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Jun 30, 2020
MasterCraft Q4 2020 Earnings Report
MasterCraft's financial performance decreased due to COVID-19 shutdowns and supplier and workforce ramp up.
Key Takeaways
MasterCraft Boat Holdings Inc. reported a decrease in net sales for the fourth quarter to $51.1 million, a 58.4 percent decrease compared to the prior-year period. The company reported a net loss of $(2.8) million, or $(0.15) per diluted share. Adjusted EBITDA was $0.9 million, compared to $23.8 million in the prior-year period.
Ended the year with stronger than anticipated retail demand across all brands.
Dealer inventories were 40 percent to 50 percent lower vs. end of fiscal 2019.
Manufacturing operations safely resumed, but production and sales were heavily impacted by COVID-19 shutdowns.
Repaid $25.0 million on revolving credit facility and ended the quarter with a strong liquidity position.
Revenue by Segment
Forward Guidance
The Company’s outlook is as follows: ▪ For full year fiscal 2021, consolidated net sales is expected to grow in the mid-20 percent range year-over-year, with Adjusted EBITDA margins in the 13 to 14 percent range, and Adjusted Earnings per share growth in the low-to-mid 40 percent range year-over-year. ▪ For the fiscal first quarter, consolidated net sales is expected to be down in the low-to-mid teens percent range year-over-year, with Adjusted EBITDA margins in the 11 to 12 percent range, and Adjusted Earnings per share down in the mid-to-high 30 percent range.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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