Malibu Boats, Inc. Announces Second Quarter Fiscal 2025 Results

About this update from Malibu Boats, Inc.

[{"type":"text","content":"LOUDON, Tenn., Jan. 30, 2025 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU) today announced its financial results for the second quarter ended December 31, 2024. Second Quarter Fiscal 2025 Highlights Compared to Second Quarter Fiscal 2024: Net sales decreased 5.1% to $200.3 millionUnit volume decreased 11.0% to 1,222 unitsGross profit decreased 0.2% to $37.4 millionGAAP net income decreased 76.1% to $2.4 millionGAAP net income available to Class A Common Stock per share (diluted) decreased 76% to $0.12 per shareAdjusted EBITDA decreased 26.3% to $16.9 millionAdjusted fully distributed net income per share decreased 46% to $0.31 per share on a fully distributed weighted-average share count of 20.4 million shares of Class A Common Stock \"During the second quarter, we navigated a challenging marine environment by leveraging our strong brand portfolio of industry-leading innovation while maintaining an unwavering focus on dealer health,\" commented Steve Menneto, Chief Executive Officer of Malibu Boats, Inc. \"While retail softness persists, particularly in our saltwater markets, our emphasis on maintaining disciplined channel inventory levels and prudent production is our focus heading into the second half of the fiscal year. Our Year-End Sales event and early season boat shows provided decent results, however, we are seeing a less prominent rebound in demand heading into selling season. We will continue to monitor in-season shows to gain further indicators of consumer interest but remain cautious.\" \"As we look to the second half of the year, we are adjusting our production levels to match a challenging retail environment as we head into the selling season, as indicators of demand are below our original assumptions. Based on these conditions, we are updating our full-year guidance to reflect the reality of weaker retail market trends,\" commented Bruce Beckman, Chief Financial Officer of Malibu Boats, Inc. \"Our priority is maintaining dealer health and aligning production with demand levels to set the stage for long-term success. With a strong balance sheet and continued cash flow generation, we remain confident in weathering the near-term challenges while positioning Malibu for sustainable future growth.\" Second Quarter Fiscal 2025 Results (Unaudited) Three Months Ended December 31, Six Months Ended December 31, 2024 2...

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