Mastercraft Boat Holdings, Inc. · NASDAQ:MCFT

Mastercraft Boat — Q4 2023 Earnings Presentation

21 slides from Mastercraft Boat's earnings presentation, Aug 30, 2023

  1. Slide 1: Fiscal Fourth Quarter & 2023 Results

    FISCAL FOURTH QUARTER & 2023 RESULTS AUGUST 30, 2023

  2. 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

  3. Slide 3: Call Participants

    CALL PARTICIPANTS Fred Brightbill CEO and Chairman of the Board Tim Oxley Chief Financial Officer George Steinbarger President - Crest Bobby Potter VP of Strategy & Investor Relations F I S C AL F O U R T H Q U AR T E R & 2 0 2 3 R E S U L T S 3

  4. 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

  5. Slide 5: Fiscal Fourth Quarter & 2023 Results

    FISCAL FOURTH QUARTER & 2023 RESULTS F I S C AL F O U R T H Q U AR T E R & 2 0 2 3 R E S U L T S 5

  6. Slide 6: Fiscal 2023 Earnings Highlights

    FISCAL 2023 EARNINGS HIGHLIGHTS Resilient Balance Sheet Rebalancing Dealer Record Financial Results Fiscal 2024 Guidance Provides Abundant Flexibility Inventories  T hird consecut iv e record- set t ing  G enerat ed record operat ing cash  Dealer inv ent ories ended year at  Net sales bet w een

  7. Slide 7: Record Full-Year Results

    RECORD FULL-YEAR RESULTS NET SALES ADJUSTED EBITDA ADJUSTED NET INCOME ($’s in millions) ($’s in millions) PER SHARE $140 $6.00 $700 $662.0 $130.5 $131.5 $5.35 $641.6 $5.01 $120 $5.00 $600 $100 $92.1 $500 $466.0 $4.00 $3.34 $80 $400 $3.00 $60 $300 $2.00 $200 $40 $20 $1.00 $100 $- $- $- FY21 FY22 FY2

  8. Slide 8: Fiscal 2023 Comparative Results

    FISCAL 2023 COMPARATIVE RESULTS NET SALES ADJUSTED EBITDA ADJUSTED DILUTED NET UNIT VOLUME ($’s in millions) ($’s in millions) INCOME PER SHARE $641.6 $662.0 6,852 6,377 $6.00 8,000 $140 $130.5 $131.5 $700 $5.35 $34.7 $5.01 $52.1 7,000 100 $120 $5.00 $600 134 $140.9 $141.2 6,000 $100 $500 $4.00 5,00

  9. Slide 9: 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 $250 $197.2 $166.6 1,951 1,476 $50 $47.6 $2.50 2,500 $45 $200 $40 $2.00 $1.92 $10.5 2,000 29 $35 $32.7 $39.4 $12.6 $30 $150 1,500 895 34 $1.50 $1.37 $24.

  10. Slide 10: Cash Flow and Capital Allocation

    CASH FLOW AND CAPITAL ALLOCATION OPERATING CASH FLOW FREE CASH FLOW KEY METRICS ($’s in millions) ($’s in millions) ($’s in millions) $140 $136.8 $120 Cash and Investments $111.4 $106.5 $120 $100 Total Debt $53.7 $100 $80 $82.4 $70.1 $80 Capital Expenditures (FY23) $30.3 $60 $60 $40 Share Repurchase

  11. Slide 11: Model Year 2024 Product Highlights

    MODEL YEAR 2024 PRODUCT HIGHLIGHTS All New Aviara AV28 Newly Redesigned Crest All New MasterCraft XT25 Caribbean F I S C AL F O U R T H Q U AR T E R & 2 0 2 3 R E S U L T S 11

  12. Slide 12: Fiscal Year 2024 Guidance

    FISCAL YEAR 2024 GUIDANCE METRIC FY 2024 Q1 FY 2024 Net Sales Approximately $98M Between $390M and $420M Adjusted EBITDA Approximately $11M Between $42M and $52M Adjusted EPS Approximately $0.41 Between $1.46 and $1.88 Capital N/A Approximately $22M Expenditures  Guidance reflects view that industr

  13. Slide 13: Appendix

    APPENDIX F I S C AL F O U R T H Q U AR T E R & 2 0 2 3 R E S U L T S 13

  14. Slide 14: Fiscal Year Adjusted EBITDA Reconciliation

    FISCAL YEAR ADJUSTED EBITDA RECONCILIATION  The following table sets % of % of forth a reconciliation of net FY23 FY22 ($ in thousands) sales sales income from continuing Net income from continuing operations $90,452 13.7% $87,945 13.7% operations as determined in Income tax expense Interest expens

  15. Slide 15: Fourth Quarter Adjusted EBITDA Reconciliation

    FOURTH QUARTER ADJUSTED EBITDA RECONCILIATION  The following table sets forth a reconciliation of net income from continuing Q4 FY23 % of Q4 FY22 % of operations as determined in ($ in thousands) sales sales Net income from continuing operations $23,052 13.8% $33,548 17.0% accordance with U.S. GAAP

  16. Slide 16: Fiscal Year Adjusted Net Income Reconciliation

    FISCAL YEAR ADJUSTED NET INCOME RECONCILIATION ($ in thousands, except per share and share amounts) FY23 FY22  The following table sets Net income from continuing operations $90,452 $87,945 Income tax expense 27,135 26,779 forth a reconciliation of Impairments (1) - 1,100 Amortization of acquisitio

  17. Slide 17: Fourth Quarter Adjusted Net Income Reconciliation

    FOURTH QUARTER ADJUSTED NET INCOME RECONCILIATION ($ in thousands, except per share and share amounts) Q4 FY23 Q4 FY22 Net income from continuing operations $23,052 $33,548  The following table sets Income tax expense 6,782 10,652 Amortization of acquisition intangibles 462 462 forth a reconciliati

  18. Slide 18: Fiscal Year Adjusted Net Income Per Share Reconciliation

    FISCAL YEAR ADJUSTED NET INCOME PER SHARE RECONCILIATION  The following table sets forth a reconciliation of FY23 FY22 net income from Net income from continuing operations per diluted share $5.09 $4.72 Income tax expense 1.53 1.44 continuing operations per Impairments (1) - 0.06 Amortization of ac

  19. Slide 19: Fourth Quarter Adjusted Net Income Per Share Reconciliation

    FOURTH QUARTER ADJUSTED NET INCOME PER SHARE RECONCILIATION  The following table sets forth a reconciliation of Q4 FY23 Q4 FY22 net income from Net income from continuing operations per diluted share Income tax expense $1.32 0.39 $1.85 0.59 continuing operations per Amortization of acquisition inta

  20. Slide 20: Fiscal Year Free Cash Flow Reconciliation

    FISCAL YEAR FREE CASH FLOW RECONCILIATION  The following table sets forth a reconciliation of net cash provided by operating activities of ($ in thousands) FY23 FY22 Net cash provided by operating activities of continuing operations $136,824 $82,378 continuing operations as Purchases of property, p

  21. Slide 21: MasterCraft Boat Holdings Inc.

    MASTERCRAFT BOAT HOLDINGS INC. MasterCraft c Ser wo, IN

MasterCraft Boat Holdings — Q4 2023 Earnings Presentation on 6ix