MasterCraft Boat Sees FY24 Sales $390M - $420M Vs. $569.27M Est., Adj. EPS $1.46 - $1.88 Vs. $3.94 Est.
Portfolio Pulse from Benzinga Newsdesk
MasterCraft Boat has projected its FY24 sales to be between $390M and $420M, significantly lower than the estimated $569.27M. The company also expects its adjusted EPS to be between $1.46 and $1.88, lower than the estimated $3.94. This is due to the anticipation of a downturn in the economy, elevated interest rates, tightening credit standards, and reduced retail demand visibility. Despite the expected decline in earnings, the company plans to generate positive free cash flow through cost control efforts.
August 30, 2023 | 11:39 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
MasterCraft Boat's FY24 sales and EPS projections are significantly lower than estimates due to anticipated economic downturn and tightening credit standards. Despite this, the company plans to generate positive free cash flow.
MasterCraft Boat's lower than expected FY24 sales and EPS projections are likely to negatively impact its stock price in the short term. The company's anticipation of an economic downturn, elevated interest rates, and tightening credit standards could lead to reduced investor confidence. However, the company's plan to generate positive free cash flow despite the expected decline in earnings could potentially mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100