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Apr 03, 2022
MasterCraft Q3 2022 Earnings Report
Reported record results for the fiscal third quarter, marking the sixth consecutive record-setting quarter.
Key Takeaways
MasterCraft Boat Holdings, Inc. reported a strong fiscal 2022 third quarter with record net sales, diluted adjusted earnings per share, and adjusted EBITDA. Net sales increased by 26.3% year-over-year to $186.7 million, and net income increased by 19.2% to $20.9 million.
Delivered the most profitable quarter in the Company’s history; the sixth consecutive record-setting quarter.
Net sales for the third quarter increased to $186.7 million, up 26.3% from the prior-year period.
Net income was $20.9 million, up 19.2%.
Diluted Net Income per share was $1.13, up 21.5%.
Revenue by Segment
Forward Guidance
The Company’s outlook is as follows: For full year fiscal 2022, consolidated net sales growth is expected to be up in the 30 percent range. Because of supply chain disruption and inflationary pressures, combined with operational challenges at NauticStar, we expect our Adjusted EBITDA margins to be in the high-16 percent range. We expect Adjusted Earnings per share growth to be up in the 30 percent range year-over-year. Due to project delays driven by supply chain disruptions and labor challenges, we are lowering our capital expenditures estimate to $20 million for the full year.
Positive Outlook
- Consolidated net sales growth is expected to be up in the 30 percent range.
- Adjusted EBITDA margins to be in the high-16 percent range.
- Adjusted Earnings per share growth to be up in the 30 percent range year-over-year.
Challenges Ahead
- Supply chain to remain constrained.
- Inflationary pressures to continue to weigh on margins.
- Production inefficiencies to continue to weigh on margins.
- Operational challenges at NauticStar
Historical Earnings Impact
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Avg. Return Before/After Earnings
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