MALIBU BOATS, INC. SEC 10-Q Report

Malibu Boats, Inc., a leading manufacturer of performance sports boats, saltwater fishing boats, and luxury cruisers, has released its latest Form 10-Q report, highlighting significant improvements in both financial and operational performance. The report covers the third quarter of fiscal 2025, showcasing the company's robust growth and strategic initiatives aimed at enhancing market share and profitability.

Financial Highlights

• Net Sales: $228.7 million, an increase of 12.4% compared to the third quarter of fiscal 2024, driven by higher sales across all segments.
• Gross Profit: $45.7 million, up by 13.4% compared to the third quarter of fiscal 2024, reflecting improved efficiency and cost management.
• Operating Income: $17.4 million, a significant turnaround from an operating loss of $74.9 million in the third quarter of fiscal 2024.
• Net Income: $13.2 million, compared to a net loss of $67.8 million in the third quarter of fiscal 2024, highlighting substantial improvement in profitability.
• Basic Net Income Per Share: $0.66, compared to a loss of $3.28 per share in the third quarter of fiscal 2024, reflecting the company's return to profitability.
• Diluted Net Income Per Share: $0.66, compared to a loss of $3.28 per share in the third quarter of fiscal 2024, indicating improved earnings performance.

Business Highlights

• Revenue Segments: The company operates through three main segments: Malibu, Saltwater Fishing, and Cobalt. The Malibu segment includes the Malibu and Axis brands, which are performance sports boats. The Saltwater Fishing segment includes Pursuit and the Maverick Boat Group brands, focusing on saltwater outboard fishing boats. The Cobalt segment offers luxury cruisers and bowriders.
• Geographical Performance: The company reported net sales primarily from North America, with international sales contributing a smaller portion. North America remains the dominant market, reflecting strong demand for the company's products in this region.
• Sales Units: During the nine months ended March 31, 2025, the company repurchased 22 units under repurchase agreements, including 19 boats from Tommy's Boats inventory. These boats were subsequently resold above cost.
• New Product Launches: The company continues to focus on innovation and new product development to increase market share across its boating categories. This includes introducing new models and innovative features to appeal to a broader range of consumers.
• Future Outlook: The company anticipates a challenging economic environment due to macroeconomic factors such as high inflation and interest rates. Despite these challenges, the company aims to increase market share through new product development, improved distribution, and maintaining strong dealer relationships. The company expects to deliver higher sales in the second half of fiscal 2025 compared to the same period in fiscal 2024.

SEC Filing: MALIBU BOATS, INC. [ MBUU ] - 10-Q - May. 08, 2025