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 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.
MasterCraft Boat Company (NASDAQ: MCFT) has launched the MasterCraft Experience Digital Boat Show, an immersive online platform designed for boat enthusiasts. This digital initiative offers consumers a self-guided tour that features behind-the-scenes content from MasterCraft's headquarters, exclusive model walkthroughs, and insights into the 2021 fleet. The platform allows users to explore MasterCraft’s latest innovations and connect with dealers globally. The experience is free and accessible on any device, marking a strategic move to enhance consumer engagement during the boat show season.
MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) reported its fiscal 2021 first quarter earnings, marking the most profitable first quarter in its history. Net sales decreased by 5.5% to $103.7 million, while net income rose 10.9% to $9.6 million, or $0.51 per diluted share. Adjusted EBITDA increased by 6.8% to $17.0 million, with an adjusted net income of $10.9 million, reflecting strong retail demand. The company raised its full-year guidance, projecting mid-30% growth in net sales and mid-80% growth in adjusted earnings per share, buoyed by strong order books and improving production rates.
MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) will host a live webcast of its Q1 2021 earnings conference call on November 11, 2020, at 8:30 a.m. EDT. During the call, key executives will discuss the Company's financial results following a pre-market earnings release on the same day. Interested participants can access the webcast through the investor section of the Company's website. An audio replay will be available post-call.
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