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Malibu Boats, Inc. - MBUU STOCK NEWS

Welcome to our dedicated page for Malibu Boats news (Ticker: MBUU), a resource for investors and traders seeking the latest updates and insights on Malibu Boats stock.

Malibu Boats, Inc. (NASDAQ: MBUU) is a premier designer, manufacturer, and marketer of a wide range of recreational powerboats. Founded in 1982 and headquartered in Loudon, Tennessee, Malibu Boats, Inc. leads the industry in performance sport boats through its flagship brands, Malibu and Axis, and is renowned for its patented wake and wave creation technologies. The company's product lineup also includes Cobalt Boats, which excels in the sterndrive boat segment, and Pursuit Boats, which specializes in high-end offshore and outboard motorboats. In 2021, Malibu further expanded its portfolio by acquiring Maverick Boat Group, enhancing its offerings in the flat fishing boat market.

The company operates multiple manufacturing facilities, with Malibu and Axis boats handcrafted along the Tennessee River and in North Albury, New South Wales, Australia. Each boat is engineered with luxury, technology, and quality in mind, catering to a diverse clientele of water sports enthusiasts, including wakeboarders, surfers, and skiers. Additionally, Malibu offers a unique 3D boat configurator on their websites, allowing customers to customize their dream boats.

Malibu Boats, Inc. has a robust financial footprint, boasting a 14% increase in net sales for Fiscal Year 2023 compared to the previous year. The company continues to innovate, recently introducing new models like the 23 LSV and M242, which are set to redefine standards in the performance sport boat market.

Despite facing a challenging macroeconomic environment, Malibu Boats remains confident in its operational prowess and strategic initiatives. The company is committed to vertical integration, producing its own engines under the Monsoon brand, and maintains a resilient supply chain to meet market demand. Through partnerships and continuous product development, Malibu Boats aims to sustain its market leadership and provide long-term value to its shareholders.

Malibu Boats' latest financial reports indicate mixed results. While net sales increased marginally in certain segments, overall unit volume saw a decrease due to normalized inventory levels post-COVID and higher interest rates affecting dealer flooring program costs. Nevertheless, the company achieved a gross profit increase, driven by higher sales revenues and better performance in the Saltwater Fishing segment.

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Malibu Boats (Nasdaq: MBUU) has appointed Steven D. Menneto as its new CEO, effective August 5, 2024. Menneto, who will also join the Board of Directors, comes from Polaris where he was President of the Off-Road Vehicle Division. In his previous role, he nearly doubled division revenue to $7 billion over four years. Menneto's appointment ends the Office of the CEO, with Michael K. Hooks remaining as Board Chair and Ritchie Anderson as President.

Menneto's experience includes growing Polaris' Motorcycle Division, increasing Indian Motorcycle's revenue from $3 million to $500 million. The Board cited Menneto's track record of leading growth and his experience across functional areas, especially in sales and distribution management, as key factors in his selection.

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Malibu Boats, Inc. announced a decline in net sales by 45.8% in the third quarter of fiscal 2024, with significant decreases in unit volume, gross profit, GAAP net income, and Adjusted EBITDA. The company reported a net loss of $67.8 million, including impairment charges. Despite challenges in the retail market, the company remains focused on returning inventories to stable levels. Malibu Boats anticipates a continued softening in retail demand for the fiscal year 2024 but is confident in its ability to generate positive cash flow and support market growth.

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Malibu Boats, Inc. (Nasdaq: MBUU) has announced the release date for its third quarter fiscal 2024 financial results, scheduled for May 2, 2024. The company will host a conference call on the same day at 8:30 a.m. Eastern Time, led by CEO Jack Springer, CFO Bruce Beckman, and Executive Chair Michael Hooks. Investors and analysts can participate by dialing (844) 695-5523 or (412) 317-0699, or by joining the live webcast on the Investor Relations section of the company's website. A replay of the webcast will be available on the website for twelve months.
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Malibu Boats, Inc. (Nasdaq: MBUU) faces a lawsuit from Tommy’s Boats and related parties, but asserts that all boats sold to Tommy’s were ordered by them. Malibu vows to defend itself strongly while minimizing impacts on existing dealer partners and customers.
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Malibu Boats, Inc. (MBUU) CEO, Jack Springer, to participate in a fireside chat at the Raymond James 2024 Institutional Investors Conference. The chat will be held on March 5, 2024, in Orlando, Florida, with an audio webcast available on the Malibu Boats Investor website.
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Malibu Boats, Inc. announces the departure of CEO Jack Springer in May 2024, with Ritchie Anderson appointed as President and Michael Hooks as Executive Chair. The company reaffirms its fiscal year 2024 guidance with a projected decline in net sales and Adjusted EBITDA margin.
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Malibu Boats, Inc. (Nasdaq: MBUU) announced its financial results for the second quarter ended December 31, 2023, showing a decrease in net sales, unit volume, gross profit, net income, and adjusted EBITDA compared to the same period in the previous year. The company's CEO, Jack Springer, attributed the decline to weak retail demand and elevated inventory levels, but expressed optimism for a retail recovery and positive signs following the Year End Sales event.
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Malibu Boats, Inc. (Nasdaq: MBUU) will release its second quarter fiscal 2024 financial results on January 30, 2024, before the market opens. The company's management will host a conference call at 8:30 a.m. Eastern Time on the same day, led by CEO Jack Springer and CFO Bruce Beckman. Investors and analysts can join the call via dial-in or webcast.
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Axis Wake introduces the all-new T220-r for 2024, a 22-foot watersports towboat with advanced wakeboard and surf features, equipped with Surf Gate and Surf Pipe, and powered by the Malibu Monsoon M5Di™ engine. The T220-r offers a high-visibility, marine-grade touchscreen for easy control of ballast, speed, and surf side, with seating for up to 15 people and a Wet Sounds audio system with Bluetooth connection. Priced at under $89,995, the T220-r is a versatile and stylish addition to the Axis line.
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Malibu Boats announces the release of the all-new 21 LX-r, a 21-foot hull packed with value and boasting many signature wake and comfort features at a price point of $99,995. The new model raises the standard of wake and wave performance, aligning with both non-watersports-specific and watersports-specific competitors’ offerings. The 21 LX-r’s watersports performance is built on the rock-solid foundation of the Wake Plus™ hull, producing outstanding power and volume in its ocean-like surf waves for riders of all ages and sizes. The boat is powered by the tough and capable Malibu Monsoon M5Di™ and features a high-visibility dual touchscreen Malibu Command Center™ at the dash, making it as easy as selecting your wakeboard level or surf side, tapping load on the screen, and gearing up to ride.
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FAQ

What does Malibu Boats, Inc. manufacture?

Malibu Boats, Inc. designs and manufactures recreational powerboats, including performance sport boats, sterndrive boats, and high-end offshore and outboard motorboats.

Where are Malibu and Axis boats made?

Malibu and Axis boats are handcrafted in the United States along the Tennessee River in Loudon, Tennessee, and in North Albury, New South Wales, Australia.

What brands are included in Malibu Boats, Inc.'s portfolio?

Malibu Boats, Inc. owns the Malibu, Axis, Cobalt, Pursuit, and Maverick Boat Group brands.

How did Malibu Boats perform financially in Fiscal Year 2023?

Malibu Boats saw a 14% increase in net sales for Fiscal Year 2023 compared to Fiscal Year 2022, with improved financial and operational metrics despite a challenging environment.

What are some recent models introduced by Malibu Boats?

Recent models include the 23 LSV and M242 in the Malibu and Axis brands, known for their premium features and performance.

What is Malibu Boats' strategy for meeting market demand?

Malibu Boats focuses on vertical integration, producing its own engines and maintaining a resilient supply chain to meet market demand and match wholesale and retail requirements.

How can I customize a Malibu or Axis boat?

You can customize a Malibu or Axis boat using the world's first 3D boat configurator available on their respective websites.

Who is the current CEO of Malibu Boats, Inc.?

The current CEO of Malibu Boats, Inc. is Jack Springer.

What is the significance of the Monsoon brand for Malibu Boats?

The Monsoon brand represents Malibu Boats' line of engines, which are used in their performance sport boats and now in Cobalt boats as well.

Where can I find the latest financial reports for Malibu Boats, Inc.?

The latest financial reports can be found on the Investor Relations section of Malibu Boats, Inc.'s official website.

Malibu Boats, Inc.

Nasdaq:MBUU

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771.39M
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3.38%
99.32%
6.75%
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