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Jun 30, 2024
MasterCraft Q4 2024 Earnings Report
MasterCraft's financial performance declined due to lower sales volume and challenging economic conditions.
Key Takeaways
MasterCraft Boat Holdings reported a significant decrease in net sales and profitability for the fourth quarter of fiscal year 2024. Net sales decreased by 59.7% compared to the prior-year period, resulting in a net loss from continuing operations and a decline in adjusted EBITDA. The company is focused on prioritizing dealer health and managing inventory levels in a competitive retail landscape.
Net sales for the fourth quarter decreased by 59.7% year-over-year, reaching $67.2 million.
The company reported a net loss from continuing operations of ($8.1) million, or ($0.49) per diluted share.
Adjusted EBITDA decreased by 97.4% to $0.8 million, reflecting lower sales volume and margins.
MasterCraft executed share repurchases of $4.5 million during the quarter, returning capital to shareholders.
Revenue by Segment
Forward Guidance
MasterCraft anticipates net sales between $265 million and $300 million, with Adjusted EBITDA between $15 million and $26 million, and Adjusted Earnings per share of between $0.36 and $0.87 for full year fiscal 2025. For fiscal first quarter 2025, consolidated net sales are expected to be approximately $61 million, with Adjusted EBITDA of approximately $2 million, and Adjusted Earnings per share of approximately $0.04.
Positive Outlook
- Destocking efforts are positive for dealer health.
- Production plan optimizes dealer inventory levels.
- Positions well to capitalize on the next market upswing.
Challenges Ahead
- Current market uncertainties have short-term implications for wholesale shipments.
- Economic and retail uncertainty.
- Elevated interest rates.
- Lingering competitor dealer disruptions.
- Above optimal inventory levels and increased carrying costs for dealers.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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