Malibu Boats, Inc. Announces Second Quarter Fiscal 2022 Results

About this update from Malibu Boats, Inc.

[{"type":"text","content":"LOUDON, Tenn., Feb. 08, 2022 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU) today announced its financial results for the second quarter ended December 31, 2021. Fiscal Second Quarter 2022 Highlights Compared to Fiscal Second Quarter 2021: Net sales increased 34.9% to a record $263.9 millionUnit volume increased 19.0% to a record 2,073 unitsGross profit increased 28.4% to a record $63.6 millionNet income increased 39.9% to a record $31.0 millionAdjusted EBITDA increased 23.0% to a record $48.1 millionNet income available to Class A Common Stock per share (diluted) increased 39.6% to a record $1.41 per shareAdjusted fully distributed net income per share increased 23.0% to a record $1.50 per share on a fully distributed weighted average share count of 21.7 million shares of Class A Common Stock \"We delivered another tremendous quarter with net sales increasing 34.9%, net income rising 39.9% and Adjusted EBITDA growing 23.0% compared to the prior year. The combination of our industry-leading brands, loyal customers, and unparalleled commitment and dedication of our team consistently generates outstanding results and again sets us apart from our competition,” commented Jack Springer, Chief Executive Officer of Malibu Boats, Inc. “Throughout the quarter, inflationary pressures and supply chain constraints persisted, but our tried-and-true operational agility allowed us to once again outperform the market.” “Demand has shown no sign of waning, and the consumer appetite for feature-rich, larger boats remains plentiful, which drove unpredictably strong ASPs,\" continued Mr. Springer. “Despite lower volumes due to ongoing supply chain pressures, the proactive steps we have taken to protect and expand margins, while maintaining our focus on delivering best-in-class, innovative products position us incredibly well as we enter the second half of fiscal year 2022. As a result, we remain confident in our ability to drive long-term value for our stakeholders.” Fiscal Second Quarter 2022 Results (Unaudited) Three Months Ended December 31, Six Months Ended December 31, 2021 2020 2021 2020 (Dollars In Thousands)Net Sales$263,887 $195,647 $517,384 $376,631 Gross Profit$63,551 $49,489 $123,303 $95,230 Gross Profit Margin 24.1% 25.3% 23.8% 25.3%Net Income$30,979 $22,147 $58,912 $44,185 Net Income Margin 11.7% 11.4% 11.4% 11.7%Adjusted EBITD...

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