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MasterCraft (MCFT) Reports Earnings Tomorrow: What To Expect

MCFT Cover Image

Sport boat manufacturer MasterCraft (NASDAQ: MCFT) will be reporting results this Wednesday before market hours. Here’s what you need to know.

MasterCraft beat analysts’ revenue expectations by 1.4% last quarter, reporting revenues of $75.96 million, down 9.5% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but a miss of analysts’ boats sold estimates. It reported 619 boats sold, down 19.2% year on year.

Is MasterCraft a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting MasterCraft’s revenue to grow 4.3% year on year to $70.06 million, a reversal from the 59.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.18 per share.

MasterCraft Total Revenue

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. MasterCraft has missed Wall Street’s revenue estimates four times over the last two years.

Looking at MasterCraft’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% on average over the last month. MasterCraft is up 5.2% during the same time and is heading into earnings with an average analyst price target of $18.75 (compared to the current share price of $21.35).

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