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Malibu Boats (MBUU) came out with quarterly earnings of $0.63 per share, beating the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $2.59 per share a year ago.
LOUDON, Tenn., April 18, 2024 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU) announced today that it will release its third quarter fiscal 2024 financial results on Thursday, May 2, 2024, before the market opens. Following the release, the company's management will host a conference call to discuss the results at 8:30 a.m. Eastern Time on the same day.
Shares of Malibu Boats Inc. fell on Monday after getting hit with a downgrade from analysts at Raymond James, who said a lawsuit against the recreational-boat maker from one of its biggest dealerships compounded already-existing difficulties related to weaker demand and a shakeup within its leadership.
Malibu Boats (MBUU) second-quarter fiscal 2024 results are hurt by weak retail demand.
Malibu missed top-line estimates as sales fell sharply. Weak demand and rising interest rates are weighing on the business.
Although the revenue and EPS for Malibu Boats (MBUU) give a sense of how its business performed in the quarter ended December 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Malibu Boats (MBUU) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $1.83 per share a year ago.
Malibu Boats' (MBUU) second-quarter fiscal 2024 results are likely to be hurt by dismal performance across all its segments and increased operating expenses.
Malibu Boats plans to release new models in 2024, which could lead to net sales growth. The company's solid network of distributors and diversified portfolio may protect it from net sales volatility. There are risks from supply chain disruptions, failed acquisitions, and goodwill impairments, but the stock is undervalued.
Malibu Boats manufactures recreational boats with eight brands and has seen steady revenue growth through organic investments & acquisitions. The company is facing difficult quarters as demand is pressured from higher interest rates, a poor macroeconomic climate, and retailers' inventory decreases from pandemic highs. Malibu Boats has a high amount of variable costs, making the earnings quite flexible and providing some safety in the turbulence.