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Mar 31
Malibu Boats Q3 2025 Earnings Report
Reported financial results for the third quarter ended March 31, 2025
Key Takeaways
Malibu Boats, Inc. reported a strong third quarter for fiscal year 2025, with significant increases in net sales, gross profit, GAAP net income, and Adjusted EBITDA compared to the same period last year, despite ongoing market challenges and softness in retail demand. The company saw increased unit volumes in the Malibu segment and favorable model mix across all segments, partially offset by decreased unit volumes in the Cobalt and Saltwater Fishing segments.
Net sales increased 12.4% to $228.7 million compared to the third quarter of fiscal 2024.
GAAP net income increased 119.4% to $13.2 million, and GAAP diluted EPS increased 120.1% to $0.66 per share.
Adjusted EBITDA increased 16.0% to $28.3 million, with Adjusted EBITDA margin improving to 12.4%.
Unit volume increased 12.8% to 1,431 units, driven by higher wholesale shipments in the Malibu segment.
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 the full fiscal year 2025, Malibu anticipates a net sales decline ranging from 3-5% year-over-year and Adjusted EBITDA margin ranging from 9% to 10%.
Positive Outlook
- Continued focus on aligning dealer inventory levels with retail demand.
- Maintaining a clear focus on aligning dealer inventory levels with retail demand.
- Execution remains strong, as evidenced by solid gross margin performance.
- Execution remains strong, as evidenced by favorable adjusted EBITDA results.
- Confidence in robust cash flow generation, supported by a flexible cost structure.
Challenges Ahead
- Softer-than-anticipated retail trends.
- Ongoing market uncertainty.
- Updating full-year guidance to reflect current conditions.
- Anticipates net sales decline ranging from 3-5% year-over-year.
- Continuing to monitor international trade policy and tariff rates and their long term impact on the company.
Revenue & Expenses
Visualization of income flow from segment revenue to net income