MasterCraft Boat Holdings, Inc. - MCFT STOCK NEWS

MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) announced the election of Jennifer Deason to its Board of Directors, expanding the board to eight members, seven of whom are independent. Deason brings over two decades of executive experience, including her roles as Chairman and CEO of Belong Acquisition Corp. and CFO of the Weather Channel. Her expertise is expected to support MasterCraft's strategic growth during a pivotal time for the marine industry. The company holds a strong market position in various powerboat segments.

MasterCraft Boat Holdings (NASDAQ: MCFT) announced a new share repurchase program allowing up to $50 million in stock buybacks through June 24, 2024. The company has also secured a $160 million credit facility, consisting of a $60 million term loan and a $100 million revolving line, enhancing its liquidity and financial flexibility. The CEO expressed confidence in the company's growth strategy and market positioning. The new credit facility replaces the previous one and matures on June 28, 2026.

MasterCraft Boat Holdings reported a record fiscal 2021 third quarter, with net sales of $147.9 million, a 44% increase year-over-year. Gross margin improved by 450 basis points to 25.2%. Net income was $17.6 million or $0.93 per diluted share, while Adjusted Net Income reached $19.1 million or $1.01 per diluted share, marking a 120% rise. The company anticipates a 40% growth in consolidated net sales and improved margins for the full fiscal year based on strong retail demand and production ramp-up.

MasterCraft Boat Holdings (NASDAQ: MCFT) will host a live webcast for its fiscal Q3 2021 earnings call on May 12, 2021, at 8:30 a.m. EDT. CEO Fred Brightbill, CFO Tim Oxley, and CRO George Steinbarger will present the financial results. A pre-market earnings release will occur before the call. Investors can access the webcast via the company’s website. The earnings report is significant as it reflects the company's performance in the powerboat industry, including segments like performance sport boats and pontoon boats.

On March 8, 2021, MasterCraft Boat Company launched the "Let Her Rip" campaign on International Women’s Day, aiming to empower women in water sports. The initiative includes a free clinic hosted by world champion athlete Meagan Ethell on May 1-2 in Orlando, FL. Participants can also access digital coaching via the Givego app. Supported by Ethell’s sponsors, the campaign promotes leadership and strength among women in the industry. Director of Engineering Erica Clark-Heinrich emphasized the importance of supporting one another and learning from failures.

MasterCraft Boat Company has partnered with Givego, an app-based service providing personalized coaching by professional athletes. Customers buying a new MasterCraft boat will receive annual memberships to Givego, enhancing their experience with expert feedback in activities like wakesurfing and wakeboarding. This initiative aims to boost customer satisfaction and engagement through innovative digital coaching, aligning with MasterCraft's dedication to delivering premium experiences on the water.

MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) will have its executive team, including CEO Fred Brightbill, CFO Tim Oxley, and CRO George Steinbarger, present at the Raymond James 42nd Annual Institutional Investors Conference on March 3, 2021, at 7:30 a.m. EST. This virtual event will be accessible via a live audio webcast on the company's website and will remain archived for 30 days post-event. MasterCraft is a leading innovator in the recreational powerboat industry, comprising brands like MasterCraft, NauticStar, Crest, and Aviara.

MasterCraft Boat Holdings reported its fiscal 2021 second quarter results, achieving record profitability with net sales of $118.7 million, a 19% increase year-over-year. Gross margin expanded by 340 basis points to 24.7%, and net income surged 78% to $12.5 million, or $0.66 per share. Adjusted EBITDA rose 57% to $21.3 million, with an adjusted EBITDA margin of 17.9%. The company raised its fiscal 2021 guidance, anticipating mid to high 30% percent growth in net sales due to strong retail demand and low dealer inventory.

MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) will host a live webcast of its fiscal second quarter 2021 earnings call on February 10, 2021, at 8:30 a.m. EST. During this call, CEO Fred Brightbill, CFO Tim Oxley, and CRO George Steinbarger will discuss the company's financial results. A preliminary earnings release will be issued before the call. Investors can access the call via the investor section of the company's website or by dialing in. Replay options will be available post-call. MasterCraft operates under four brands, holding strong market positions across multiple segments of the powerboat industry.