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
The Goldman Sachs Group, Inc. (GS) reported that its third quarter net earnings applicable to common shareholders increased 63 percent year-on-year. Net revenues were also significantly higher reflecting significantly higher net revenues in Investment Banking, Global Markets and Consumer & Wealth Management,... Butterball, LLC recalled about 14,107 pounds of ground turkey products for potential contamination with foreign materials, specifically blue plastic material, the U.S. Department of Agriculture's Food Safety and Inspection Service (FSIS) said in a statement. Specialized Bicycle Components, Inc. is recalling about 6,900 units of Tarmac SL7 Bicycles and Framesets for potential risk of fall and injury hazard, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said the bicycle's fork steerer tube can crack or break after harsh impact such as hitting a deep pothole or other stress event, posing fall and injury hazards.
Follow RTT