MasterCraft Boat Holdings, Inc. Reports Fiscal 2026 Results

VONORE, Tenn.--(BUSINESS WIRE)--$MCFT--MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) today announced financial results for its fiscal 2026 fourth quarter and year ended June 30, 2026. The overview, commentary, and results provided herein relate to our continuing operations, which consists of our Performance and Wake, Leisure, and Recreation and Sport Fishing segments. Performance and Wake was formerly reported as MasterCraft, Leisure was formerly reported as Pontoon, and Recreation and Sport Fishing was established following the combination with Marine Products Corporation (“Marine Products”), as discussed below. On May 15, 2026, the Company completed the merger with Marine Products (“Marine Products Transaction”). As a result, the Company recognized incremental net sales of $33.3 million within the Recreation and Sport Fishing segment during its fiscal 2026 fourth quarter. Results for the quarter and full year were also impacted by acquisition-related expenses associated with the Marine Products Transaction, including transaction costs and purchase accounting adjustments. Separately, during the fourth quarter of fiscal 2026, the Company recorded a $10.1 million non-cash impairment charge related to the Leisure segment. Together, these items had a significant impact on reported earnings for the quarter and full year. Additional information regarding these items is provided below. Fourth Quarter Overview: Net sales for the fourth quarter were $129.9 million, up $50.4 million, or 63.4%, from the prior-year period. Excluding the contribution from the Marine Products Transaction, net sales increased $17.1 million, or 21.5%, compared to the prior-year period. Loss from continuing operations in the fourth quarter was $7.0 million, or $(0.35) per diluted share, reflecting a $10.1 million non-cash impairment charge in the Leisure segment and $11.0 million in acquisition-related expenses Adjusted Net Income, a non-GAAP measure, was $13.5 million, or $0.67 per diluted share, up from $6.6 million, or $0.40 per diluted share, in the prior-year period primarily driven by strong underlying performance across our core operations Adjusted EBITDA, a non-GAAP measure, was $20.5 million, up $11.0 million from the comparable prior-year period Full Year Overview: Net sales were $348.9 million, up $64.7 million, or 22.8%, from the prior-year period. Excluding the contribution from the Marine Products Transaction, net sales increased $31.4 million, or 11.0%, compared to the prior-year period. Loss from continuing operations was $1.6 million, or $(0.09) per diluted share, reflecting a $10.1 million non-cash impairment charge in the Leisure segment and $20.4 million in acquisition-related expenses Adjusted Net Income, a non-GAAP measure, was $30.2 million, or $1.76 per diluted share, up from $15.1 million, or $0.92 per diluted share, in the prior-year period primarily driven by strong underlying performance across our core operations Adjusted EBITDA, a non-GAAP measure, was $45.6 million, up $21.2 million from the prior-year period Brad Nelson, Chief Executive Officer, commented, “Fiscal 2026 was a defining year for MasterCraft Boat Holdings. Strong execution across our legacy business drove results to significantly outperform expectations despite a challenging retail environment. We grew net sales, expanded Adjusted EBITDA nearly 80%, and completed the transformational combination with Chaparral and Robalo.” Nelson continued, “The MasterCraft brand was at the center of that success. Strong retail performance and the successful rollout of the next-generation X-Series product family drove favorable premium mix, strengthened brand momentum, and improved profitability.” Fourth Quarter Results For the fourth quarter of fiscal 2026, MasterCraft Boat Holdings, Inc. reported consolidated net sales of $129.9 million, up $50.4 million from the fourth quarter of fiscal 2025. The increase in net sales was primarily due to incremental net sales of $33.3 million generated in our Recreation and Sport Fishing segment as a result of the Marine Products Transaction, increased unit volumes, increased prices, and decreased dealer incentives, partially offset by unfavorable model mix. Gross margin percentage decreased 60 basis points during the fourth quarter of fiscal 2026, compared to the prior-year period. Lower margins were primarily the result of a $2.6 million inventory step-up charge related to the Marine Products Transaction, partially offset by increased net sales, combined with effective cost controls within our Performance and Wake and Leisure segments. Operating expenses increased $23.1 million for the fourth quarter of fiscal 2026, compared to the prior-year period, due to Marine Products Transaction costs of $5.9 million, order-backlog and dealer network amortization of $2.9 million related to the transaction, incremental operating expenses within the Recreation and Sport Fishing segment, and $10.1 million of non-cash impairment charges related to intangible assets in our Leisure segment. The impairment charges reflected declines in the estimated fair value of certain intangible assets based on updated projections and other valuation inputs. Loss from continuing operations was $7.0 million for the fourth quarter of fiscal 2026, compared to income of $5.5 million in the prior-year period. Diluted loss from continuing operations per share was $(0.35), compared to diluted income per share of $0.33 for the fourth quarter of fiscal 2025. Adjusted Net income was $13.5 million for the fourth quarter of fiscal 2026, or $0.67 per diluted share, compared to $6.6 million, or $0.40 per diluted share, in the prior-year period. Adjusted EBITDA was $20.5 million for the fourth quarter of fiscal 2026, compared to $9.5 million in the prior-year period. Adjusted EBITDA margin was 15.8% for the fourth quarter, up from 12.0% for the prior-year period. Fiscal 2026 Results For fiscal 2026, MasterCraft Boat Holdings, Inc. reported consolidated net sales of $348.9 million, up $64.7 million from fiscal 2025. The increase in net sales was primarily due to incremental net sales generated in our Recreation and Sport Fishing segment as a result of the Marine Products Transaction, increased unit volumes, increased prices, favorable model mix and option sales, and decreased dealer incentives. Gross margin percentage increased 290 basis points during fiscal 2026, compared to the prior-year period. Higher margins were primarily the result of increased net sales, combined with effective cost controls within our Performance and Wake and Leisure segments, partially offset by a $2.6 million inventory step-up charge related to the Marine Products Transaction. Operating expenses increased $35.3 million for the fiscal 2026, compared to the prior-year period, primarily due to Marine Products Transaction costs, order-backlog and dealer network amortization related to the transaction, incremental operating expenses within the Recreation and Sport Fishing segment, non-cash impairment charges related to intangible assets in our Leisure segment, ERP implementation costs, and increased variable compensation costs. Loss from continuing operations was $1.6 million for fiscal 2026, compared to income of $10.7 million in the prior-year period. Diluted loss from continuing operations per share was $(0.09), compared to diluted income per share of $0.65 for fiscal 2025. Adjusted Net income was $30.2 million for fiscal 2026, or $1.76 per diluted share, compared to $15.1 million, or $0.92 per diluted share, in the prior-year period. Adjusted EBITDA was $45.6 million for fiscal 2026, compared to $24.4 million in the prior-year period. Adjusted EBITDA margin was 13.1% for fiscal 2026, up from 8.6% for the prior-year period. See “Non-GAAP Measures” below for a reconciliation of Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net Income, Adjusted Net Income per share, and Free Cash Flow, which we refer to collectively as the “Non-GAAP Measures”, to the most directly comparable financial measures presented in accordance with GAAP. Outlook Concluded Nelson, “What gives me confidence is that these results were earned, not market-driven. Our teams executed with discipline, remained focused on the fundamentals, and consistently delivered against our priorities. There is real energy and excitement across the organization as we enter our next chapter as a larger, more diversified company.” In June 2026, the Company announced a change in its fiscal year-end from June 30 to December 31, effective July 1, 2026. As a result, the Company expects to file a transition report covering the six-month period from July 1, 2026 through December 31, 2026 (the “Transition Period”). Thereafter, the Company’s reporting periods will be based on its new December 31 fiscal year-end. The Company’s outlook is as follows: For the six-month Transition Period we expect consolidated net sales to be between $287 million and $291 million, with Adjusted EBITDA between $29 million and $32 million, and Adjusted Earnings per share between $0.66 and $0.76. We expect capital expenditures to be approximately $9 million for the Transition period. For the first quarter of the Transition Period, consolidated net sales are expected to be approximately $147 million, with Adjusted EBITDA of approximately $16 million, and Adjusted Earnings per share of approximately $0.40. Conference Call and Webcast Information MasterCraft Boat Holdings, Inc. will host a live conference call and webcast to discuss fiscal fourth quarter and full year 2026 results today, September 10, 2026, at 8:30 a.m. ET. Participants may access the conference call live via webcast on the investor section of the Company’s website, Investors.MasterCraft.com, by clicking on the webcast icon. To participate via telephone, please register in advance at this link. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. A replay of the conference call and webcast will be archived on the Company's website. About MasterCraft Boat Holdings, Inc. Headquartered in Vonore, Tenn., MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) is a leading innovator, designer, manufacturer and marketer of recreational powerboats through its five brands, MasterCraft, Crest, Balise, Chaparral, and Robalo. For more information about MasterCraft Boat Holdings, and its five brands, visit: Investors.MCBH.com, www.MasterCraft.com, www.CrestPontoonBoats.com, www.BalisePontoonBoats.com, www.ChaparralBoats.com, and www.Robalo.com. Forward-Looking StatementsRead the full story here

MasterCraft Boat Holdings, Inc. Reports Fiscal 2026 Results

Şirketle ilgili diğer haberler