MCFT - Mastercraft takes on water despite report of record sales profits

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) is sinking on Wednesday despite reporting record results and forecasting smooth sailing ahead. The Vonore, Tennessee-based luxury boat manufacturer reported an EPS figure $0.15 above analyst estimates for its fiscal third quarter, alongside revenue that beat expectations by $20.15 million. CEO Fred Brightbill indicated both figures were company records. “Looking forward, we are once again raising our net sales guidance for the full year on the strength of our operating performance, continuing strong retail demand, and wholesale visibility,” Brightbill commented. “We will prioritize delivering consumers their boats heading into the summer season.” The summer season has been touted across the hospitality and travel industries as one of unprecedented strength. Similarly, MasterCraft (MCFT -0.1%) peer Malibu Boats (MBUU +2.0%) offered a bullish outlook on Tuesday.  However, the company’s release reflected challenges in terms of supply chain disruptions and inflationary pressures. These impacts trimmed margins by 270

For further details see:

Mastercraft takes on water despite report of record sales, profits