Recreational boats manufacturer Malibu Boats (NASDAQ: MBUU) will be announcing earnings results this Thursday before market open. Here’s what to expect.
Malibu Boats beat analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $228.7 million, up 12.4% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a decent beat of analysts’ EBITDA estimates. It reported 1,431 boats sold, up 12.8% year on year.
Is Malibu Boats a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Malibu Boats’s revenue to grow 23.7% year on year to $196.4 million, a reversal from the 57.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.46 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Malibu Boats has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Malibu Boats’s peers in the leisure products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Polaris’s revenues decreased 5.6% year on year, beating analysts’ expectations by 9.2%, and YETI reported a revenue decline of 3.8%, falling short of estimates by 3.7%. Polaris traded up 17% following the results while YETI was down 10.4%.
Read our full analysis of Polaris’s results here and YETI’s results here.
There has been positive sentiment among investors in the leisure products segment, with share prices up 6.1% on average over the last month. Malibu Boats is up 8.3% during the same time and is heading into earnings with an average analyst price target of $36.14 (compared to the current share price of $38.29).
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