Mastercraft Boat Holdings Inc Stock Price, News & Analysis

MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) will host a live webcast of its Q1 2021 earnings conference call on November 11, 2020, at 8:30 a.m. EDT. During the call, key executives will discuss the Company's financial results following a pre-market earnings release on the same day. Interested participants can access the webcast through the investor section of the Company's website. An audio replay will be available post-call.

MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) reported its fiscal 2020 Q4 results, highlighting a 58.4% decrease in net sales to $51.1 million, with a net loss of $(2.8) million or $(0.15) per share. Full-year net sales fell 22.2% to $363.1 million, resulting in a net loss of $(24.0) million or $(1.28) per share, largely due to COVID-19 impacts. Adjusted EBITDA decreased to $0.9 million for Q4 and $44.3 million for the year. Despite challenges, the company anticipates mid-20% growth in net sales for fiscal 2021 and improved margins, driven by increased demand and low dealer inventories.

MasterCraft Boat Company, a subsidiary of MasterCraft Boat Holdings (NASDAQ: MCFT), announced the acquisition of a boat manufacturing plant in Merritt Island, Florida. This facility will serve as a dedicated manufacturing center for the Aviara brand, which produces luxury day boats. The new plant boasts over 140,000 square feet of space and is expected to begin production in early 2021. This expansion aims to enhance capacity for both Aviara and MasterCraft brands, responding to strong retail demand and supporting the company's long-term growth strategy.

MasterCraft Boat Holdings (NASDAQ: MCFT) will host a live webcast for its fourth-quarter and full-year fiscal 2020 earnings call on September 9, 2020, at 8:30 a.m. EDT. Key executives, including CEO Fred Brightbill, will discuss financial results. A pre-market earnings release will be issued prior to the call. Investors can access the webcast on the company's investor website. An audio replay will be available shortly after the call until September 23, 2020. MasterCraft is a leading manufacturer of recreational powerboats with significant market share in growing segments.

MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) has appointed Scott Womack as President of NauticStar Boats, effective immediately. Womack brings 27 years of experience from the automotive sector, previously serving as VP of U.S. Operations at Autoneum. He succeeds Jay Povlin, who has left for other opportunities. CEO Fred Brightbill expressed confidence in Womack's leadership to enhance NauticStar's operational and financial performance. The company continues its growth in key boating segments, focusing on operational excellence and value creation.

MasterCraft Boat Company has launched the NXT24 model, enhancing its offering in the 24’ inboard boat market. This new model increases the lineup to 13 and adds a third option to the NXT series. Priced under $95,000, the NXT24 features seating for 16, a spacious layout, and over 158 cubic feet of storage, appealing to both new and experienced boaters. The award-winning GEN2 Surf System offers customizable surf options, reinforcing MasterCraft's reputation for performance and quality in the recreational powerboat segment.

MasterCraft Boat Holdings (NASDAQ: MCFT) announced the repayment of $25 million of its revolving credit line on June 30, 2020. This move follows a $35 million drawdown in March due to uncertainties from the COVID-19 pandemic. CFO Tim Oxley stated that strong business performance and cash management allowed the company to maintain liquidity while reducing debt. MasterCraft, established in 1968, specializes in performance sport boats and holds a significant market share in key recreational boat segments.

MasterCraft Boat Company, a subsidiary of MasterCraft Boat Holdings (NASDAQ: MCFT), has unveiled the next generation of the ProStar for the 2021 model year. This ski boat features advanced technology and a new proprietary hull design aimed at enhancing performance and comfort. Key features include a four-fin system for improved tracking, a 10” command center screen, and a focus on quiet construction. The new ProStar seeks to set a new standard in the three-event skiing category, catering to enthusiasts and professionals alike.