Malibu Boats said fiscal fourth-quarter revenue and profit increased as the company made headway with first-time buyers and existing customers.
Sales in the quarter ended June 30 climbed 27.6 percent to $353.2 million, from $276.7 million in last year’s fourth quarter, the Loudon, Tenn.-based builder said in its earnings report.
Net income rose 42.1 percent to $49.7 million, from $35 million in the prior-year quarter. The company said adjusted earnings before interest, taxes, depreciation and amortization were up 28.3 percent to $73.9 million.
“Despite persistent supply chain headwinds, our operational excellence and advancements of our vertically integrated model have continued to shine and kept us strongly positioned as we closed out the fiscal year,” Malibu CEO Jack Springer said in the release.
The company provided guidance for the new fiscal year, stating that it expects net sales growth in the mid- to high-single digits percentagewise for 2023. Adjusted Ebitda margin is likely to be “down slightly” from fiscal 2022, the statement said
Springer highlighted new products for the new year, particularly the Pathfinder 2400 TRS. (Malibu is the parent company of several brands, including Pathfinder, Hewes, Maverick, Cobia, Pursuit and Cobalt.)
“Our model year 2023 lineup is nothing short of enviable as we as bring even larger and more feature-rich boats to the market,” the CEO said.