Overview

• U.S. recreational powerboat maker's fiscal Q3 sales rose 3%, beating analyst expectations

• Adjusted EPS and adjusted net income for Q3 beat analyst expectations

• Company expects to complete Marine Products merger after May 12 shareholder vote

Outlook

• Company expects full-year fiscal 2026 net sales of $312 mln

• Company sees full-year fiscal 2026 adjusted EBITDA of $40 mln

• Company forecasts full-year fiscal 2026 adjusted EPS of $1.65

Result Drivers

• MODEL MIX AND PRICING - Sales increase was driven by favorable model mix, higher prices, and decreased dealer incentives, partially offset by lower unit volumes

• COST CONTROLS - Gross margin improvement was attributed to higher net sales and effective cost controls

• PREMIUM PRODUCT MOMENTUM - Premium product momentum continued, highlighted by the reintroduction of the X23 model

Company press release: ID:nGNX8h4Ghx

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Sales	Beat	$78.2 mln	$75.64 mln (6 Analysts)
Q3 Adjusted EPS	Beat	$0.45	$0.36 (6 Analysts)
Q3 Adjusted Net Income	Beat	$7.2 mln	$5.88 mln (4 Analysts)
Q3 Adjusted EBITDA	Beat	$10.7 mln	$9.15 mln (7 Analysts)
Q3 Adjusted EBITDA Margin		13.7%

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "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 Mastercraft Boat Holdings Inc is $25.00, about 3.6% above its May 6 closing price of $24.14

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 15 three months ago

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