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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) 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.
MasterCraft Boat Holdings (NASDAQ: MCFT) is evaluating strategic alternatives for its NauticStar business, considering options such as a potential asset sale to maximize shareholder value. CEO Fred Brightbill stated that the company is well-positioned for sustainable growth, focusing efforts on MasterCraft, Crest, and Aviara brands. NauticStar will be reported as discontinued operations starting Q1 fiscal 2023. The company reaffirms its full-year fiscal 2022 guidance, maintaining confidence in its operational and market strategies despite challenges in the environment.
MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) unveiled its 2023 model year features, enhancing comfort, technology, and performance across its towboat lineup. The redesigned XT20 model boasts a higher freeboard, upgraded ballast of over 1,000 pounds, and SurfStar technology for customizable wakes. New telematics and the MasterCraft Connect app allow remote monitoring. Audio systems are improved via a partnership with Klipsch, and a powerful Ilmor Supercharged 6.2L engine is now available. The boats also offer ergonomic seating and convenient storage solutions, marking a significant upgrade for enthusiasts.
MasterCraft Boat Company has launched the XT22 T, the latest addition to its XT family for the 2023 model year. This new model features a traditional bow design that enhances adaptability, performance, and reliability. The XT22 T promises best-in-class performance with features like SurfStar for customizable wakes, upgraded storage options, and exceptional audio capabilities. Built for comfort and versatility, it accommodates up to 14 people and has options for enhanced shade and storage. Its superior craftsmanship and robust Ilmor engine ensure reliability and quality.
MasterCraft Boat Company has announced the release of an exclusive run of 25 limited edition XStar S Piranha models featuring the Ilmor Supercharged 6.2L engine.
This special model boasts 630 horsepower and 665 lb-ft of torque, marking it as the world's most powerful towboat. It showcases unique features such as a custom purple flake gelcoat, premium audio setup, and a patented Z8 tower.
The limited edition will be available at select dealers, with each boat individually numbered to emphasize its exclusivity.
MasterCraft Boat Company has officially signed Tyler Higham, a notable wakeboarder known for his impressive achievements, to its athlete roster. This addition is expected to enhance MasterCraft's brand visibility in the wakeboarding community. Higham, at just 23, has already received multiple accolades, including 2x Best Boat Rider and 2018 Rookie of the Year. His addition to the team, boasting a legacy of winning world championships, highlights MasterCraft's commitment to excellence in the sport.
MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) reported a record-setting third quarter for fiscal 2022, ending April 3, with net sales of $186.7 million, a 26.3% increase year-over-year. Net income surged to $20.9 million ($1.13 per diluted share), marking a 19.2% rise. Adjusted EBITDA reached $32.1 million, up 16.4%, despite supply chain issues impacting margins. The company raised its full-year sales guidance, forecasting 30% growth while anticipating continued inflationary challenges affecting margins and operational efficiency.
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