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Oct 03, 2021
MasterCraft Q1 2022 Earnings Report
Reported record results for fiscal 2022 first quarter, with record unit sales, net sales, net income, and adjusted EBITDA.
Key Takeaways
MasterCraft Boat Holdings, Inc. reported a record-setting performance for the fourth consecutive quarter in Q1 2022. Net sales, diluted adjusted earnings per share, and adjusted EBITDA were all the highest for any first quarter in the Company’s history. The company outperformed many of its top competitors to take meaningful market share.
Delivered the most profitable first quarter in the Company’s history, with record unit sales, net sales, net income, and adjusted EBITDA.
Net sales for the first quarter increased to $144.0 million, up 38.8%.
Net income was $10.4 million or $0.55 per diluted share.
Diluted Adjusted Net Income per share, a non-GAAP measure, was $0.67, up 15.5%.
Revenue by Segment
Forward Guidance
The Company raised its guidance for the full year on the strength of its operating performance and wholesale visibility.
Positive Outlook
- For full year fiscal 2022, consolidated net sales growth is expected to be up in the 20 percent range.
- Adjusted EBITDA margins in the 18 percent range.
- Adjusted Earnings per share growth up in the 25 percent range year-over-year.
- This guidance represents another record year based on the organic growth potential of our brands.
- Now expect capital expenditures to be in the $25 million range for the full year.
Challenges Ahead
- For the second quarter of fiscal 2022, consolidated net sales growth is expected to be up in the 30 percent range.
- Adjusted EBITDA margins in the 14.5 percent range.
- Adjusted Earnings per share growth up in the 5 percent range year-over-year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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