Why MasterCraft Boat (MCFT) Shares Are Plunging Today - MasterCraft Boat Hldgs (NASDAQ:MCFT)

MasterCraft Boat Holdings Inc MCFT reported fourth-quarter FY22 sales growth of 40% year-on-year to $217.65 million, beating the consensus of $195.26 million.
Gross profit jumped 48% Y/Y to $55 million and the gross margin expanded by 140 basis points Y/Y to 25.3%.
The operating margin was 7.2%, and the operating income for the quarter was $15.8 million.
The company held $34.2 million in cash and equivalents as of June 30, 2022.
Adjusted EBITDA rose 65.6% Y/Y to $44.6 million. Adjusted EBITDA margin expanded 320 basis points to 20.5%, primarily due to higher net sales.
Adjusted EPS of $1.77 beat the analyst consensus of $1.50.
Outlook: For Q1 FY23, Mastercraft Boat expects sales of about $165 million versus the Street view of $164.51 million. It sees Q1 adjusted EPS of about $1.30 against the estimate of $1.03.
The company sees FY23 sales of $580 million - $615 million, against the analyst consensus of $711.81 million.
It expects FY23 adjusted EPS of $3.89 - $4.31 versus the consensus of $4.87.
Price Action: MCFT shares are trading lower by 14.11% at $20.40 on the last check Thursday.

MasterCraft Boat Plummets As FY23 Outlook Lags Street View