Malibu Boats Reports First Quarter Results
November 1, 2024
The company reported revenue of $171.6 million for the period, and net sales were down in its three segments.
The company reported revenue of $171.6 million for the period, and net sales were down in its three segments.
The builder reported revenues of $1.43 billion and an order back log of $2.87 billion that extends into 2029.
The recreational equipment company, the parent of several marine brands, reported net sales of $172.5 million.
Overall net sales were up 7%, but the electrical solutions segment, which includes marine, posted a $9 million decrease.
Revenues of $524.2 million were down from $594.3 million as “performance for the quarter was below our expectations.”
Marine and protective coatings revenue increased 4% from $804.2 million to $836.77 million during the first six months of the year.
Net sales were down 18% year-over-year, but the Sweden-based builder and EdgeWater parent gained North American market share.
The electric boat and outboard manufacturer said it has recurring losses and has not achieved profitable operations since its inception.
First quarter sales growth in the Utility Solutions segment was driven by acquisitions, as well as strength in grid protection and controls products.
The manufacturer of electric personal watercraft produced 243 Orca PWC units in the fourth quarter, with preorders at 2,442.
The company reported revenue of $171.6 million for the period, and net sales were down in its three segments.
The builder reported revenues of $1.43 billion and an order back log of $2.87 billion that extends into 2029.
The recreational equipment company, the parent of several marine brands, reported net sales of $172.5 million.
Overall net sales were up 7%, but the electrical solutions segment, which includes marine, posted a $9 million decrease.
Revenues of $524.2 million were down from $594.3 million as “performance for the quarter was below our expectations.”
Marine and protective coatings revenue increased 4% from $804.2 million to $836.77 million during the first six months of the year.
Net sales were down 18% year-over-year, but the Sweden-based builder and EdgeWater parent gained North American market share.
The electric boat and outboard manufacturer said it has recurring losses and has not achieved profitable operations since its inception.
First quarter sales growth in the Utility Solutions segment was driven by acquisitions, as well as strength in grid protection and controls products.
The manufacturer of electric personal watercraft produced 243 Orca PWC units in the fourth quarter, with preorders at 2,442.
