Malibu Boats Q2 revenue beats expectations despite 5.8% decline

Overview

• Powerboat maker's fiscal Q2 revenue beat analyst expectations despite a 5.8% decline

• Adjusted EBITDA for fiscal Q2 missed analyst expectations

• Company completed $21 mln in share repurchases during the quarter

Outlook

• Malibu Boats expects fiscal 2026 net sales to be flat to down mid-single digits

• Company anticipates fiscal 2026 Adjusted EBITDA margin between 8% and 9%

Result Drivers

• LOWER WHOLESALE SHIPMENTS - Malibu Boats attributed decreased net sales to lower wholesale shipments across all segments, driven by reduced retail activity

• INFLATION-DRIVEN PRICE INCREASES - Co said inflation-driven price increases partially offset declines in net sales

• CENTRALIZED SOURCING MODEL - Malibu Boats highlighted success in its centralized sourcing model, contributing to operational efficiency

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the recreational products peer group is "buy"

• Wall Street's median 12-month price target for Malibu Boats Inc is $33.50, about 3.2% below its February 4 closing price of $34.61

• The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 18 three months ago

Press Release: ID:nGNX39MfcS

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