Mastercraft Boat Holdings, Inc. · NASDAQ:MCFT
Mastercraft Boat — Q4 2024 Earnings Presentation
20 slides from Mastercraft Boat's earnings presentation, Aug 29, 2024
Slide 1: Fiscal Fourth Quarter & 2024 Results
Fiscal Fourth Quarter & 2024 Results August 29, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward- looking statements generally relate to future events and include, without limitation, projections
Slide 3: Call Participants
Call Participants Brad Nelson Tim Oxley Chief Executive Officer Chief Financial Officer F I S C AL F O U R T H Q U AR T E R & 2 0 2 4 R E S U L T S 3
Slide 4: Brand portfolio: ski-wake, pontoon and luxury pontoon brands
#1 ski-wake brand(1) Leading pontoon brand Innovative luxury pontoon brand Most-awarded in ski-wake Runway for continued growth De novo brand with growth potential Iconic marine brand 65+ years of brand equity Emphasis on premium positioning (1) Source: SSI Data; preliminary R12 retail sales data as
Slide 5: Fiscal Fourth Quarter & 2024 Results
Fiscal Fourth Quarter & 2024 Results F I S C AL F O U R T H Q U AR T E R & 2 0 2 4 R E S U L T S 5
Slide 6: Fiscal 2024 Earnings Overview
Fiscal 2024 Earnings Overview Financial Results Above Resilient Balance Sheet Rebalancing Dealer Balise Pontoon Launch Recent Expectations Provides Abundant Flexibility Inventories Net sales of $366.6 million Returned >$16 million of capital Substantial destocking of field Launch of luxury p
Slide 7: Fiscal Year Comparative Results
Fiscal Year Comparative Results Net Sales* Adjusted EBITDA Adjusted Diluted Net Unit Volume ($’s in millions) ($’s in millions) Income Per Share $662.0 $366.6 6,377 3,130 $5.35 $52.1 134 $131.5 $141.2 2,836 $44.2 134 $59.6 $468.7 1,241 $32.9 $1.22 3,407 $262.7 1,755 FY23 FY24 FY23 FY24 FY23 FY24 FY2
Slide 8: Fourth Quarter Comparative Results
Fourth Quarter Comparative Results Net Sales Adjusted EBITDA Adjusted Diluted Net Unit Volume ($’s in millions) ($’s in millions) Income Per Share $166.6 $67.2 1,476 560 34 $12.6 $1.37 $24.7 $32.7 492 $129.3 42 $12.9 950 $9.9 216 $44.4 302 $0.8 $(0.04) Q4 FY23 Q4 FY24 Q4 FY23 Q4 FY24 Q4 FY23 Q4 FY24
Slide 9: Model Year 2025 Products & Innovations
Model Year 2025 Products & Innovations F I S C AL F O U R T H Q U AR T E R & 2 0 2 4 R E S U L T S 9
Slide 10: Capital Allocation Framework
Capital Allocation Framework Retain Strong Financial Key Metrics Invest in Long-Term Growth Return Excess Cash Position ($’s in millions) Maintain healthy balance sheet Organic Growth: $50 million share repurchase program Cash and ST Investments $86.2 Ensure adequate liquidity Focused innova
Slide 11: FY 2025 Guidance
FY 2025 Guidance Metric FY 2025 Q1 FY 2025 Between $265M and Net Sales Approximately $61M $300M Between $15M and Adjusted EBITDA Approximately $2M $26M Between $0.36 and Adjusted EPS Approximately $0.04 $0.87 Capital Expenditures N/A Approximately $12M F I S C AL F O U R T H Q U AR T E R & 2 0 2 4 R
Slide 12: Appendix
Appendix F I S C AL F O U R T H Q U AR T E R & 2 0 2 4 R E S U L T S 12
Slide 13: Fiscal Year Adjusted EBITDA Reconciliation
Fiscal Year Adjusted EBITDA Reconciliation The following table sets forth a % of % of reconciliation of net income from FY24 FY23 ($ in thousands) sales sales continuing operations as Net income from continuing operations $8,722 2.4% $90,452 13.7% determined in accordance with Income tax expense 1
Slide 14: Fourth Quarter Adjusted EBITDA Reconciliation
Fourth Quarter Adjusted EBITDA Reconciliation The following table sets forth a reconciliation of net income (loss) % of % of Q4 FY24 Q4 FY23 from continuing operations as ($ in thousands) sales sales Net income (loss) from continuing operations ($8,107) -12.1% $23,052 13.8% determined in accordanc
Slide 15: Fiscal Year Adjusted Net Income Reconciliation
Fiscal Year Adjusted Net Income Reconciliation ($ in thousands, except per share and share am ounts) FY24 FY23 Net income from continuing operations $8,722 $90,452 The following table sets forth a Income tax expense 1,407 27,135 reconciliation of net income from Impairments (1) 9,827 - Amortizatio
Slide 16: Fourth Quarter Adjusted Net Income Reconciliation
Fourth Quarter Adjusted Net Income Reconciliation ($ in thousands, except per share and share am ounts) Q4 FY24 Q4 FY23 Net income (loss) from continuing operations ($8,107) $23,052 The following table sets forth a Income tax expense (benefit) (3,001) 6,782 Impairments (1) 9,827 - reconciliation o
Slide 17: Fiscal Year Adjusted Net Income Per Share Reconciliation
Fiscal Year Adjusted Net Income Per Share Reconciliation The following table sets forth a FY24 FY23 reconciliation of net income from Net income from continuing operations per diluted share $0.51 $5.09 Income tax expense 0.08 1.53 continuing operations per diluted Impairments (1) 0.57 - share as d
Slide 18: Fourth Quarter Adjusted Net Income Per Share Reconciliation
Fourth Quarter Adjusted Net Income Per Share Reconciliation The following table sets forth a Q4 FY24 Q4 FY23 reconciliation of net income (loss) Net income (loss) from continuing operations per diluted share ($0.49) $1.32 Income tax expense (benefit) (0.18) 0.39 from continuing operations per Impa
Slide 19: Fiscal Year Adjusted EBITDA Excluding Aviara Reconciliation
Fiscal Year Adjusted EBITDA Excluding Aviara Reconciliation The following table sets forth a reconciliation of operating loss of ($ in thousands) FY24 FY23 the Aviara segment as determined Operating loss - Aviara Segment ($19,844) ($4,515) in accordance with U.S. GAAP to Depreciation and amortizat
Slide 20: MasterCraft Boat Holdings Inc.
MASTERCRAFT BOAT HOLDINGS INC. =>" crREst {§ BALISE
MasterCraft Boat Holdings — Q4 2024 Earnings Presentation on 6ix