Mastercraft Boat Holdings, Inc. · NASDAQ:MCFT
Mastercraft Boat — Q1 2024 Earnings Presentation
14 slides from Mastercraft Boat's earnings presentation, Nov 8, 2023
Slide 1: Fiscal First Quarter 2024 Results
FISCAL FIRST QUARTER 2024 RESULTS NOVEMBER 8, 2023
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 F I R S T 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 First Quarter 2024 Results
FISCAL FIRST QUARTER 2024 RESULTS F I S C AL F I R S T Q U AR T E R 2 0 2 4 R E S U L T S 5
Slide 6: First Quarter 2024 Earnings Highlights
FIRST QUARTER 2024 EARNINGS HIGHLIGHTS Better-than-Expected Resilient Balance Sheet Rebalancing Dealer Holding Fiscal 2024 Financial Results Provides Abundant Flexibility Inventories Guidance Net sales of $104.2 million, dow n Fort ress balance sheet prov ides Dealer inv ent ories declined N
Slide 7: First Quarter Comparative Results
FIRST QUARTER COMPARATIVE RESULTS NET SALES ADJUSTED EBITDA ADJUSTED DILUTED NET UNIT VOLUME ($’s in millions) ($’s in millions) INCOME PER SHARE $180 $169.5 $104.2 1,659 881 $40 $1.60 1,800 $35.9 $1.43 $160 $12.9 32 $35 $1.40 1,600 $140 $30 $43.6 1,400 $1.20 $120 1,200 846 $25 $1.00 $100 $9.9 1,000
Slide 8: 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 9: Fiscal Year 2024 Guidance
FISCAL YEAR 2024 GUIDANCE METRIC FY 2024 Q2 FY 2024 Between $390M and Net Sales Approximately $96M $420M Between $42M and Adjusted EBITDA Approximately $7M $52M Between $1.46 and Adjusted EPS Approximately $0.22 $1.88 Capital Expenditures Not Provided Approximately $22M Guidance continues to refle
Slide 10: Appendix
APPENDIX F I S C AL F I R S T Q U AR T E R 2 0 2 4 R E S U L T S 10
Slide 11: Adjusted EBITDA Reconciliation
FIRST QUARTER ADJUSTED EBITDA RECONCILIATION The following table sets forth a reconciliation of net income from continuing % of % of operations as determined in ($ in thousands) Q1 FY24 sales Q1 FY23 sales accordance with U.S. GAAP Net income from continuing operations $7,076 6.8% $24,635 14.5% In
Slide 12: Adjusted Net Income Reconciliation
FIRST QUARTER ADJUSTED NET INCOME RECONCILIATION The following table sets ($ in thousands, except per share and share amounts) Q1 FY24 Q1 FY23 Net income from continuing operations $7,076 $24,635 forth a reconciliation of Income tax expense 1,950 7,176 Amortization of acquisition intangibles 462 4
Slide 13: Adjusted Net Income per Share Reconciliation
FIRST QUARTER ADJUSTED NET INCOME PER SHARE RECONCILIATION The following table sets forth a reconciliation of Q1 FY24 Q1 FY23 net income from ($ in thousands, except per share amounts) Net income from continuing operations per diluted share $0.41 $1.37 continuing operations per Income tax expense
Slide 14: MasterCraft Boat Holdings Inc.
MASTERCRAFT BOAT HOLDINGS INC. MasterCraft c Ser wo, IN
MasterCraft Boat Holdings — Q1 2024 Earnings Presentation on 6ix