Welcome to our dedicated page for MasterCraft Boat Holdings news (Ticker: MCFT), a resource for investors and traders seeking the latest updates and insights on MasterCraft Boat Holdings stock.
MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) is a leading innovator, designer, manufacturer, and marketer of premium recreational powerboats. Headquartered in Vonore, Tennessee, MasterCraft has a rich history dating back to its founding in 1968. The company operates through three distinguished brands: MasterCraft, Crest, and Aviara, each catering to distinct segments of the boating market.
The MasterCraft brand is renowned for its high-performance inboard boats designed for water skiing, wakeboarding, and wakesurfing. This segment contributes the majority of the company's revenue and continues to set industry standards for innovation and performance. The newly launched XT25 model, for instance, showcases MasterCraft's commitment to cutting-edge design with features like the updated SurfStar system and underwater exhaust for enhanced rider experience.
NauticStar complements the MasterCraft lineup by offering a range of outboard boats suitable for fishing and recreational boating. These boats are engineered for versatility and reliability, making them a favorite among boating enthusiasts across North America.
The Crest brand, known for its luxurious pontoon boats, has recently extended its portfolio with the introduction of Balise Pontoon Boats. Balise aims to redefine luxury on the water with high-end features such as dual 12-inch screens at the helm, underwater lighting, and an in-water power cooler. This new brand underscores Crest's dedication to providing sophisticated and innovative boating experiences.
MasterCraft Boat Holdings has demonstrated strong financial performance, driven by its robust product lineup and commitment to quality. The company continues to invest in research and development, ensuring its products remain at the forefront of the industry. Additionally, strategic partnerships, like the one with Mercury Marine for exclusive outboard engine supply, further enhance the value proposition of MasterCraft's offerings.
Leadership changes are also shaping the company's future. Effective March 18, 2024, Brad Nelson will take over as CEO, succeeding Fred Brightbill. Nelson brings over 30 years of experience in operating and manufacturing, promising a smooth transition and continued strategic growth for the company.
For more information, visit www.mastercraft.com, www.CrestPontoonBoats.com, and www.AviaraBoats.com.
MasterCraft Boat Company has announced an exclusive partnership with General Motors, naming Chevrolet Silverado as its Official Truck & Tow Vehicle for 2025 and beyond. The collaboration builds on MasterCraft's existing relationship with Ilmor Marine, which uses GM's marine technology.
As part of the deal, MasterCraft will receive eight Chevrolet Silverado 2500HD trucks for use at various events, including 32 boat shows and 51 Rule The Water Tour stops. The partnership highlights the technical synergy between the companies, particularly in the 5.3L GDI HO engine used in MasterCraft boats, which is adapted from Silverado's engine by Ilmor to meet marine requirements while maintaining reliability and power.
Helios Technologies (NYSE: HLIO) announces the market introduction of PowerView® U150 and PowerView® U120 displays, now available on select MY25 MasterCraft boats through its operating company, Enovation Controls. The displays, developed over a three-year lifecycle, will be featured on MasterCraft's XStar, X and XT boats. The new displays offer best-in-class viewability, exceptional durability against harsh marine conditions, user-friendly interface, and seamless integration. This launch marks over 15 years of collaboration between Helios and MasterCraft.
MasterCraft Boat Holdings reported fiscal 2025 first quarter results with net sales of $65.4 million, down 30.7% year-over-year. Income from continuing operations was $1.0 million ($0.06 per diluted share), while Adjusted Net Income reached $1.9 million ($0.12 per diluted share). The company completed $3.5 million in share repurchases during the quarter.
The company updated its fiscal 2025 guidance, projecting consolidated net sales between $270-300 million, Adjusted EBITDA of $17-26 million, and Adjusted Earnings per share of $0.55-0.95. For Q2 2025, MasterCraft expects net sales of approximately $60 million with Adjusted EBITDA of $1 million.
MasterCraft Boat Holdings (NASDAQ: MCFT) has announced it will host a live webcast of its fiscal first quarter 2025 earnings conference call on Wednesday, November 6, 2024, at 8:30 a.m. EST. CEO Brad Nelson and CFO Tim Oxley will discuss the company's financial results. A pre-market earnings release will be issued before the call. Investors can access the webcast through the company's website at Investors.MasterCraft.com, or join via telephone by registering in advance. A replay will be available on the company's website after the call.
MasterCraft Boat Company, a subsidiary of MasterCraft Boat Holdings (NASDAQ: MCFT), recently hosted a successful dealer meeting at its Tennessee factory. The event brought together the company's dealer network for a day focused on education, celebration, and innovation. As the world's best-selling towboat brand, MasterCraft used this gathering to honor its legacy while introducing new initiatives for the future.
The meeting provided an opportunity for dealers to strengthen partnerships and gain insights into MasterCraft's latest advancements. While specific details of new products or strategies were not disclosed, the event emphasized the company's commitment to maintaining its leadership position in the towboat industry through continued innovation and strong dealer relationships.
MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) has announced an agreement to sell its boat manufacturing plant in Merritt Island, Florida. This sale follows the company's previous decision to transfer the rights of its Aviara brand to a third party. The buyer, RMI Holdings, Inc., is the parent company of Regal Boats. CEO Brad Nelson expressed satisfaction with the transaction, highlighting the buyer's local presence and potential to continue the area's boat-building tradition. The sale is expected to strengthen MasterCraft's financial position, providing flexibility for strategic initiatives focused on their core brands: MasterCraft, Crest, and Balise. The deal is anticipated to close in the company's fiscal second quarter, subject to customary conditions.
MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) reported financial results for fiscal 2024. Net sales for Q4 were $67.2 million, down 59.7% year-over-year, with a net loss of $8.1 million. Full-year net sales were $366.6 million, down 44.6%. The company faced challenges due to economic uncertainty and a competitive retail landscape. Key points include:
- Q4 Adjusted EBITDA: $0.8 million, down 97.4%
- Full-year net income: $8.7 million, or $0.51 per diluted share
- Full-year Adjusted EBITDA: $32.9 million, down 74.9%
- Cash and investments: $86.2 million
- Total debt: $49.3 million
MasterCraft plans to transfer rights to its Aviara brand. For fiscal 2025, the company projects net sales between $265-300 million and Adjusted EBITDA of $15-26 million.
MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) has announced its upcoming fiscal fourth quarter and full year 2024 earnings conference call, scheduled for Thursday, August 29, 2024, at 8:30 a.m. EDT. The company will host a live webcast of the call, featuring CEO Brad Nelson and CFO Tim Oxley discussing financial results. A pre-market earnings release will be issued on the same day. Interested parties can access the webcast through the investor section of MasterCraft's website or participate via telephone by registering in advance. A replay of the conference call and webcast will be available on the company's website following the event.
MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) has announced an asset exchange agreement with MarineMax's subsidiary, Cruisers Yachts, for the Aviara brand of luxury dayboats. Key points include:
- MasterCraft will transfer Aviara brand ownership and related assets to Cruisers Yachts
- MarineMax will pay for current orders and assume customer care and warranty responsibilities
- MasterCraft will close its Merritt Island, Florida facility and offer it for sale
- The Aviara segment will be reported as discontinued operations from Q1 FY2025
This strategic move aims to optimize MasterCraft's cost structure and focus on its core brands: MasterCraft, Crest, and Balise. The transaction is expected to close in Q1, subject to customary conditions.
Avaya has announced the appointment of Kamilah Thomas as the new Senior Vice President and Chief People Officer (CPO), effective June 3. Based in Morristown, New Jersey, Thomas will lead Avaya's global human resources and culture transformation efforts, directly reporting to CEO Alan Masarek. Thomas, who brings over 20 years of global HR leadership experience, will focus on advancing the company's culture and DEI&B initiatives. Her previous roles include SVP, People and Workplace Experience at Roku and Chief People Officer at Dow Jones & Company. This leadership change is a part of Avaya's ongoing efforts to evolve its workplace into a dynamic and inclusive environment.
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