MasterCraft reports record FY23 profit but Q4 sales down 15.5%; FY24 guide steep decline

MasterCraft Boat Holdings, Inc.

Q4 net sales $166.6M (-15.5% YoY); net income $23.1M (-31.2%); Adjusted EBITDA $32.7M (-31.3%).
Full year FY23 net sales $662.0M (+3.2% YoY); net income $90.5M (+2.9%); record operating cash flow ~$134M.
FY24 guidance: net sales $390-420M, Adjusted EBITDA $42-52M, Adjusted EPS $1.46-1.88, implying sharp declines.
Management cites elevated dealer inventories, slowing retail, and macro headwinds; production plans reduced for FY24.
Share repurchases of $22.9M in FY23 (incl. $7.0M in Q4); capital expenditures ~$22M guided for FY24.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

MasterCraft Boat Holdings, Inc. reported fiscal 2023 year ended June 30, 2023 results: revenue $662.0 million, net income $90.5 million, or $5.09 per diluted share.

Period: fiscal 2023 year ended June 30, 2023
Revenue: $662.0 million
Net income: $90.5 million, or $5.09 per diluted share
Result: reported results

Exact text from the filing

period ▪ Share repurchases of $7.0 million during the quarter Full Year Highlights: ▪ The most profitable fiscal year in the Company's history. ▪ Net sales increased to $662.0 million, up 3.2% from the prior-year period ▪ Net income from continuing operations was $90.5 million, or $5.09 per diluted share, up 2.9% and 7.8%, respectively, from the prior-year

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

MasterCraft Boat Holdings, Inc. reported its fiscal 2023 fourth quarter ended June 30, 2023 results: revenue $166.6 million, net income $23.1 million, or $1.32 per diluted share.

Period: its fiscal 2023 fourth quarter ended June 30, 2023
Revenue: $166.6 million
Net income: $23.1 million, or $1.32 per diluted share
Result: reported results

Exact text from the filing

our continuing operations, which exclude the NauticStar segment results reported as discontinued operations. Fourth Quarter Highlights: ▪ Net sales for the fourth quarter were $166.6 million, down 15.5% from the prior-year period ▪ Net income from continuing operations was $23.1 million, or $1.32 per diluted share, down 31.2% and 28.6%, respectively, from the

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Source: SEC EDGAR

accession 0000950170-23-045178

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