NASDAQ$MCFT
MasterCraft Boat Holdings Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
MasterCraft Boat Holdings reported a decrease in net sales and net income compared to the prior-year period, while facing headwinds from slowing retail sales and higher dealer inventories.
MasterCraft Boat Holdings reported a decrease in net sales and net income for the fourth quarter of fiscal year 2023. Net sales decreased by 15.5% to $166.6 million, and net income decreased by 31.2% to $23.1 million, or $1.32 per diluted share. The company faced challenges from slowing retail sales, higher dealer inventories, and macroeconomic uncertainties.
- Net sales for the fourth quarter decreased by 15.5% year-over-year to $166.6 million.
- Net income from continuing operations decreased by 31.2% year-over-year to $23.1 million, or $1.32 per diluted share.
- Adjusted EBITDA decreased by 31.3% year-over-year to $32.7 million.
- Dealer inventories ended fiscal 2023 at levels higher than optimal due to slowing retail sales.
Headline financials
Revenue & EPS history
MasterCraft · Revenue · Quarterly
$167M
Revenue by segment
MasterCraft · $129M total across 1 segment · Q4 2023
- MasterCraft$129M-12.2%100.0%
Forward guidance
MasterCraft anticipates lower wholesale unit sales for fiscal year 2024, driven by macroeconomic factors and an uncertain economic outlook. The company expects consolidated net sales to be between $390 million and $420 million, with Adjusted EBITDA between $42 million and $52 million, and Adjusted Earnings per share between $1.46 and $1.88.
Tailwinds
- Flexible, highly-variable cost structure.
- Proactive cost control efforts.
- Plans for a range of potential retail demand scenarios.
- Production plans will allow us to rebalance dealer inventories with anticipated retail demand and keep our pipeline healthy.
- Expect to generate positive free cash flow
Headwinds
- Macroeconomic factors, including elevated interest rates, are creating significant uncertainty.
- Tightening credit standards and availability are limiting retail demand visibility.
- General expectation for an economic downturn during fiscal 2024 will likely be a headwind for the industry.
- Wholesale unit sales for fiscal 2024 will be lower than projected retail sales.
- Industry retail unit sales could be down as much as mid-teens percent for fiscal year 2024.
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 Q4 2023
+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
| Quarter | Report date | Reaction (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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