Q1 2026 Malibu Boats Inc Earnings Call Transcript
Key Points
- Malibu Boats Inc (MBUU) reported a 13.5% increase in net sales to $194.7 million, driven by increased unit volumes and favorable model mix.
- The company launched the NBI Accepted financing partnership, which has received positive feedback and strong dealer engagement.
- New product launches, including the Malibu 21LX, Axis A200, and Cobalt R31 Outboard, have been well-received, generating excitement among dealers and customers.
- Malibu Boats Inc (MBUU) maintained its full-year guidance, reflecting confidence in its ability to outperform the market.
- The company demonstrated strong operational execution, with adjusted EBITDA increasing 19.1% to $11.8 million and adjusted EBITDA margin improving to 6.1%.
- Retail activities remained soft, with elevated inventories entering the quarter, necessitating targeted promotions to manage dealer inventory levels.
- Gross profit decreased by 1% to $27.9 million, with gross margin declining by 210 basis points due to higher labor and material costs.
- The company anticipates a competitive promotional environment, which could impact margins and dealer incentives.
- Malibu Boats Inc (MBUU) expects the market to decline mid- to high-single-digits for the year, with a continuation of declines in the second quarter.
- Tariffs are expected to impact the fiscal-year 2026 cost structure, estimated between 1.5% to 3% of cost of sales, requiring strategic supply chain management to mitigate effects.
Good morning, and welcome to the Malibu Boats conference call to discuss first-quarter fiscal 2026 results. (Operator Instructions) Please be advised that the reproduction of this call in whole or in part is not permitted without written authorization of Malibu Boats. And as a reminder, today's call is being recorded. On the call today from management are Mr. Steve Menneto, Chief Executive Officer; and Mr. Bruce Beckman, Chief Financial Officer.
I will now turn the call over to Mr. Beckman to get it started. Please go ahead, sir.
Thank you, and good morning, everyone. Joining me on today's call is our CEO, Steve Menneto. On the call, Steve will provide commentary on the business, and I will discuss our first quarter of fiscal year 2026 financials. We will then open the call for questions. A press release covering the company's fiscal first quarter 2026 results was issued today, and a copy of that press release can be found in the investor relations section of the company's website. I also want
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