MasterCraft yesterday announced financial results for its fiscal second quarter.
Net sales were $63.4 million, down $26.4 million or 29.4% from the prior-year period. The decrease in net sales was primarily due to planned lower unit volumes and an unfavorable model mix.
Income from continuing operations was $400,000, and adjusted net income was $1.7 million. Adjusted EBITDA was $3.5 million, down $9.4 million year-over-year. The company reported that all debt has been paid, leaving $62.9 million in cash and investments.
“Our business executed well during our fiscal second quarter by delivering results above expectations despite macroeconomic and retail environment headwinds,” CEO Brad Nelson said in a statement. “Early boat-show season results have been encouraging, especially with strong demand for our new, ultra-premium XStar lineup, which has provided positive momentum as we near the summer selling season.”
In providing guidance for the remainder of fiscal year 2025, MasterCraft said it expects consolidated net sales between $275 million and $295 million, with adjusted EBITDA between $19 million and $24 million.
