MasterCraft sales more than double following merger

MasterCraft Boat Holdings has reported net sales of US$154.1m for the three months ended 4 October 2026, up 123.4 per cent on the same period last year.

The total includes US$59.3m in sales from Marine Products, following the merger completed on 15 May 2026. Without that contribution, sales rose by US$25.8m, or 37.4 per cent.

The results cover the first half of a six-month transition period as MasterCraft moves its financial year-end from 30 June to 31 December. The change brings its reporting calendar into line with that previously used by Marine Products.

Income from continuing operations rose to US$12.1m, or US$0.50 per diluted share, from US$3.7m, or US$0.22 per diluted share.

Brad Nelson, CEO of MasterCraft Boat Holdings, says: “We delivered results above our expectations in the first quarter of the Transition Period, with total company net sales growing more than 120 per cent year-over-year. Importantly, our legacy business net sales grew 37 per cent and delivered Adjusted EBITDA growth of nearly 140 per cent, reflecting the deliberate product, commercial, and operational actions we have taken across our business to drive premium mix, clean channels, and reduce costs.”

Sales in the performance and wake segment increased by 40.5 per cent to US$81.7m, with unit sales rising from 377 to 457. Leisure segment sales grew by 20.6 per cent to US$13.1m, while unit sales increased from 188 to 225. The recreation and sport Ffshing segment, added through the merger, recorded sales of 569 boats.

Beyond the merger contribution, the company attributes revenue growth to higher unit volumes, changes in model mix and increased prices in its performance and wake and leisure segments.

Nelson adds: “The success of the next-generation X-Series is a clear example of the strength of our product and portfolio strategy and our ability to translate a deep understanding of our consumers into products that resonate in the market. Combined with our ongoing cost, productivity, and quality initiatives, those actions are driving stronger earnings and margin performance.”

Gross margin fell from 22.3 per cent to 21.1 per cent, mainly because of the inclusion of Marine Products. Operating expenses rose by US$8.9m, reflecting the additional business, acquisition and integration costs and higher selling and marketing expenditure.

Margins and six-month outlook

Adjusted EBITDA rose from US$7m to US$20.1m, with its margin increasing from 10.1 per cent to 13 per cent. Adjusted net income reached US$12.2m, compared with US$4.7m. Both are non-GAAP financial measures.

MasterCraft repurchased US$4.8m of shares during the period, leaving US$18.7m available under its repurchase programme.

For the six months ending 31 December 2026, the company forecasts consolidated net sales of US$293m to US$297m and adjusted EBITDA of US$32m to US$34m. It expects adjusted earnings per share of US$0.75 to US$0.80 and capital expenditure of approximately US$9m.

Nelson says: “This quarter reinforces three important drivers of our long-term earnings potential. First, commercial and operational execution across our business is translating into higher earnings. Second, our expanded brand portfolio and growing dealer network are creating new opportunities for growth across categories and end markets. And third, the investments we are making to capture synergies and leverage the scale and capabilities of the combined company provide meaningful opportunities that we believe will drive further value creation.”

Mastercraft expanded its North American and European dealer network during the Q1 2026 transition period, adding 13 Crest and Balise pontoon dealerships across the US and Canada alongside new Chaparral and Robalo appointments.

Based in Vonore, Tennessee, MasterCraft Boat Holdings manufactures recreational powerboats under the MasterCraft, Crest, Balise, Chaparral and Robalo brands.