. Despite challenges, net sales per unit rose 8.6% to $106,232. For FY2020, net sales dropped 4.5% to $653.2 million, with net income down 7.2% to $64.7 million. The company plans to roll out new models and innovate to drive demand and shareholder value amid ongoing market volatility.
Malibu Boats has settled a patent infringement lawsuit against Go Surf Assist regarding surf system technology. The settlement includes a one-time payment from Go Surf Assist and a license agreement for future royalties on the technology. This resolution underscores Malibu Boats' position as a leader in wakesurfing innovation and enhances its competitive edge in the recreational boating market.
Malibu Boats, a leader in towboat sales, announces the launch of the new Wakesetter 24 MXZ, a high-performance model featuring advanced technology and spacious design. The 24 MXZ supports 17 passengers and boasts innovations like Stern Turn for enhanced maneuverability, customizable wakes, and an integrated Malibu Command Center for user-friendly operations. With a focus on luxury and performance, the boat is powered by the eco-friendly Monsoon M6Di engine. The release emphasizes Malibu's commitment to innovation, quality, and unmatched performance in the towboat market.
Malibu Boats, Inc. (MBUU) announced it will release its fourth quarter and full-year fiscal 2020 financial results on August 27, 2020, after market close. Following the release, management will host a conference call at 5:00 p.m. ET to discuss the results. Interested parties can participate by phone or via live webcast on the company’s website. Malibu is a leader in recreational powerboat design and manufacturing, known for its brands such as Malibu, Axis, Cobalt, and Pursuit.
Axis Wake Research has launched the new 2021 AXIS A24, the largest boat in its line, priced under $100,000 USD. Features include patented Axis Wake technology for customizable wakes, spacious seating for up to 18, and enhanced freeboard for a drier ride. The A24 includes innovative options like the Rear-Facing Sliding Skybox Seat and advanced navigation controls. Powered by the Malibu Monsoon M5Di motor, the A24 promises improved torque and quieter operation. The boat is now available at Axis retailers worldwide for demos and custom builds.
Malibu Boats has unveiled its latest model, the 2021 Wakesetter 23 LSV, renowned as the best-selling towboat of all time. This new model features significant upgrades, including a reconfigured interior, innovative design elements like a transom walk-over, and enhanced sound systems. The boat offers two hull options to suit diverse water sports, along with the new Multi-View Wake Bench for versatile seating. Powering the 23 LSV are Malibu Monsoon engines known for their performance and fuel efficiency. With over 39 years in the industry, Malibu continues to lead in boat innovation and craftsmanship.
Malibu Boats (MBUU) reported its Q3 2020 financial results, revealing an 8.8% decrease in net sales, totaling $182.3 million, and a 14.2% drop in unit volume to 1,796 boats. Conversely, net income rose 7.5% to $23.9 million or $1.11 per share. The company experienced operational challenges due to the COVID-19 pandemic, suspending manufacturing on March 24, 2020. Gross profit declined 7.8% to $45.8 million, while adjusted EBITDA fell 3.7% to $36.4 million. Despite these setbacks, the firm holds $113 million in cash, reflecting strong liquidity.
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