Malibu Boats, Inc. · NASDAQ:MBUU
Malibu Boats — Q1 2023 Earnings Presentation
17 slides from Malibu Boats's earnings presentation, Nov 4, 2022
Slide 1: Malibu Boats, Inc. First Quarter Fiscal 2023 Earnings Results
Malibu Boats, Inc. First Quarter Fiscal 2023 Earnings Results November 04, 2022
Slide 2: Use & Definition of Non-GAAP Financial Measure
USE & DEFINITION OF NON-GAAP FINANCIAL MEASURE This presentation includes the following financial measures defined as non-GAAP financial measures by the Securities and Exchange Commission: Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Fully Distributed Net Income and Adjusted Fully Distributed N
Slide 3: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation includes forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Forward-looking statements can be identified by such words and phrases as “believes,” “anticipates,” “expects,” “intends,” “estimates,”
Slide 4: Three Months Ended Fiscal Q1 2023
THREE MONTHS ENDED FISCAL Q1 2023 AFDNI PER SHARE (1) • Delivered strong results, exceeding expectations • Net sales are up 19.2% year-over-year to $302.2 million ◦ Driven by increased volumes in Malibu and Saltwater Fishing segments and inflation driven year-over-year price increases • Gross profi
Slide 5: Key Takeaways
KEY TAKEAWAYS • Leveraged our premium product line-up and operational excellence to post record revenues during the first quarter, despite ongoing supply chain pressures • Drawing customers across our suite of brands, with continued strong demand for larger, feature rich boats • Continuing to capita
Slide 6: Operational Excellence & Vertical Integration
OPERATIONAL EXCELLENCE & VERTICAL INTEGRATION OPERATIONAL EXCELLENCE VERTICAL INTEGRATION • Culture centered on superior employees building the highest • Vertical integration strategy is a competitive differentiator across quality products in the most efficient manner all brands, driving overall gr
Slide 7: Malibu's Growth Strategy
MALIBU’S GROWTH STRATEGY STRATEGIC ACQUISITIONS OF PREMIUM VERTICAL COMPANIES INTEGRATION PRODUCT & DISTRIBUTION WHITE INNOVATION SPACES
Slide 8: First Quarter Fiscal 2023 Comparable Results
FIRST QUARTER FISCAL 2023 COMPARABLE RESULTS NET SALES VOLUME NET SALES PER UNIT MIX COMPARISON
Slide 9: First Quarter Fiscal 2023 Comparable Results
FIRST QUARTER FISCAL 2023 COMPARABLE RESULTS GROSS MARGIN GROSS PROFIT ADJ EBITDA MARGIN (1) ADJ. EBITDA (1) 1.See Appendix for a reconciliation of Non-GAAP Adjusted EBITDA to Net Income.
Slide 10: FY23 Full Year Outlook
FY23 FULL YEAR OUTLOOK METRIC TARGET Consolidated Net Sales Mid-to-high single digit % growth Adjusted EBITDA Margin Down slightly
Slide 11: Appendix
MALIBU BOATS. INC:
Slide 12: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin
RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN The following table sets forth a reconciliation of net income as determined in accordance with GAAP to Adjusted EBITDA and presentation of net income margin and Adjusted EBITDA Margin for the periods indicated (dolla
Slide 13: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin
RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN (1) Represents equity-based incentives awarded to key employees under the Malibu Boats, Inc. Long-Term Incentive Plan and profit interests issued under the previously existing limited liability company agreement of t
Slide 14: Reconciliation of Net Income to Adjusted Fully Distributed Net Income
RECONCILIATION OF NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET INCOME OF CLASS A COMMON STOCK (UNAUDITED): The following table sets forth a reconciliation of net income attributable to Malibu Boats, Inc. to Adjusted Fully Distributed Net Income for the periods pr
Slide 15: Reconciliation of Net Income to Adjusted Fully Distributed Net Income
RECONCILIATION OF NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET INCOME OF CLASS A COMMON STOCK (UNAUDITED): The following table sets forth a reconciliation of net income attributable to Malibu Boats, Inc. to Adjusted Fully Distributed Net Income for the periods pr
Slide 16: Reconciliation of Net Income to Adjusted Fully Distributed Net Income
RECONCILIATION OF NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET INCOME OF CLASS A COMMON STOCK (UNAUDITED): The following table sets forth a reconciliation of net income attributable to Malibu Boats, Inc. to Adjusted Fully Distributed Net Income for the periods pr
Slide 17: Reconciliation of Net Income to Adjusted Fully Distributed Net Income
RECONCILIATION OF NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET INCOME OF CLASS A COMMON STOCK (UNAUDITED): (1) For the three months ended September 30, 2022 and 2021, represents amortization of intangibles acquired in connection with the acquisitions of Maverick