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Apr 04, 2021
MasterCraft Q3 2021 Earnings Report
Reported record earnings driven by year-over-year and sequential unit increases at each of segments, achieved through disciplined execution and operational excellence.
Key Takeaways
MasterCraft Boat Holdings, Inc. reported a record $147.9 million in net sales for the third quarter of fiscal year 2021, a 44 percent increase compared to the prior-year period. Net income was $17.6 million, or $0.93 per diluted share, compared to a net loss of $36.7 million, or ($1.96)per share, for the prior-year period.
Delivered the most profitable quarter in the Company’s history
Net sales increased to a record $147.9 million, up 44 percent from $102.6 million in the prior-year period
Gross margin expanded by 450 basis points to 25.2%
Diluted Adjusted Net Income per share was a record $1.01, a 120 percent increase from $0.46 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 increased production rates in each segment over the course of the third quarter, we are once again raising our guidance for fiscal 2021.
Positive Outlook
- Strong retail demand trends
- Historically low dealer inventory
- Strength of order book across brands
- Increased production rates in each segment
- Consolidated net sales growth is expected to be approaching 40 percent
Challenges Ahead
- Continued inefficiencies in production
- Navigating through supply chain disruptions
- Adjusted EBITDA margins approaching 17 percent
- Adjusted Earnings per share growth up in the high 120 percent range year-over-year
Historical Earnings Impact
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Avg. Return Before/After Earnings
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