Mastercraft Boat Holdings Inc Stock Price, News & Analysis

MasterCraft Boat Company, a subsidiary of MasterCraft Boat Holdings (NASDAQ: MCFT), recently hosted a successful dealer meeting at its Tennessee factory. The event brought together the company's dealer network for a day focused on education, celebration, and innovation. As the world's best-selling towboat brand, MasterCraft used this gathering to honor its legacy while introducing new initiatives for the future.

The meeting provided an opportunity for dealers to strengthen partnerships and gain insights into MasterCraft's latest advancements. While specific details of new products or strategies were not disclosed, the event emphasized the company's commitment to maintaining its leadership position in the towboat industry through continued innovation and strong dealer relationships.

MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) has announced an agreement to sell its boat manufacturing plant in Merritt Island, Florida. This sale follows the company's previous decision to transfer the rights of its Aviara brand to a third party. The buyer, RMI Holdings, Inc., is the parent company of Regal Boats. CEO Brad Nelson expressed satisfaction with the transaction, highlighting the buyer's local presence and potential to continue the area's boat-building tradition. The sale is expected to strengthen MasterCraft's financial position, providing flexibility for strategic initiatives focused on their core brands: MasterCraft, Crest, and Balise. The deal is anticipated to close in the company's fiscal second quarter, subject to customary conditions.

MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) reported financial results for fiscal 2024. Net sales for Q4 were $67.2 million, down 59.7% year-over-year, with a net loss of $8.1 million. Full-year net sales were $366.6 million, down 44.6%. The company faced challenges due to economic uncertainty and a competitive retail landscape. Key points include:

- Q4 Adjusted EBITDA: $0.8 million, down 97.4%
- Full-year net income: $8.7 million, or $0.51 per diluted share
- Full-year Adjusted EBITDA: $32.9 million, down 74.9%
- Cash and investments: $86.2 million
- Total debt: $49.3 million

MasterCraft plans to transfer rights to its Aviara brand. For fiscal 2025, the company projects net sales between $265-300 million and Adjusted EBITDA of $15-26 million.

MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) has announced its upcoming fiscal fourth quarter and full year 2024 earnings conference call, scheduled for Thursday, August 29, 2024, at 8:30 a.m. EDT. The company will host a live webcast of the call, featuring CEO Brad Nelson and CFO Tim Oxley discussing financial results. A pre-market earnings release will be issued on the same day. Interested parties can access the webcast through the investor section of MasterCraft's website or participate via telephone by registering in advance. A replay of the conference call and webcast will be available on the company's website following the event.

MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) has announced an asset exchange agreement with MarineMax's subsidiary, Cruisers Yachts, for the Aviara brand of luxury dayboats. Key points include:

• MasterCraft will transfer Aviara brand ownership and related assets to Cruisers Yachts
• MarineMax will pay for current orders and assume customer care and warranty responsibilities
• MasterCraft will close its Merritt Island, Florida facility and offer it for sale
• The Aviara segment will be reported as discontinued operations from Q1 FY2025

This strategic move aims to optimize MasterCraft's cost structure and focus on its core brands: MasterCraft, Crest, and Balise. The transaction is expected to close in Q1, subject to customary conditions.

Avaya has announced the appointment of Kamilah Thomas as the new Senior Vice President and Chief People Officer (CPO), effective June 3. Based in Morristown, New Jersey, Thomas will lead Avaya's global human resources and culture transformation efforts, directly reporting to CEO Alan Masarek. Thomas, who brings over 20 years of global HR leadership experience, will focus on advancing the company's culture and DEI&B initiatives. Her previous roles include SVP, People and Workplace Experience at Roku and Chief People Officer at Dow Jones & Company. This leadership change is a part of Avaya's ongoing efforts to evolve its workplace into a dynamic and inclusive environment.

MasterCraft Boat Holdings, Inc. reported financial results for Q3 fiscal 2024. Net sales were $95.7 million, down 42.6% YoY. Net income was $3.8 million, diluted EPS $0.23. Adjusted Net Income per share was $0.37, down 72.8%. Adjusted EBITDA was $9.7 million, down 70.7%. Company ended the quarter with $105.7 million cash and investments. CEO Brad Nelson highlighted strong business foundation and announced the launch of new luxury pontoon brand, Balise, to drive growth and innovation.