MasterCraft Boat Holdings has reported financial results for its fourth quarter and full year ended 30 June 2025. The US-based company’s operations cover the MasterCraft and Pontoon segments.
For the fourth quarter, net sales were $79.5m, an increase of $25.2m, or 46.4 per cent, compared to the same period in 2024. Adjusted EBITDA rose to $9.5m, compared to $1.6m in the prior year. The company repurchased $4.5m of shares during the quarter.
For the full year, net sales were $284.2m, representing a decrease of $38.1m, or 11.8 per cent, from fiscal 2024. The company notes that planned lower production contributed to dealer inventory levels being about 30 per cent lower than the previous year. Income from continuing operations was $10.7m, compared with $23.2m in the prior year. Adjusted net income was $15.1m, down from $28.9m in 2024.
MasterCraft’s chief financial officer, Tim Oxley, will retire this year, effective December 31, 2025. Scott Kent, vice president of finance, succeeded Oxley as CFO on 1 July 2025, and the pair are currently in a transition period.
Adjusted EBITDA was $24.4m, compared to $40.2m a year earlier. Net cash provided by operating activities reached $38.2m, with $29m of free cash flow generated. The company ended the fiscal year with $79.4m in cash and investments, $100m available on its revolving credit facility, and no outstanding debt.
Chief executive officer Brad Nelson says: “MasterCraft executed well in fiscal 2025, successfully navigating a challenging economic and industry backdrop. In the face of low cycle volumes, we further strengthened dealer health, advanced our new product initiatives, and generated significant free cash flow. This enabled us to return nearly $10m of capital to shareholders.”
He continues: “Our strong financial foundation provides us with the flexibility to pursue our core strategic initiatives, including investments in innovation and dealer health. As we manage through a dynamic environment, our leading brand portfolio and cash flow generation position us well to invest for the future and maintain the flexibility to return capital to shareholders.
“Our ongoing destocking progress, product innovation, and expanded distribution network position us well for fiscal 2026 and beyond. We have detailed plans in place for a range of potential retail demand scenarios and will continue to apply the cost discipline and tight working capital management that served us well in 2025. Based on our operating model and execution, we expect to generate positive free cash flow again in fiscal 2026.”
For fiscal 2026, Tennessee-based MasterCraft expects consolidated net sales between $295m and $310m. Capital expenditures are projected to be about $9m. For the first quarter of fiscal 2026, the company anticipates consolidated net sales of about $67m.
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