Malibu Boats reported a decrease in net sales by 15.3% to $255.8 million and a decrease in net income by 42.5% to $20.8 million compared to the first quarter of fiscal year 2023. The decrease in net sales was primarily driven by decreased unit volumes across all segments resulting primarily from decreased retail demand and increased dealer flooring program costs across all segments resulting from higher interest rates and increased inventory levels, partially offset by a favorable model mix across all segments and inflation-driven year-over-year price increases.