MasterCraft reports record Q4, fiscal year results

MasterCraft Boat Holdings, Inc. recently announced record financial results for its fiscal 2022 fourth quarter and year ended June 30, 2022.

“We delivered record-setting performances for each quarter, which culminated in record net sales and adjusted earnings for the full year,” MasterCraft CEO and chairman Fred Brightbill said. “We grew our net sales by nearly 35 percent and our diluted adjusted earnings per share by more than 37 percent year-over-year, all on an organic basis. This exceptional performance was enabled by a year-over-year unit increase of more than 14 percent for the full year, resulting in the most wholesale units ever sold by the Company.”

For the fourth quarter of 2022, MasterCraft Boat Holdings, Inc. reported consolidated net sales of $217.7 million, up $62.1 million from the fourth quarter of 2021. The company said the increase was primarily due to increased sales volumes and higher prices. Higher option and content sales and favorable model mix also contributed to higher net sales according to MasterCraft.

For fiscal 2022, MasterCraft Boat Holdings, Inc. reported consolidated net sales of $707.9 million, up $182.1 million from fiscal 2021. The increase was primarily due to increased sales volume and higher prices. Higher option and content sales and favorable model mix also contributed to higher net sales.

“For the second consecutive year we achieved record-setting results, introduced an array of new and innovative products across our brands, produced industry-leading organic sales growth, and gained market share, all while navigating arguably one of the most challenging business environments in recent history,” Brightbill said. “These results would not have been possible without the hard work and dedication of our team who continue to execute against our strategic priorities.”

Click here to see the full financial report from MasterCraft.

Source: https://boatingindustry.com/news/2022/09/13/mastercraft-reports-record-q4-fiscal-year-results/