Malibu Boats Posts Q4 Earnings Above Street View
Portfolio Pulse from Shivani Kumaresan
Malibu Boats Inc (NASDAQ:MBUU) reported Q4 FY23 sales growth of 5.4% YoY to $372.30 million, beating the analyst consensus. The revenue increase was driven by increased unit volumes in the Saltwater Fishing segment and a favorable model mix across all segments. Gross profit increased 14.3% YoY to $102.5 million. However, the company reported an operating loss for the quarter of $(22.6) million. The company expects FY24 sales to decline in the mid to high teens and Adjusted EBITDA margin to be down 300 to 400 basis points.
August 29, 2023 | 2:33 pm
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NEGATIVE IMPACT
Malibu Boats reported strong Q4 FY23 results, beating analyst expectations. However, the company's outlook for FY24 is negative, expecting sales to decline and EBITDA margin to decrease.
Despite the strong Q4 FY23 results, the company's negative outlook for FY24, including a decline in sales and EBITDA margin, is likely to negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100