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Jan 03, 2021
MasterCraft Q2 2021 Earnings Report
MasterCraft reported record earnings for the second quarter of fiscal year 2021.
Key Takeaways
MasterCraft Boat Holdings, Inc. announced financial results for its fiscal 2021 second quarter ended January 3, 2021, with net sales increasing to $118.7 million, up 19 percent from the prior-year period, and net income increasing to $12.5 million, or $0.66 per diluted share.
Most profitable second quarter in the Company’s history
Net sales increased to $118.7 million, up 19 percent from $99.6 million in the prior-year period
Net income was $12.5 million or $0.66 per diluted share, a 78 percent increase from $0.37 in the prior-year period
Diluted Adjusted Net Income per share, a non-GAAP measure, was $0.75, a 74 percent increase from $0.43 in the prior-year period
Revenue by Segment
Forward Guidance
Due to a continuation of strong retail demand trends, historically low dealer inventory, the strength of our order book across our brands, and the increasing production rates we delivered in each segment over the course of the quarter, we are raising our guidance for fiscal 2021.
Positive Outlook
- Strong retail demand trends
- Historically low dealer inventory
- Strength of order book across brands
- Increasing production rates in each segment
- Raising guidance for fiscal 2021
Challenges Ahead
- Assumes operation of all facilities throughout the year without any COVID-19 related disruptions
- Consolidated net sales is expected to grow in the mid to high 30 percent range year-over-year
- Adjusted EBITDA margins in the low 15 percent range
- Adjusted Earnings per share growth approaching 100 percent year-over-year
Historical Earnings Impact
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Avg. Return Before/After Earnings
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