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Sep 30, 2023
Malibu Boats Q1 2024 Earnings Report
Malibu Boats' financial results decreased in Q1 2024 compared to the same period last year
Key Takeaways
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.
Net sales decreased 15.3% to $255.8 million.
Unit volume decreased 24.1% to 1,698 units.
Gross profit decreased 23.9% to $56.8 million.
Net income decreased 42.5% to $20.8 million.
Malibu Boats
Malibu Boats
Malibu Boats Revenue by Segment
Revenue by Segment
Malibu Revenue
CapyFin.comSaltwater Fishing Revenue
CapyFin.comCobalt Revenue
CapyFin.com Forward Guidance
For fiscal year 2024, Malibu anticipates net sales decline percentage in the high teens to low twenties year-over-year and Adjusted EBITDA margin down 350-450 basis points year-over-year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income