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 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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