Malibu Boats Releases FY25 Q2 Results
January 31, 2025
Net sales of $200.3 million were a decline of 5.1% compared with the previous-year quarter, while gross margin grew 18.7%.
Net sales of $200.3 million were a decline of 5.1% compared with the previous-year quarter, while gross margin grew 18.7%.
Steven D. Menneto joins the company from Polaris, where he was president of the Off-Road Vehicle Division.
A 45.8% decline year-over-year was driven by subdued retail demand and elevated inventory levels.
M&T Bank claims Tommy’s Boats, which has filed a lawsuit against Malibu Boats, owes more than $115.9 million in principal and more than $2.2 million in interest.
The builder alleges that Tommy’s Boats ordered all the boats it was sold and sold boats out of trust.
Tommy’s Boats alleges that Malibu and CEO Jack Springer delivered nearly $100 million of inventory to Tommy’s dealerships to “artificially inflate” its stock value and market share.
Current COO Ritchie Anderson is promoted to president and current chair Michael Hooks takes over the board while a search for a new CEO gets underway.
The company reported a decline in net sales of 37.7% year-over-year and gross margin of 17.8%.
Bruce Beckman comes to the company with extensive finance and operations management experience.
Net sales were down 15.3%, and gross profit declined 23% on a year-over-year basis.
Net sales of $200.3 million were a decline of 5.1% compared with the previous-year quarter, while gross margin grew 18.7%.
Steven D. Menneto joins the company from Polaris, where he was president of the Off-Road Vehicle Division.
A 45.8% decline year-over-year was driven by subdued retail demand and elevated inventory levels.
M&T Bank claims Tommy’s Boats, which has filed a lawsuit against Malibu Boats, owes more than $115.9 million in principal and more than $2.2 million in interest.
The builder alleges that Tommy’s Boats ordered all the boats it was sold and sold boats out of trust.
Tommy’s Boats alleges that Malibu and CEO Jack Springer delivered nearly $100 million of inventory to Tommy’s dealerships to “artificially inflate” its stock value and market share.
Current COO Ritchie Anderson is promoted to president and current chair Michael Hooks takes over the board while a search for a new CEO gets underway.
The company reported a decline in net sales of 37.7% year-over-year and gross margin of 17.8%.
Bruce Beckman comes to the company with extensive finance and operations management experience.
Net sales were down 15.3%, and gross profit declined 23% on a year-over-year basis.
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