NASDAQ$MCFT

MasterCraft Boat Holdings Inc · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

MasterCraft reported record earnings for the second quarter of fiscal year 2021.

MasterCraft Boat Holdings, Inc. announced financial results for its fiscal 2021 second quarter ended January 3, 2021, with net sales increasing to $118.7 million, up 19 percent from the prior-year period, and net income increasing to $12.5 million, or $0.66 per diluted share.

  • Most profitable second quarter in the Company’s history
  • Net sales increased to $118.7 million, up 19 percent from $99.6 million in the prior-year period
  • Net income was $12.5 million or $0.66 per diluted share, a 78 percent increase from $0.37 in the prior-year period
  • Diluted Adjusted Net Income per share, a non-GAAP measure, was $0.75, a 74 percent increase from $0.43 in the prior-year period

Headline financials

Total Revenue

$119M

Previous: $99.6M+19.1%
EPS (adj)

$0.75

Previous: $0.43+74.4%
Adjusted EBITDA Margin

17.9%

Previous: 13.6%+31.6%
Gross Margin

24.7%

No prior period
Capital Expenditures

-$17M

Previous: -$7.17M-136.3%
Free Cash Flow

-$4.45M

Previous: -$294K-1413.6%
Net Income

$12.5M

Previous: $6.88M+81.7%
Operating Income

$16.9M

Previous: $10.3M+64.0%
Gross Profit

$29.3M

Previous: $21.1M+38.5%
Cash & Equivalents

$12.1M

Previous: $5.45M+121.6%
Total Assets

$227M

Previous: $246M-7.6%
Stock-Based Comp

$643K

Previous: $32K+1909.4%

Revenue & EPS history

MasterCraft · Revenue · Quarterly

$119M

Q2 2021+19.1%vs Q2 2020
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

MasterCraft · $82.8M total across 1 segment · Q2 2021

  • MasterCraft
    $82.8M+22.1%

Forward guidance

Due to a continuation of strong retail demand trends, historically low dealer inventory, the strength of our order book across our brands, and the increasing production rates we delivered in each segment over the course of the quarter, we are raising our guidance for fiscal 2021.

Tailwinds

  • Strong retail demand trends
  • Historically low dealer inventory
  • Strength of order book across brands
  • Increasing production rates in each segment
  • Raising guidance for fiscal 2021

Headwinds

  • Assumes operation of all facilities throughout the year without any COVID-19 related disruptions
  • Consolidated net sales is expected to grow in the mid to high 30 percent range year-over-year
  • Adjusted EBITDA margins in the low 15 percent range
  • Adjusted Earnings per share growth approaching 100 percent year-over-year
  • Consolidated net sales is expected to be up in the mid-30 percent range year-over-year

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2021

Historical avgQ2 2021

+1.8%

Avg return

Earnings day

+1.8%

Avg return

5 days after

+1.4%

Avg return

30 days after

65%

30 / 46 earnings

Positive

+28.5%

Q1 2025

Best reaction

-20.5%

Q4 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2026+1.5%+3.1%-9.0%
Q2 2026+6.4%+4.5%-14.7%
Q1 2026+6.7%-10.7%-15.6%
Q4 2025+10.2%+5.0%+4.4%
Q3 2025+11.6%+12.5%+13.1%
Q1 2025+28.5%+24.1%+15.0%
Q3 2024+0.8%+4.4%+2.8%
Q2 2024+5.0%+14.6%+5.3%
Q1 2024-5.9%-8.6%-2.0%
Q4 2023-12.8%-8.3%-11.0%
Q3 2023-4.0%-2.3%+4.0%
Q2 2023+5.8%+7.2%+4.0%
Q1 2023+9.5%+9.2%+13.7%
Q4 2022-10.9%-8.9%-17.4%
Q3 2022-5.0%-3.9%-6.1%
Q2 2022+3.0%+10.2%+1.6%
Q1 2022+1.6%+3.4%-3.5%
Q4 2021+1.4%-2.5%-1.7%
Q3 2021+11.2%+12.2%-10.6%
Q2 2021-3.1%-5.9%+7.8%
Q1 2021+4.1%+7.1%+4.6%
Q4 2020-20.3%-25.6%-11.0%
Q3 2020+4.2%+12.6%+72.2%
Q2 2020+11.7%+9.1%-14.0%
Q1 2020+7.7%+4.8%-2.8%
Q4 2019-20.5%-18.7%-21.8%
Q3 2019+2.7%+1.8%-16.5%
Q2 2019-9.7%-8.2%-5.3%
Q1 2019-15.4%-14.5%-30.8%
Q4 2018+23.2%+32.4%+21.7%
Q3 2018+8.7%+12.6%+18.4%
Q2 2018+15.7%+6.8%+16.1%
Q1 2018-4.4%-0.7%+3.6%
Q4 2017+1.2%+2.5%+24.6%
Q3 2017+7.1%+5.5%+5.7%
Q2 2017+0.3%+3.7%+9.1%
Q1 2017+9.5%+7.7%+18.8%
Q4 2014-6.7%-14.9%-8.3%
Q4 2016-8.5%-14.0%-9.4%
Q3 2015+7.0%
Q3 2016+5.4%
Q2 2015-2.4%
Q2 2016-2.3%
Q1 2015+5.8%
Q1 2016+3.2%
Q4 2015-7.8%
Q3 2014
Q2 2014
Q1 2014

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