BC - MasterCraft Boat rallies on upbeat FQ1 and outlook; strong boating market

Marking its most profitable 1Q21, MasterCraft Boat Holdings ([[MCFT]] +8.7%) reported a 10.9% Y/Y increase in net income to $9.6M or $0.51/diluted share; diluted adj. net income per share rose 7.4% to $0.58.Adj. EBITDA grew 6.8% to $17M.Net sales were down 5.5% to $103.7M led by lower sales volume as each segment continues to ramp up production; partially offset by a favorable mix of higher-priced and higher-contented models, lower dealer incentives, and higher parts sales volume driven by unprecedented boat usage this past boating season.Gross margin expanded 200 basis points to 25.3%.With the purchase of Merritt Island, Florida facility in October last week, the company increased production capacity for the MasterCraft and Aviara brands."Due to a continuation of strong retail demand trends, historically low dealer inventory, the strength of our order book across our brands, and the increasing production rates we delivered in each segment over the course of the quarter,

For further details see:

MasterCraft Boat rallies on upbeat FQ1 and outlook; strong boating market