Mastercraft Boat Holdings, Inc. · NASDAQ:MCFT
Mastercraft Boat — Q2 2024 Earnings Presentation
18 slides from Mastercraft Boat's earnings presentation, Feb 7, 2024
Slide 1: Fiscal Second Quarter 2024 Results
FISCAL SECOND QUARTER 2024 RESULTS FEBRURARY 7, 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 Fred Brightbill CEO and Chairman of the Board Tim Oxley Chief Financial Officer Bobby Potter VP of Strategy & Investor Relations F I S C AL S E C O N D Q U AR T E R 2 0 2 4 R E S U L T S 3
Slide 4: Diversified Portfolio of Leading Brands
DIVERSIFIED PORTFOLIO OF LEADING BRANDS SERVING THE FASTEST GROWING CATEGORIES OF THE POWERBOAT INDUSTRY SKI-WAKE PONTOON LUXURY DAY BOATS BOATS BOATS Iconic brand recognized as Growing pontoon brand De novo brand that creates an the premier brand in the delivering consumers a elevated open water fa
Slide 5: Fiscal Second Quarter 2024 Results
FISCAL SECOND QUARTER 2024 RESULTS F I S C AL S E C O N D Q U AR T E R 2 0 2 4 R E S U L T S 5
Slide 6: Second Quarter Earnings Highlights
SECOND QUARTER EARNINGS HIGHLIGHTS Better-than-Expected Resilient Balance Sheet Rebalancing Dealer Narrowing Full Year Financial Results Provides Abundant Flexibility Inventories Guidance Net sales of $99.5 million, dow n Fort ress balance sheet prov ides Dealer inv ent ories increased Net s
Slide 7: Second Quarter Comparative Results
SECOND QUARTER COMPARATIVE RESULTS NET SALES ADJUSTED EBITDA ADJUSTED DILUTED NET UNIT VOLUME ($’s in millions) ($’s in millions) INCOME PER SHARE $180 $159.2 $99.5 1,586 884 $35 $1.40 1,800 $160 $29.8 $1.20 $13.9 1,600 34 $30 $1.20 $140 1,400 $25 $36.6 $1.00 $120 1,200 776 $20 $100 1,000 $0.80 $9.7
Slide 8: Second Quarter YTD Comparative Results
SECOND QUARTER YTD COMPARATIVE RESULTS NET SALES ADJUSTED EBITDA ADJUSTED DILUTED NET UNIT VOLUME ($’s in millions) ($’s in millions) INCOME PER SHARE $350 $328.7 $203.7 3,245 1,765 $70 $65.8 $3.00 3,500 $2.62 $26.8 66 $300 $60 3,000 $2.50 $80.2 $50 $250 2,500 1,622 $2.00 $40 $200 $19.7 2,000 53 $35
Slide 9: Capital Allocation Framework
CAPITAL ALLOCATION FRAMEWORK RETAIN STRONG INVEST IN GROWTH FINANCIAL POSITION Organic Grow th: M aintain healthy balance sheet • New products / R&D • Internal brand development Ensure adequate liquidity • Capacity expansion Zero net debt M &A: • Strategic acquisitions to fill consumer w hite
Slide 10: Fiscal Year 2024 Guidance
FISCAL YEAR 2024 GUIDANCE METRIC FY 2024 Q3 FY 2024 Between $400M and Net Sales Approximately $92M $412M Between $42M and Adjusted EBITDA Approximately $7M $47M Between $1.53 and Adjusted EPS Approximately $0.23 $1.78 Capital Expenditures Not Provided Approximately $20M F I S C AL S E C O N D Q U AR
Slide 11: Appendix
APPENDIX F I S C AL S E C O N D Q U AR T E R 2 0 2 4 R E S U L T S 11
Slide 12: Second Quarter Adjusted EBITDA Reconciliation
SECOND QUARTER ADJUSTED EBITDA RECONCILIATION The following table sets forth a reconciliation of net income from continuing % of % of operations as determined in ($ in thousands) Q2 FY24 sales Q2 FY23 sales accordance with U.S. GAAP Net income from continuing operations $5,927 6.0% $19,983 12.6% I
Slide 13: Second Quarter YTD Adjusted EBITDA Reconciliation
SECOND QUARTER YTD ADJUSTED EBITDA RECONCILIATION The following table sets forth a reconciliation of net income from continuing Q2 FY24 % of Q2 FY23 % of operations as determined in ($ in thousands) YTD sales YTD sales accordance with U.S. GAAP Net income from continuing operations Income tax expe
Slide 14: Second Quarter Adjusted Net Income Reconciliation
SECOND QUARTER ADJUSTED NET INCOME RECONCILIATION Q2 FY24 Q2 FY23 The following table sets ($ in thousands, except per share and share amounts) Net income from continuing operations $5,927 $19,983 forth a reconciliation of Income tax expense Amortization of acquisition intangibles 1,652 450 6,433
Slide 15: Second Quarter YTD Adjusted Net Income Reconciliation
SECOND QUARTER YTD ADJUSTED NET INCOME RECONCILIATION Q2 FY24 Q2 FY23 The following table sets ($ in thousands, except per share and share amounts) YTD YTD forth a reconciliation of Net income Income tax expense $13,003 3,602 $44,618 13,609 net income from Amortization of acquisition intangibles S
Slide 16: Second Quarter Adjusted Net Income Per Share Reconciliation
SECOND QUARTER ADJUSTED NET INCOME PER SHARE RECONCILIATION The following table sets forth a reconciliation of net income from ($ in thousands, except per share amounts) Q2 FY24 Q2 FY23 continuing operations per Net income from continuing operations per diluted share $0.35 $1.12 Income tax expense
Slide 17: Second Quarter YTD Adjusted Net Income Per Share Reconciliation
SECOND QUARTER YTD ADJUSTED NET INCOME PER SHARE RECONCILIATION The following table sets forth a reconciliation of net income from Q2 FY24 Q2 FY23 ($ in thousands, except per share amounts) YTD YTD continuing operations per Net income $0.76 $2.49 Income tax expense 0.21 0.76 diluted share as Amort
Slide 18: MasterCraft Boat Holdings Inc.
MASTERCRAFT BOAT HOLDINGS INC. MasterCraft c Ser wo, IN
MasterCraft Boat Holdings — Q2 2024 Earnings Presentation on 6ix