revenue
147 $million
Q1 2026
official guidance
MASTERCRAFT BOAT HOLDINGS, INC.
Last · —$19.11-0.48 (-2.45%)live · yahoo · 1h ago
Market cap$465.13M—
P/E · TTM—fwd — · eps —
Beta—vs S&P 500
Div yield—annual · TTM
52w range
——
Volume—session
| Revenue | $348.9M |
|---|---|
| Operating income | $-1.1M |
| Net income | $-1.7M |
| Free cash flow | $22.4M |
| Operating margin | -0.3% |
| Net margin | -0.5% |
| Return on equity | -0.4% |
| Period | 2026 |
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OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
Strong BuyBuyHoldSellStrong Sell
Execution is strong, but near-term demand and acquisition normalization are not yet proven.
HOLD: MasterCraft delivered strong legacy execution, with Q4 sales up 21.5% and legacy adjusted EBITDA margin up 730 basis points to 19.3%, while the Marine Products acquisition lifted consolidated Q4 sales to $129.9 million and adjusted EBITDA to $20.5 million. The investment case is balanced by management's forecast of a 5%-10% retail decline over the next six months, delayed recovery, low acquired-brand margins, and integration and pontoon-category risk.
Themes
- Marine Demand
- Marine Products Acquisition
- Legacy Margin Expansion
- Dealer Inventory
- X Series
- Integration Synergies
Near term
September-quarter guidance is approximately $147 million of sales, $16 million of adjusted EBITDA, and $0.40 of adjusted EPS.
The six-month transition outlook is $287 million-$291 million of sales and $29 million-$32 million of adjusted EBITDA while wholesale production is kept aligned with retail demand.
All three next-generation X Series models will be in full production, creating a favorable comparison but also making the near-term growth rate unusually timing-dependent.
Longer term
The acquisition expands the portfolio to five brands and creates potential dealer, manufacturing, sourcing, and product synergies.
MasterCraft's premium positioning and 30% legacy dealer-inventory reduction support share gains if marine demand eventually recovers.
The long-term thesis depends on restoring stronger economics at Chaparral and Robalo and improving the Leisure segment after a $10.1 million Crest intangible impairment.
Red flags
Management says retail recovery has been pushed out and expects industry demand to decline 5%-10% over the next six months.
Chaparral and Robalo produced only a 5.5% adjusted EBITDA margin during the initial six-week ownership period, and management expects margins to remain around that level until synergies and investments take effect.
Chaparral Surf production is temporarily paused for product and technology enhancements, while entry-level pontoon and runabout markets remain especially weak.
The acquisition adds approximately $2.7 million of quarterly depreciation and integration execution remains largely unquantified.
Forward outlook
ebitda
16 $million
Q1 2026
official guidance
adjusted eps
0.4 $per share
Q1 2026
official guidance
revenue
287–291 $million
FY 2026
official guidance
ebitda
29–32 $million
FY 2026
official guidance
adjusted eps
0.66–0.76 $per share
FY 2026
official guidance
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
From latest 10-K · 2026-09-10
- Marine Products Acquisition
- Operating Loss
- Gross Margin Expansion
- Dealer Concentration
- Inventory Repurchase Risk
- Single Supplier Dependence
- Internal Controls
- Consumer Financing
Red flags
- Fiscal 2026 operating expenses increased 77.3% to $80.9 million, driving operating income from $11.2 million of profit to a $1.1 million loss; the company also recorded $10.1 million of impairment charges.
- Marine Products represented 60.3% of total assets but was excluded from management's internal-control assessment because it was acquired on May 15, 2026; integration controls remain untested for a material portion of the balance sheet.
- The top ten dealers generated approximately 34% of fiscal 2026 net sales, creating meaningful distribution concentration even though no individual dealer exceeded 10%.
- Dealer inventory repurchase obligations rose to approximately $63.5 million from $41.0 million year over year, with a $1.5 million repurchase liability recorded at June 30, 2026.
- All Performance and Wake engines were purchased from a single vendor, with $29.7 million of total segment purchases in fiscal 2026; the exclusive contract requires minimum purchases and runs through June 30, 2030.
Upcoming earnings
1:30 PM UTC+1
Period
Sep 2026
Est. EPS
$0.40
Est. revenue
147.0M
Earnings transcripts
- Issuer IR
Q4 2018 earnings call transcript
MASTERCRAFT BOAT HOLDINGS, INC.
- Issuer webcast
Q2 2024 webcast
MASTERCRAFT BOAT HOLDINGS, INC.
- Issuer webcast
Q2 2023 webcast
MASTERCRAFT BOAT HOLDINGS, INC.
- Issuer webcast
Q4 2026 webcast
MASTERCRAFT BOAT HOLDINGS, INC.
- Issuer webcast
Q2 2025 earnings call transcript
MASTERCRAFT BOAT HOLDINGS, INC.
Documents
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