1 month ago
On September 10, MasterCraft Boat Holdings (NASDAQ:MCFT) reported a fiscal fourth quarter that looked nothing like the one a year earlier. Adjusted EBITDA more than doubled, margins expanded across the legacy business, and the company closed out a year defined by its May 15 acquisition of Marine Products Corporation. But buried inside those same results was a $10.1 million writedown that tells a very different story about one corner of the business.
MasterCraft's core boat business is the reason the quarter worked at all. Legacy net sales, meaning the business before the acquisition, climbed 21.5% year over year to $96.6 million in the fourth quarter, powered by the next generation X Series lineup and less discounting at the dealer level. That combination of volume and pricing pushed legacy adjusted EBITDA margin up 730 basis points to 19.3%, up from 12% a year earlier. Once the newly acquired Chaparral and Robalo brands are added in, which contributed for only six weeks after the deal closed on May 15, consolidated fourth quarter net sales reached $129.9 million, up 63.4%, and adjusted EBITDA hit $20.5 million, up 114.9%.
The company also cleaned up its channel. Dealer field inventory for the legacy business fell 30% year over year, with turnover now running ahead of pre-pandemic levels, a sign dealers are selling boats rather than sitting on them. Full-year adjusted net income reached $30.2 million, or $1.76 per diluted share, up from $15.1 million, or $0.92 per share, in fiscal 2025. The company generated $22.3 million in free cash flow for the year and, as of June 30, held $43.9 million in cash, zero debt, and a fully available $75 million credit line. MasterCraft's own retail sales grew low single digits for the year even as the broader powerboat industry fell mid to high single digits, and the newer Robalo brand posted high single-digit retail growth in the fishing boat category.
The picture gets murkier once you look past the flagship brand. The Leisure segment, home to the Crest and Balise pontoon boats, saw fourth-quarter sales fall 11.2% year over year to $12.1 million, and the company booked a $10.1 million non-cash impairment against Crest brand ******* ets tied to what management called current category conditions. On a GAAP basis, that charge combined with acquisition costs and purchase accounting adjustments turned the quarter into a net loss of $7 million, or $0.35 per diluted share, compared to net income of $5.5 million a year earlier. Operating expenses rose $23.1 million in the quarter, including $5.9 million in transaction costs tied to the acquisition.
#million #legacy
MasterCraft's core boat business is the reason the quarter worked at all. Legacy net sales, meaning the business before the acquisition, climbed 21.5% year over year to $96.6 million in the fourth quarter, powered by the next generation X Series lineup and less discounting at the dealer level. That combination of volume and pricing pushed legacy adjusted EBITDA margin up 730 basis points to 19.3%, up from 12% a year earlier. Once the newly acquired Chaparral and Robalo brands are added in, which contributed for only six weeks after the deal closed on May 15, consolidated fourth quarter net sales reached $129.9 million, up 63.4%, and adjusted EBITDA hit $20.5 million, up 114.9%.
The company also cleaned up its channel. Dealer field inventory for the legacy business fell 30% year over year, with turnover now running ahead of pre-pandemic levels, a sign dealers are selling boats rather than sitting on them. Full-year adjusted net income reached $30.2 million, or $1.76 per diluted share, up from $15.1 million, or $0.92 per share, in fiscal 2025. The company generated $22.3 million in free cash flow for the year and, as of June 30, held $43.9 million in cash, zero debt, and a fully available $75 million credit line. MasterCraft's own retail sales grew low single digits for the year even as the broader powerboat industry fell mid to high single digits, and the newer Robalo brand posted high single-digit retail growth in the fishing boat category.
The picture gets murkier once you look past the flagship brand. The Leisure segment, home to the Crest and Balise pontoon boats, saw fourth-quarter sales fall 11.2% year over year to $12.1 million, and the company booked a $10.1 million non-cash impairment against Crest brand ******* ets tied to what management called current category conditions. On a GAAP basis, that charge combined with acquisition costs and purchase accounting adjustments turned the quarter into a net loss of $7 million, or $0.35 per diluted share, compared to net income of $5.5 million a year earlier. Operating expenses rose $23.1 million in the quarter, including $5.9 million in transaction costs tied to the acquisition.
#million #legacy
1 month ago
We're getting the start of district play for a couple of Central Texas high school football Class 5A Division I districts as the 2026 season kicks off Week 3. Around the Austin area, this week's top matchups include another Westlake game - this week, the Chaparrals (2-0) take to the road for the first time at Class 6A power Prosper - and some intriguing pairings like Lake Travis at Cibolo Steele, Vandegrift at Liberty Hill, Cedar Park at Waco Midway, Converse Judson at Bowie and Dripping Springs at Round Rock.
Heck, it's even Thorndale vs. Thrall rivalry week at Bulldog Stadium.
Every school in our area top-five polls for Classes 6A, 5A and 4A/others are in action Friday night save for the Anderson Trojans, our No. 2 among area 5A teams who are off this week. We're monitoring two games tonight: Colby Gordon is checking out Vandegrift and Liberty Hill at Panther Stadium and Caleb Yum is providing live coverage out of Lake Travis at Cibolo Steele.
Follow this string throughout the night from those games and the more than 35 other games being played involving Austin-area teams:
MORE: Our staff picks for Westlake-Prosper, Vandegrift-Liberty Hill and other top Week 3 games
#vandegrift #we 're
Heck, it's even Thorndale vs. Thrall rivalry week at Bulldog Stadium.
Every school in our area top-five polls for Classes 6A, 5A and 4A/others are in action Friday night save for the Anderson Trojans, our No. 2 among area 5A teams who are off this week. We're monitoring two games tonight: Colby Gordon is checking out Vandegrift and Liberty Hill at Panther Stadium and Caleb Yum is providing live coverage out of Lake Travis at Cibolo Steele.
Follow this string throughout the night from those games and the more than 35 other games being played involving Austin-area teams:
MORE: Our staff picks for Westlake-Prosper, Vandegrift-Liberty Hill and other top Week 3 games
#vandegrift #we 're
1 month ago
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Performance outperformance was driven by disciplined channel management, with legacy field inventory reduced by approximately 30% year-over-year to improve turns to better than pre-pandemic levels.
The MasterCraft brand's success was anchored by the next-generation X Series rollout, which drove a favorable premium mix and offset lower industry-wide volumes.
Management attributed the 730 basis point expansion in legacy adjusted EBITDA margin to improved fixed cost absorption on higher unit volumes and lower promotional discounting.
The combination with Chaparral and Robalo is framed as a transformational pivot to a larger, more diversified platform spanning inland and coastal markets with broader price points.
#management #lower #NVIDIA
Performance outperformance was driven by disciplined channel management, with legacy field inventory reduced by approximately 30% year-over-year to improve turns to better than pre-pandemic levels.
The MasterCraft brand's success was anchored by the next-generation X Series rollout, which drove a favorable premium mix and offset lower industry-wide volumes.
Management attributed the 730 basis point expansion in legacy adjusted EBITDA margin to improved fixed cost absorption on higher unit volumes and lower promotional discounting.
The combination with Chaparral and Robalo is framed as a transformational pivot to a larger, more diversified platform spanning inland and coastal markets with broader price points.
#management #lower #NVIDIA
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1 month ago
Scottsdale Saguaro first-year coach Butch Goncharoff insists the football season is not going to be canceled, but, for the second week in a row, the roster is so depleted with injuries that the Sabercats have canceled their upcoming game.
They were scheduled to play ALA Queen Creek on Sept. 10, but on the morning of Sept. 7, Saguaro notified Patriots head coach Rich Edwards that the Sabercats had to cancel the game.
Last week, Saguaro canceled its game against rival Scottsdale Chaparral due to a safety issue with too many players banged up from the season-opening 62-0 loss to Scottsdale Desert Mountain.
Chaparral, a 5A team, was able to replace Saguaro with 4A Tempe and beat the Buffaloes 57-0 as a running clock started late in the second quarter. Tempe accepted the game after Phoenix Carl Hayden canceled its game with the Buffaloes.
"With the game being a short week, Thursday, it was still going to be hard to get enough players back," Goncharoff said in a text message. "But we are not canceling the season."
#scottsdale #canceled #season #sept
They were scheduled to play ALA Queen Creek on Sept. 10, but on the morning of Sept. 7, Saguaro notified Patriots head coach Rich Edwards that the Sabercats had to cancel the game.
Last week, Saguaro canceled its game against rival Scottsdale Chaparral due to a safety issue with too many players banged up from the season-opening 62-0 loss to Scottsdale Desert Mountain.
Chaparral, a 5A team, was able to replace Saguaro with 4A Tempe and beat the Buffaloes 57-0 as a running clock started late in the second quarter. Tempe accepted the game after Phoenix Carl Hayden canceled its game with the Buffaloes.
"With the game being a short week, Thursday, it was still going to be hard to get enough players back," Goncharoff said in a text message. "But we are not canceling the season."
#scottsdale #canceled #season #sept
2 months ago
Who's got the best high school football in the country? Texas, Florida and California have each long laid stake to that claim, but it's rare that we see good teams from those states play each other. But that's what's happening at Chaparral Stadium in Friday's much anticipated 2026 season opener between the Westlake Chaparrals and the Inglewood (Calif.) Sentinels.
Westlake is one of Texas' top programs. Inglewood is packed with FBS talent, including two defensive linemen committed to Texas A&M and Oklahoma and a defensive back who'll play at Cal. And Chaps quarterback Patton Jones is making his first start against a defense that had seven sacks in Inglewood's season opener last week.
Anderson receiver Kyler Sharp (15) makes a catch over Johnson defensive back Zavier Antoine (31) during the game at Hays High School on Thursday, August. 27, 2026 in Kyle, Texas. (Aaron E. Martinez/Austin American-Statesman)
But that's not the only big game of note tonight. While the big Lake Travis vs. Dripping Springs opener was canceled, there are still a couple of high-profile matchups that we're watching, including Weiss at Round Rock, a matchup of two of the American-Statesman's top 10 preseason power poll teams; Cedar Park and A&M Consolidated as the Timberwolves make their Class 6A debut; and Vandegrift at San Antonio Brennan, a matchup of two teams expected to win their Class 6A districts.
We're at three games tonight. Colby Gordon is covering the Weiss-Round Rock game at Dragon Stadium, Caleb Yum is at Westlake vs. Inglewood, watching all those college prospects at Chaparral Stadium, and Cory Mull is at Wrangler Stadium in Liberty Hill, where he's watching the Legacy Ranch Wranglers - Central Texas' newest high school - play their first varsity game ever at home against Manor New Tech.
#texas #westlake #school #play
Westlake is one of Texas' top programs. Inglewood is packed with FBS talent, including two defensive linemen committed to Texas A&M and Oklahoma and a defensive back who'll play at Cal. And Chaps quarterback Patton Jones is making his first start against a defense that had seven sacks in Inglewood's season opener last week.
Anderson receiver Kyler Sharp (15) makes a catch over Johnson defensive back Zavier Antoine (31) during the game at Hays High School on Thursday, August. 27, 2026 in Kyle, Texas. (Aaron E. Martinez/Austin American-Statesman)
But that's not the only big game of note tonight. While the big Lake Travis vs. Dripping Springs opener was canceled, there are still a couple of high-profile matchups that we're watching, including Weiss at Round Rock, a matchup of two of the American-Statesman's top 10 preseason power poll teams; Cedar Park and A&M Consolidated as the Timberwolves make their Class 6A debut; and Vandegrift at San Antonio Brennan, a matchup of two teams expected to win their Class 6A districts.
We're at three games tonight. Colby Gordon is covering the Weiss-Round Rock game at Dragon Stadium, Caleb Yum is at Westlake vs. Inglewood, watching all those college prospects at Chaparral Stadium, and Cory Mull is at Wrangler Stadium in Liberty Hill, where he's watching the Legacy Ranch Wranglers - Central Texas' newest high school - play their first varsity game ever at home against Manor New Tech.
#texas #westlake #school #play
2 months ago
It was no accident last year that all four of the state football semifinalists in Class 5A came from the same district.
That league, 2-5A, looks much the same as it did in 2025, with a couple of alterations. Chaparral has moved up from 4A and Alamogordo has dropped from 6A. Those two replace Santa Teresa and Lovington, who both are now 4A members for at least the next two seasons.
As always, the conversation begins (and frequently ends) with rivals Artesia and Roswell, who have met in each of the last three state **** le games. The Bulldogs came from behind to stun the Coyotes 25-24 in last November's final, and this fall, Artesia is chasing its 34th blue trophy.
"It's up to the rest of us to dethrone those two," Gadsden coach Dino Facio said.
Artesia graduated 35 seniors, and 21 starters, so the Bulldogs, who open against rival Carlsbad, are reloading. But they've got another 35 seniors this season.
#last #same #chaparral
That league, 2-5A, looks much the same as it did in 2025, with a couple of alterations. Chaparral has moved up from 4A and Alamogordo has dropped from 6A. Those two replace Santa Teresa and Lovington, who both are now 4A members for at least the next two seasons.
As always, the conversation begins (and frequently ends) with rivals Artesia and Roswell, who have met in each of the last three state **** le games. The Bulldogs came from behind to stun the Coyotes 25-24 in last November's final, and this fall, Artesia is chasing its 34th blue trophy.
"It's up to the rest of us to dethrone those two," Gadsden coach Dino Facio said.
Artesia graduated 35 seniors, and 21 starters, so the Bulldogs, who open against rival Carlsbad, are reloading. But they've got another 35 seniors this season.
#last #same #chaparral
