MasterCraft Reduces Q1 Guidance; Reaffirms Full Year Guidance

MasterCraft Boat Holdings, Inc. (MCFT) said the company is revising first quarter guidance due principally to a temporary delay in the shipment of a key component from a single engine parts supplier for the MasterCraft brand. The company reaffirmed its guidance for fiscal 2022.

"By working closely with our supplier to resolve this temporary delay, we expect shipments of these key parts to resume early in the fiscal second quarter, enabling us to reaffirm our full year guidance," said Fred Brightbill, CEO.

For the first-quarter, the company now expects adjusted earnings per share to decrease in the low-double digit percent range year-over-year, compared to the prior estimate of growth up in the low-20 percent range. The company now expects consolidated net sales growth to be up approaching the 30 percent range, compared to the prior estimate of up in the mid-30 percent range.

Shares of MasterCraft Boat Holdings were down 5% in pre-market trade on Friday.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
HSBC Holdings Plc shares were gaining In London trading as well as in pre-market activity on the NYSE after the Asia-focused lender backed its positive outlook after reporting significantly higher third-quarter profit. Further, the company announced share buyback of $2 billion, which will be commenced shortly. Walmart is recalling certain Aromatherapy Room Spray due to the possible presence of a rare and dangerous bacteria that is suspected to be behind two deaths in the United States, the U.S. Consumer Product Safety Commission said. The recall involves about 3,900 bottles of Better Homes and Gardens-branded Essential Oil Infused Aromatherapy Room Spray with Gemstones in six different scents. Royal Caribbean Group's ultra-luxury brand Silversea Cruises is set to launch the world's first hybrid-powered cruise ship in the summer of 2023. This will also be the first ship with large-scale fuel cell technology to enable emission-free port operations. The fuel cells will provide 100% of power while at port.
Follow RTT