MasterCraft, founded in 1968, builds ski, wakeboarding and performance boats in Vonore, Tenn. It was bought by MCBC Hydra Boats, a subsidiary of Wayzata Investment Partners, in 2009.
The company expects to increase production throughout 2021 to meet demand.
Reuters reported that the investor is pushing for an acquisition.
The $58 million drop in revenue was less of a loss than expected.
The builder expands its NXT Series with the largest vessel in the model line.
Net sales were down 20 percent, and the company withdrew its 2020 guidance.
MasterCraft is the latest builder to report lower quarterly sales, saying today it is “right-sizing” dealer inventory after a slow summer sales season.
The company’s board also announced that Roch Lambert will become its lead independent director.
Weather-related sales dips prompted the company to right-size inventory levels.
The CEO will pursue an opportunity outside the boating industry.
The company is forecasting a slight decrease for 2020 sales, while making weekly adjustments to dealer inventory pipelines.
NMMA’s Global Star program recognizes manufacturers for global sales efforts.
Marine Partners in Rozelle, New South Wales, will carry the U.S. offshore saltwater line.
Chris Jost and Shelly Walker join the team in different capacities.
The company reported softness in small boats of its NauticStar line, but said its MasterCraft brand shows “strong retail momentum.”
Manufacturer is partnering with banks, insurance companies and SeaTow.
Jay Povlin to head MasterCraft Holdings’ brand as it increases product development.
NauticStar boats will shift to larger boats up to 39 feet.
A 32-foot model will be the first to be unveiled in the new Aviara line.
MCBC Holdings does not reflect the “premium, iconic nature” of the brand.
The 65-foot Estrella from HCB Center Console Yachts will debut at the Fort Lauderdale International Boat Show on Oct. 31.
Crest is growing at twice the rate of the rest of the pontoon boat sector. Its net sales have jumped from $65 million in 2017 to a forecasted $90 million this year.
After reporting record sales and earnings for fiscal 2018, the parent of MasterCraft and NauticStar said it plans to launch three new models of the new brand in 2019