MasterCraft Boat Holdings, Inc. Reports Record Earnings for Fiscal 2021 Third Quarter

May 18, 2021

On May 12th, MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) announced financial results for its fiscal 2021 third quarter ended April 4, 2021.

Highlights:

• Delivered the most profitable quarter in the Company’s history

• Net sales increased to a record $147.9 million, up 44 percent from $102.6 million in the prior-year period

• Gross margin expanded by 450 basis points to 25.2%

• Net income was $17.6 million or $0.93 per diluted share

• Diluted Adjusted Net Income per share, a non-GAAP measure, was a record $1.01, a 120 percent increase from $0.46 in the prior-year period

• Adjusted EBITDA, a non-GAAP measure, grew 97 percent to a record $27.5 million from $14.0 million in the prior-year period

• Adjusted EBITDA margin, a non-GAAP measure, expanded by 500 basis points to 18.6%

• Guidance for full-year fiscal 2021 raised on strength of retail demand and production ramp up

Fred Brightbill, Chief Executive Officer and Chairman, commented, “Building upon the record quarterly performances we delivered in our first and second quarters, the fiscal third quarter was the most profitable quarter in the Company’s history. This record-setting performance was driven by year-over-year and sequential unit increases at each of our segments, achieved through disciplined execution and operational excellence. The credit goes to our more than 1,400 employees that continued to execute against our key strategic priorities and the strength of our brands. Throughout this challenging and dynamic operating environment, we have been able to scale and accelerate production while expertly managing our supply chain to deliver for our dealers and consumers in this robust demand environment.”

Brightbill continued, “Execution of our consumer-centric strategy remains our top focus as we look to drive sustainable, accelerated growth into fiscal 2022 and beyond. The heightened interest in boating as a safe, fun, outdoor, family-friendly recreation continues to endure. Strong retail demand across all our brands continued in our fiscal third quarter, resulting in a record wholesale backlog that provides us with great confidence in our outlook and ability to create long-term shareholder value.”

For more information: https://investors.mastercraft.com/news-releases/news-release-details/mastercraft-boat-holdings-inc-reports-record-earnings-fiscal-1