Malibu Boats Q4 net loss of $18M on $100M litigation charge; FY24 guidance weak

MALIBU BOATS, INC.

2023-FY EPS reported $5.06 revenue$1,388,365,000

Net sales up 5.4% to $372.3M; unit volume down 1.8% to 2,550 units.
Net loss of $18.0M vs net income of $49.7M a year ago; $100M product liability settlement recognized.
Adjusted EBITDA rose 21.9% to $90.1M; Adjusted diluted EPS up 22.6% to $2.98.
Saltwater Fishing segment net sales up 33.6% to $128.7M; Malibu segment down 9.4%.
FY24 guidance: net sales decline mid-to-high teens YoY; Adj EBITDA margin down 300-400 bps.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MALIBU BOATS, INC. reported fourth quarter and fiscal year ended June 30, 2023 results: revenue Net sales increased 5.4% to $372.3 million, net income Net income decreased 136.3% to a net loss of $18.0 million, EPS Net income available to Class A Common Stock per share (diluted) decreased 137.2% to a net loss of $0.86 per share.

Period: fourth quarter and fiscal year ended June 30, 2023
Revenue: Net sales increased 5.4% to $372.3 million
Net income: Net income decreased 136.3% to a net loss of $18.0 million
EPS: Net income available to Class A Common Stock per share (diluted) decreased 137.2% to a net loss of $0.86 per share
Result: reported results

Exact text from the filing

financial results for the fourth quarter and fiscal year ended June 30, 2023. Fourth Quarter Fiscal 2023 Highlights Compared to Fourth Quarter Fiscal 2022 • Net sales increased 5.4% to $372.3 million • Unit volume decreased 1.8% to 2,550 units • Gross profit increased 14.3% to $102.5 million • General and administrative expenses increased to $118.0 million

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Source: SEC EDGAR

accession 0001590976-23-000064

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