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Mar 31, 2024
Malibu Boats Q3 2024 Earnings Report
Malibu Boats' financial performance declined due to softened retail demand and elevated channel inventories.
Key Takeaways
Malibu Boats reported a significant decrease in net sales, gross profit, and net income for Q3 2024, driven by decreased unit volumes across all segments and increased dealer flooring program costs. The company faced challenges due to softened retail demand and elevated channel inventories, particularly in the tow boat and value boat markets. A goodwill and other intangible asset impairment charge of $88.4 million further impacted the results.
Net sales decreased by 45.8% to $203.4 million.
Unit volume decreased by 51.9% to 1,269 units.
GAAP net income decreased 226.8% to a net loss of $67.8 million, including impairment charges.
Adjusted fully distributed net income per share decreased 75.7% to $0.63.
Revenue by Segment
Forward Guidance
For the full fiscal year 2024, Malibu anticipates net sales decline ranging from forty to forty-one percent, year-over-year, and Adjusted EBITDA margin ranging from 10.1% to 10.5%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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