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MasterCraft manufactures powerboats for recreational customers through three brands. The company's long-term financials show modest growth and good margins with some long-term operating leverage. MasterCraft's FY2024 is going to be poor due to the macroeconomic situation and retailers' lowering inventory needs, as represented by the very poor guidance.
MasterCraft Boat Holdings, Inc. (MCFT) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
MasterCraft Boat Holdings, Inc., a manufacturer of recreational power boats, is currently trading at 52-week lows. Despite a rock-solid balance sheet, reasonable valuations, and recent buying by a beneficial owner, the stock faces additional, potential downside due to cyclical headwinds. A full investment analysis on MasterCraft Boat Holdings follows in the paragraphs below.
VONORE, Tenn., Oct. 25, 2023 (GLOBE NEWSWIRE) -- MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) (the “Company”) will host a live webcast of its fiscal first quarter 2024 earnings conference call on Wednesday, November 8, 2023, at 8:30 a.m.
MasterCraft shares have underperformed the small cap Russell 2000 Index, falling over 14% in 2023. The company has gained market share organically and benefits from favorable demographic trends. Despite disappointing guidance for the current fiscal year, MasterCraft has a pristine balance sheet and offers long-term upside potential.
Record earnings and sales are over for this boat maker.
MasterCraft Boat's (MCFT) fiscal fourth-quarter top line reflects lower sales volumes, a less favorable model mix and increased dealer incentives.
Shares of MasterCraft Boat Holdings Inc. tumbled Wednesday but bounced well off their worst levels of the day, as the recreational-powerboat maker suggested there could be upside to its disappointing full-year outlook.
Net sales fell 15% in the fiscal fourth quarter of 2023. The number of unsold boats at dealers will weigh on sales in the near term.
MasterCraft Boat Holdings (NASDAQ:MCFT) stock plunged in Wednesday's early deals after the speedboat maker warned investors of significant uncertainty over demand amidst the economic downturn. The company - which typically sells no models of its flagship XStar speedboat for around $300,000 apiece – said sales for the fourth quarter were down 15.5% at $166.6 million, ahead of market expectations pitched at $162.1 million.