Malibu Boats, Inc. · NASDAQ:MBUU
Malibu Boats — Q3 2023 Earnings Presentation
18 slides from Malibu Boats's earnings presentation, May 3, 2023
Slide 1: Malibu Boats, Inc. Third Quarter Fiscal 2023 Earnings Results
Malibu Boats, Inc. Third Quarter Fiscal 2023 Earnings Results May 03, 2023
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 Q3 2023
THREE MONTHS ENDED FISCAL Q3 2023 • Delivered strong results, meeting expectations as we navigated a dynamic market environment AFDNI PER SHARE (1) • Record Q3 net sales of $375.1 million, up 9.0% year-over-year • Driven by increased unit volumes for our Saltwater Fishing and Cobalt segments, strong
Slide 5: Key Takeaways
KEY TAKEAWAYS • Record-setting quarter for sales and strong performance driven by our operational execution and vertically integrated capabilities. • Resilient demand for our Saltwater segment, as evidenced by our recent peak boat show performance. • Unwavering commitment towards investing for the n
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 all quality products in the most efficient manner brands, driving overall gro
Slide 7: Malibu's Growth Strategy
MALIBU’S GROWTH STRATEGY STRATEGIC ACQUISITIONS OF PREMIUM VERTICAL COMPANIES INTEGRATION PRODUCT & DISTRIBUTION WHITE INNOVATION SPACES
Slide 8: Next Wave of Malibu's Growth Strategy
NEXT WAVE OF MALIBU’S GROWTH STRATEGY Capacity Expansion Vertical Integration Plans to develop new 260,000+ square Build out of separate, independent Rollout of Monsoon sterndrive engines foot facility near MBI HQ 100,000+ square foot Tooling Design to Cobalt dealers and customers Center on Pursuit
Slide 9: Third Quarter Fiscal 2023 Comparable Results
THIRD QUARTER FISCAL 2023 COMPARABLE RESULTS NET SALES VOLUME NET SALES PER UNIT MIX COMPARISON
Slide 10: Third Quarter Fiscal 2023 Comparable Results
THIRD 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 11: FY23 Full Year Outlook
FY23 FULL YEAR OUTLOOK METRIC TARGET Consolidated Net Sales Slightly above 10% Adjusted EBITDA Margin Down slightly
Slide 12: Appendix
MALIBU BOATS. INC:
Slide 13: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA and 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 14: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA (Footnotes)
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 15: Reconciliation 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 to Adjusted Fully Distributed Net Income (Shares)
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 to Adjusted Fully Distributed Net Income Per Share
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 18: Reconciliation to Adjusted Fully Distributed Net Income (Footnotes)
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 March 31, 2023 and 2022, represents amortization of intangibles acquired in connection with the acquisitions of Maverick Boat