Amidst a tough quarter, MasterCraft demonstrates resilience with strategic adjustments and a strong liquidity position.
Sport boat manufacturer MasterCraft (NASDAQ:MCFT) announced better-than-expected results in Q1 CY2024, with revenue down 42.6% year on year to $95.71 million. On the other hand, the company's full-year revenue guidance of $362.5 million at the midpoint came in 10.6% below analysts' estimates. It made a non-GAAP profit of $0.37 per share, down from its profit of $1.36 per share in the same quarter last year.
VONORE, Tenn., May 08, 2024 (GLOBE NEWSWIRE) -- MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) today announced financial results for its fiscal 2024 third quarter ended March 31, 2024. The overview, commentary, and results provided herein relate to our continuing operations. Overview: Net sales for the third quarter were $95.7 million, down 42.6% from the prior-year periodNet income from continuing operations was $3.8 million, or $0.23 per diluted shareDiluted Adjusted Net Income per share, a no