Q2 2026 Malibu Boats Inc Earnings Call Transcript
Key Points
- Malibu Boats Inc (MBUU) reported solid second quarter results with net sales of $188.6 million, exceeding expectations despite a challenging retail environment.
- The company successfully executed its year-end sales event, outperforming the prior year and driving December retail activity.
- Malibu Boats Inc (MBUU) is set to debut two new models at the Miami International Boat Show, showcasing continued innovation and product differentiation.
- The Malibu 23 LSV was recognized as Surfboat of the Year for the sixth consecutive year, reinforcing the company's leadership in the towboat segment.
- The company is seeing early traction with its MBI Acceptance program, offering competitive retail financing options to enhance customer engagement and sales.
- Net sales decreased by 5.8% to $188 million, and unit volume decreased by 9.5% to 1,106 units, primarily due to lower wholesale shipments.
- Gross profit decreased by 32.9% to $25.1 million, with gross margin as a percentage of sales dropping by 540 basis points compared to the prior year.
- The company reported a GAAP net loss of $2.5 million for the quarter, compared to a GAAP net income of $2.4 million in the prior year.
- Adjusted EBITDA decreased by 52.5% to $8 million, with the adjusted EBITDA margin falling to 4.3% from 8.4% in the prior year.
- The company anticipates continued pressure on average selling prices (ASPs) due to an unfavorable segment mix and challenging year-over-year comparisons.
Good morning and welcome to Malibu Boats conference call to discuss second quarter 2026 results. (Operator Instructions) Please be advised that reproduction of this call in whole or in part is not permitted without written authorization of Malibu Boats. As a reminder, today's call is being recorded
On the call today from management are Steve Menneto, Chief Executive Officer; and Mr. David Black, Chief Financial Officer. I will now turn the call over to Mr. Black to get it started. Please go ahead, sir
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 second quarter of fiscal year 2026 financials. We will then open up the call for questions.
A press release covering the company's fiscal second quarter 2026 results was issued today, and a copy of that press release came down in the Investor Relations section of the company's website. I also want to remind everyone that management's
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