Malibu Boats, Inc. has announced its financial results for the fourth quarter and fiscal year ended June 30, 2022.
Fiscal Fourth Quarter 2022 Highlights Compared to Fiscal Fourth Quarter 2021
- Net sales increased 27.6% to $353.2 million
- Unit volume increased 10.3% to 2,596 units
- Gross profit increased 29.5% to $89.6 million
- Net income increased 42.1% to $49.7 million
- Adjusted EBITDA increased 28.3% to $73.9 million
- Net income available to Class A Common Stock per share (diluted) increased 44.4% to $2.31 per share
- Adjusted fully distributed net income per share increased 32.1% to $2.43 per share on a fully distributed weighted average share count of 21.3 million shares of Class A Common Stock
Fiscal Year 2022 Highlights Compared to Fiscal Year 2021
- Net sales increased 31.1% to $1,214.9 million
- Unit volume increased 13.1% to 9,255 units
- Gross profit increased 31.1% to $310.1 million
- Net income increased 43.0% to $163.4 million
- Adjusted EBITDA increased 29.7% to $246.5 million
- Net income available to Class A Common Stock per share (diluted) increased 43.6% to $7.51 per share
- Adjusted fully distributed net income per share increased 31.6% to $7.91 on a fully distributed weighted average share count of 21.6 million shares of Class A Common Stock
“Our superior execution, combined with the strength of our brands and innovation, supported yet another tremendous quarter and overall record-smashing year, with net sales growing 31% and Adjusted EBITDA increasing nearly 30% over the prior year,” said Jack Springer, CEO. “Despite persistent supply chain headwinds, our operational excellence and advancements of our vertically integrated model have continued to shine and kept us strongly positioned as we closed out the fiscal year.”
“Our Model Year 2023 lineup is nothing short of enviable as we as bring even larger and more feature-rich boats to the market. Additionally, we are extremely excited about the introduction of the Pathfinder 2400 TRS, our first Maverick product launch since the acquisition, which is sure to make waves with our customers. We continue to focus on our industry-leading innovation as we expand our differentiated portfolio across all our brands, giving us a significant edge with both loyal customers of our brands and first-time boat buyers,” continued Springer. “As we move into fiscal year 2023, we remain in an optimal position, doubling down on our strong conviction that our inherent strength and capabilities along with operational prowess will continue to drive profitability and deliver long-term value for our shareholders.”
