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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 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.
MasterCraft Boat Holdings, Inc. reported financial results for Q3 fiscal 2024. Net sales were $95.7 million, down 42.6% YoY. Net income was $3.8 million, diluted EPS $0.23. Adjusted Net Income per share was $0.37, down 72.8%. Adjusted EBITDA was $9.7 million, down 70.7%. Company ended the quarter with $105.7 million cash and investments. CEO Brad Nelson highlighted strong business foundation and announced the launch of new luxury pontoon brand, Balise, to drive growth and innovation.
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