Malibu Boats, Inc. reported a record-setting third quarter with net sales increasing by 26.0%, net income rising by 56.1%, and Adjusted EBITDA increasing by 39.9% compared to the prior year. The company shipped more units than anticipated, driven by operational excellence and the addition of Malibu Electronics which expanded their vertical integration model.
Net sales increased 26.0% to a record $344.3 million.
Unit volume increased 4.4% to a record 2,562 units.
Net income increased 56.1% to a record $54.8 million.
Adjusted EBITDA increased 39.9% to a record $79.8 million.
For fiscal year 2022, Malibu anticipates revenue growth in the 28% to 29% range year-over-year and Adjusted EBITDA margins approaching 20.5%.
Visualization of income flow from segment revenue to net income