Malibu Boats released Q4 and fiscal full-year 2026 results today. The company said that fourth-quarter net sales climbed 42.7% to $295.5 million, capping a fiscal 2026 in which full-year net sales of $914.6 million exceeded the company’s raised guidance, according to the boatbuilder’s earnings presentation.
Adjusted EBITDA for the quarter ended June 30 grew 72.7% to $33.9 million from $19.7 million in the prior year, with adjusted EBITDA margin expanding 200 basis points to 11.5%. Gross margin rose to 17.7%, up 190 basis points year-over-year and an increase of 20 basis points sequentially from the third quarter, which the company attributed to centralized sourcing benefits.
“Fiscal 2026 demonstrated the power of our strategic execution. We delivered a strong finish to the year, driven by better-than-expected net sales, disciplined cost management, dealer network optimization, and the successful integration of Saxdor in our first four months with the business,” Malibu president and chief executive officer Steven Menneto said in a separate statement.
“We also invested meaningfully in innovation as our Model Year 2026 lineup added eleven new models across the portfolio that brought new features as well as value to our product line. The Saxdor integration is progressing well, with the completion of our first domestically built Saxdor boats at our Fort Pierce, Fla., facility expected in the first half of fiscal 2027. While we’re seeing early signs of stabilization across the industry, we are contending with macro disruptions that continue to pressure the payment buyer, which presents a near-term headwind to an inflection in the cycle. That said, we like how we’re positioned relative to the industry heading into fiscal 2027 and expect to build on the momentum we established, while remaining intentional about our outlook until we see more durable evidence of a broader recovery.”
Malibu’s combined legacy segments — Malibu and Axis wake boats, Cobalt sport boats, and its saltwater fishing brands — posted net sales of $234.3 million in the quarter, up 13.2%. The Saxdor segment contributed $61.2 million for the quarter, exceeding the high end of the company’s guidance.
Unit volume rose to 1,456 boats in the quarter from 1,221 a year earlier, while net sales per unit increased to $203,000 from $169,600. By product mix, Malibu and Axis boats accounted for 28% of the quarter’s volume, saltwater fishing boats 27%, Cobalt 24% and Saxdor 21%, compared with a mix of 39% Malibu/Axis, 35% saltwater fishing and 26% Cobalt in the year-ago quarter, before the Saxdor acquisition.
Net income attributable to Malibu Boats Inc. was $7.2 million, or 37 cents per share, for the quarter, up from $4.7 million, or 24 cents per share, from the prior year. Adjusted net income per share, which excludes acquisition-related and other one-time costs, was 90 cents for the quarter, more than double the 42 cents posted in the fourth quarter of fiscal 2025.
For the full fiscal year, net income attributable to Malibu Boats Inc. fell to $1.7 million, or 9 cents per share, from $14.9 million, or 76 cents per share, in fiscal 2025, as the company absorbed $14.8 million in acquisition and integration costs tied to Saxdor and $3.1 million in acquisition-related inventory step-up amortization. Adjusted net income per share for the year was $1.52, compared with $1.58 in fiscal 2025.
Malibu’s board separately authorized a new $70 million share repurchase program for fiscal 2027.
Looking ahead, Malibu guided for consolidated net sales of $1.08 billion to $1.12 billion and adjusted EBITDA of $101 million to $109 million for fiscal 2027.
