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. (NASDAQ: MCFT) announced record financial results for its fiscal 2023 second quarter ended January 1, 2023. Key highlights include:
- Net sales reached a record $159.2 million, reflecting a 10.2% increase year-over-year.
- Net income rose to $20.0 million ($1.12 per diluted share), an 11.9% increase from last year.
- Adjusted EBITDA also set a record at $29.8 million, up 9.8% from Q2 2022.
- Share repurchases totaled $4.8 million, contributing to record operating cash flow.
- Guidance for fiscal 2023 now anticipates net sales between $620 million and $640 million.
MasterCraft Boat Holdings (NASDAQ: MCFT) will conduct a live webcast of its fiscal Q2 2023 earnings call on February 8, 2023, at 8:30 a.m. EST. CEO Fred Brightbill, CFO Tim Oxley, and CRO George Steinbarger will present the financial results. A pre-market earnings release will be issued prior to the call. Participants can join via the investor section of the Company’s website or register for telephone access. MasterCraft is a key player in the recreational powerboat market, with brands including MasterCraft, Crest, and Aviara, holding significant market shares in performance sport boats and pontoon boats.
MasterCraft Boat Holdings, Inc. (MCFT) announced record financial results for Q1 fiscal 2023, ending October 2, with net sales of $169.5 million, a 29.7% increase year-over-year. Net income reached $24.6 million or $1.37 per diluted share, while Adjusted EBITDA surged 72.8% to $35.9 million. Despite a $22.1 million pretax loss from the sale of NauticStar, the company raised its full-year guidance for net sales to between $590 million and $625 million.
MasterCraft Boat Company has expanded its entry-level NXT lineup with the introduction of the 2023 NXT21 and NXT23 models. These boats offer industry-leading wave performance, innovative designs, and enhanced connectivity through the MasterCraft Connect app. The NXT21 accommodates 14 passengers while the NXT23 seats 16, both featuring increased ballast and integrated telematics for improved functionality. Available starting in November and January 2023, these models aim to deliver premium on-water experiences at competitive pricing.
MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) will host a live webcast for its fiscal Q1 2023 earnings on November 9, 2022, at 8:30 a.m. EST. CEO Fred Brightbill, CFO Tim Oxley, and CRO George Steinbarger will discuss financial results. A pre-market earnings release will be issued before the call. The conference call can be accessed via the company's investor website. MasterCraft, headquartered in Vonore, TN, is a leading manufacturer in recreational powerboats, with strong positions in the performance sport and pontoon boat segments.
MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) announced that Kamilah Mitchell-Thomas will join its Board of Directors as an independent director, effective November 15, 2022. This appointment follows the departure of TJ Chung, who will not seek re-election at the Annual Meeting of Shareholders on October 25, 2022. Mitchell-Thomas, currently Senior Vice President at Roku, brings extensive experience in human resources, crucial for the Company's growth strategy. The Board aims for a diverse composition aligning with strategic goals, enhancing leadership for focused human capital development.
MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) announced its fiscal 2022 fourth quarter and full-year results on September 8, 2022. The fourth quarter saw net sales increase by 39.9% to $217.7 million, with net income of $11.5 million or $0.63 per diluted share. Full-year results were also strong, with consolidated net sales of $707.9 million, a 34.6% rise. However, the company faced $23.8 million in impairment charges related to its NauticStar segment. Looking forward, MCFT anticipates fiscal 2023 consolidated net sales between $580 million and $615 million.
MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) announced the acquisition of its NauticStar business by a subsidiary of Iconic Marine Group on September 2, 2022. This move allows MasterCraft to concentrate on its core brands—MasterCraft, Crest, and Aviara—enhancing its potential for profitable growth. The NauticStar segment will be classified as discontinued operations starting in the fiscal first quarter of 2023. CEO Fred Brightbill expressed confidence that the sale will add value for shareholders and provide NauticStar with dedicated ownership to ensure its future success.
MasterCraft Boat Holdings, Inc. (MCFT) will host a live webcast of its fiscal fourth quarter and full-year 2022 earnings call on September 8, 2022, at 8:30 a.m. EDT. Key executives, including CEO Fred Brightbill, CFO Tim Oxley, and CRO George Steinbarger, will discuss the company's financial results. A pre-market earnings release is scheduled for the same day. Participants can access the call via webcast on the investor section of the company’s website or register for telephone participation.
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