MasterCraft Boat Shares Spiral Down On Downbeat Outlook
Portfolio Pulse from Shivani Kumaresan
MasterCraft Boat Holdings Inc reported a Q4 FY23 sales decline of 15.5% YoY to $166.57 million, beating the analyst consensus. However, gross profit plunged 24.9% YoY and the gross margin compressed by 320 basis points. The company expects Q1 FY24 sales of about $98 million, significantly lower than the Street view of $133.58 million. The company's shares are trading lower by 12.9%.
August 30, 2023 | 3:29 pm
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NEGATIVE IMPACT
MasterCraft Boat's Q4 FY23 sales beat analyst consensus but shares are down due to a downbeat outlook for Q1 FY24.
MasterCraft Boat's Q4 FY23 sales beat analyst consensus, which is a positive sign. However, the company's downbeat outlook for Q1 FY24, expecting sales significantly lower than the Street view, has negatively impacted the stock price. This indicates that investors are concerned about the company's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100