MasterCraft net sales declined almost 30% for the second quarter ending December 29 2024 to $63.4 million, down $26.4 million compared to the prior-year period.
Adjusted EBITDA was $3.5 million, down $9.4 million from the comparable prior-year period.
For the second quarter of fiscal 2025, MasterCraft Boat Holdings, reported consolidated net sales of $63.4 million,
The decrease in net sales was primarily due to planned lower unit volumes, leading to lower dealer inventory levels, and an unfavorable model mix.
The lower margins were the result of an unfavorable model mix and lower cost absorption due to the decreased production volume.
“Our business executed well during our fiscal second quarter by delivering results above expectations despite macroeconomic and retail environment headwinds,” said Brad Nelson, MasterCraft CEO.
“Early boat show season results have been encouraging, especially with strong demand for our new ultra-premium XStar lineup which has provided positive momentum as we near the summer selling season.”
Early boat show season results have been encouraging.
Brad Nelson
Income from continuing operations was $0.4 million for the second quarter of fiscal 2025, compared to $8.7 million in the prior-year period.
Adjusted EBITDA was $3.5 million for the period, compared to $12.9 million in the prior-year period and adjusted EBITDA margin was 5.6% for the second quarter, down from 14.4% for the prior-year period.
For full year fiscal 2025, net sales are expected to be between $275 million and $295 million, with adjusted EBITDA between $19 million and $24 million.
For the fiscal third quarter 2025, consolidated net sales are expected to be approximately $75 million, with adjusted EBITDA of approximately $5 million.
“We are narrowing our full year guidance as a result of our second quarter outperformance and added confidence in our production plans from the encouraging XStar launch,” added Brad Nelson.
“We are planning for a range of industry and macroeconomic scenarios while implications of trade uncertainties on the broader economy remains largely unknown.”
