Why Malibu Boats Shares Are Gaining Today

  • Malibu Boats Inc MBUU reported third-quarter FY22 sales growth of 26% year-on-year to $344.29 million, beating the consensus of $304.49 million.
  • The revenue increase was driven primarily by year-over-year price increases, a favorable model mix, and increased unit volumes primarily in Malibu and Cobalt segments.
  • The gross profit increased 34.8% Y/Y to $97.1 million, with the margin expanding 180 basis points Y/Y to 28.2%.
  • The operating margin was 20.8%, and operating income for the quarter rose 52.5% to $71.5 million.
  • The company held $56.96 million in cash and equivalents as of March 31, 2022.
  • Adjusted EBITDA rose 39.9% Y/Y to $79.8 million, with the margin expanding from 20.9% to 23.2%.
  • Adjusted EPS of $2.61 beat the analyst consensus of $1.96.
  • Outlook: Malibu Boats sees FY22 sales growth of 28% - 29% Y/Y and Adjusted EBITDA margins to approach 20.5%.
  • Price Action: MBUU shares are trading higher by 10.4% at $57.74 on the last check Tuesday.

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