MCFT - MasterCraft Boat closes sale of NauticStar business

• MasterCraft Boat Holdings ( NASDAQ: MCFT ) announced Thursday the completion of its NauticStar business' sale to a subsidiary of Iconic Marine Group on Sept. 2, 2022.
• It comes in a separate announcement following the MasterCraft fourth quarter's earnings results released on the same day, where a revenue of $217.65M (+39.9% Y/Y) beat consensus by $22.4M and a $1.77 adjusted earnings per share for the quarter topped by $0.27.
• NauticStar segment contributed $66.3M to MasterCraft's FY 2022 sales, which amounted to $707.9M.
• "The sale of the NauticStar business to Iconic Marine Group will better position MasterCraft to drive profitable growth. I am confident that focusing on our MasterCraft, Crest and Aviara brands will drive enhanced value for MasterCraft shareholders, and that NauticStar will benefit from a new strategic owner dedicated to the future success of the brand," said  MasterCraft Boat CEO and Chairman Fred Brightbill.
• MCFT shares are down 3% in premarket trading on Thursday.
• Earlier: August marine retailer sentiment remains strained on economic concerns

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