Malibu Boats, Inc. Announces Fourth Quarter and Record Fiscal 2022 Results

About this update from Malibu Boats, Inc.

[{"type":"text","content":"LOUDON, Tenn., Aug. 25, 2022 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU) today announced its financial results for the fourth quarter and fiscal year ended June 30, 2022. Fiscal Fourth Quarter 2022 Highlights Compared to Fiscal Fourth Quarter 2021 Net sales increased 27.6% to $353.2 millionUnit volume increased 10.3% to 2,596 unitsGross profit increased 29.5% to $89.6 millionNet income increased 42.1% to $49.7 millionAdjusted EBITDA increased 28.3% to $73.9 millionNet income available to Class A Common Stock per share (diluted) increased 44.4% to $2.31 per shareAdjusted fully distributed net income per share increased 32.1% to $2.43 per share on a fully distributed weighted average share count of 21.3 million shares of Class A Common Stock Fiscal Year 2022 Highlights Compared to Fiscal Year 2021 Net sales increased 31.1% to a record $1,214.9 millionUnit volume increased 13.1% to a record 9,255 unitsGross profit increased 31.1% to a record $310.1 millionNet income increased 43.0% to a record $163.4 millionAdjusted EBITDA increased 29.7% to a record $246.5 millionNet income available to Class A Common Stock per share (diluted) increased 43.6% to a record $7.51 per shareAdjusted fully distributed net income per share increased 31.6% to a record $7.91 on a fully distributed weighted average share count of 21.6 million shares of Class A Common Stock “Our superior execution, combined with the strength of our brands and innovation, supported yet another tremendous quarter and overall record-smashing year, with net sales growing 31% and Adjusted EBITDA increasing nearly 30% over the prior year. Despite persistent supply chain headwinds, our operational excellence and advancements of our vertically integrated model have continued to shine and kept us strongly positioned as we closed out the fiscal year,” commented Jack Springer, Chief Executive Officer of Malibu Boats, Inc. “Our Model Year 2023 lineup is nothing short of enviable as we as bring even larger and more feature-rich boats to the market. Additionally, we are extremely excited about the introduction of the Pathfinder 2400 TRS, our first Maverick product launch since the acquisition, which is sure to make waves with our customers. We continue to focus on our industry-leading innovation as we expand our differentiated portfolio across all our brands, giving us a signifi...

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