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Malibu Boats Inc   (MBUU)
Other Ticker:  
 
    Sector  Capital Goods    Industry Ship & Boat Building
 
Price: $39.3400 $1.10 2.877%
Day's High: $39.845 Week Perf: -2.89 %
Day's Low: $ 38.23 30 Day Perf: -16.99 %
Volume (M): 422 52 Wk High: $ 62.36
Volume (M$): $ 16,586 52 Wk Avg: $51.44
Open: $38.27 52 Wk Low: $37.70



 Market Capitalization (Millions $) 805
 Shares Outstanding (Millions) 20
 Employees 509
 Revenues (TTM) (Millions $) 1,214
 Net Income (TTM) (Millions $) 66
 Cash Flow (TTM) (Millions $) 6
 Capital Exp. (TTM) (Millions $) 85

Malibu Boats Inc

We are a leading designer, manufacturer and marketer of performance sport boats, having the #1 market share position in the United States since 2010. Our boats are used for water sports, including water skiing, wakeboarding and wake surfing, as well as general recreational boating. Since inception in 1982, we believe we have been a consistent innovator in the powerboat industry, designing products that appeal to an expanding range of recreational boaters and water sports enthusiasts whose passion for boating and water sports is a key aspect of their lifestyle. We believe many of our innovations, such as our proprietary Surf Gate technology launched in 2012, expand the market for our products by introducing consumers to new and exciting recreational activities. We believe that our boats are increasingly versatile, allowing consumers to use them for a wide range of activities that enhance the experience of a day on the water with family and friends. While there is no guarantee that we will achieve market share growth in the future, we believe that the performance, quality, value and multi-purpose features of our boats position us to achieve our goal of increasing our market share in the expanding recreational boating market.

We sell our high performance boats under two brands-Malibu and Axis Wake Research, or Axis. Our flagship Malibu brand boats offer our latest innovations in performance, comfort and convenience, and are designed for consumers seeking a premium boating experience. Retail prices of our Malibu boats typically range from $60,000 to $130,000. We launched our Axis brand of boats in 2009 to appeal to consumers who desire a more affordable product but still demand high performance, functional simplicity and the option to upgrade key features. Retail prices of our Axis boats typically range from $45,000 to $85,000.


Our boats are constructed of fiberglass, equipped with inboard propulsion systems and available in a range of sizes and hull designs. We employ experienced product development and engineering teams that enable us to offer a range of models across each of our brands while consistently introducing innovative features in our product offerings. Our engineering team closely collaborates with our manufacturing personnel in order to improve product quality and process efficiencies. The results of this collaboration are reflected in our receipt of numerous industry awards, including the Watersports Industry Association’s Innovation of the Year in 2010 and 2013.


We sell our boats through a dealer network that we believe is the strongest in the performance sport boat category. Our distribution channel consisted of 114 independent dealers in North America operating in 154 locations in North America and we had 64 independent dealer locations across 44 countries outside of North America, including Australia. Our boats are the exclusive performance sport boats offered by the majority of our dealers. Additionally, we believe that our Australia segment is the largest performance sport boat manufacturer in that country. Our dealer base is an important part of our consumers’ experience, our marketing efforts and our brands. We devote significant time and resources to find, develop and improve the performance of our dealers and believe our dealer network gives us a distinct competitive advantage.

Our product development strategy consists of a two-pronged approach. First, we seek to introduce new boat models to target unaddressed or underserved segments of the performance sport boat category, while also updating and refreshing our existing boat models regularly. For example, we introduced Axis-branded boats starting in 2009 to address the entry-level segment of our category, and we launched the Malibu Wakesetter MXZ product line in 2012 to enter the premium “picklefork” bow design segment of our market. Second, we seek to develop and integrate innovative new features into our boats, such as Surf Gate, Malibu Touch Command and Power Wedge. Over the past two years, we have continued these strategies by introducing seven new models, including four in the Axis line, and enhanced its optional feature offerings with the new Power Wedge II and the industrys first 12-inch touchscreen dash system. For the 2016 model year, which began July 1, 2015, we released the Wakesetter 25 LSV, the Wakesetter 20 VTX and the Axis A20. In addition, on our model year 2016 products, we offer an improved Surf Gate system with hydraulic actuators, our patented rider controlled Surf Band technology, new windshields, new vinyl and backup cameras. Furthermore, at the end of fiscal 2015 we began production of trailers for the model year 2016 product, continuing our vertical integration strategy focused on delivering better quality and value to our consumers while enhancing margins. We intend to continue releasing new products and features multiple times during the year, which we believe enhances our reputation as a leading-edge boat manufacturer and provides us with a competitive advantage.

Our manufacturing efforts are led by our Chief Operating Officer, who brings 30 years of experience in the manufacture of performance sport boats. We manufacture our boats at both our Tennessee and Australia facilities, and we manufacture towers, tower accessories and stainless steel and aluminum billet at our California facility. Beginning with model year 2016, we began manufacturing our own trailers at our Tennessee facility.


Our boats are built through a continuous flow manufacturing process that encompasses fabrication, assembly, quality management and testing. Each boat is produced over a seven-day cycle that includes the fabrication of the hull and deck through gelcoat application and fiberglass lamination, grinding and hole cutting, installation of components, rigging, finishing, detailing and on-the-water testing. Trailers are also produced in a continuous flow manufacturing process involving cutting and bending of the main frame from raw top grade carbon steel, painting using our state of the art system and installation of components. We manufacture certain components and subassemblies for our boats, such as upholstery, stainless steel and aluminum billet and towers. We procure other components, such as engines and electronic controls, from third-party vendors and install them on the boat.


We acquired our tower and tower accessory manufacturing capability in 2009 through the acquisition of certain assets of Titan Wake Accessories, which had been one of our suppliers. Tower-related manufacturing occurs in our Merced-based machine shop, where we use multiple computer-controlled machines to cut all of the aluminum parts required for tower assembly. We are the only performance sport boat company that manufacturers towers in-house. We believe that the vertical integration of these components is a distinct competitive advantage that allows us to control key design elements of our boats and generate higher margins.


We are committed to continuous improvement in our operations, and our efforts in this regard have resulted in higher gross margins. Specifically, we have increased labor efficiency, reduced cost of materials and reduced warranty claims. Our production engineers evaluate and seek to optimize the configuration of our production line given our production volumes and model mix. We use disciplined mold maintenance procedures to maintain the usable life of our molds and to reduce surface defects that would require rework. We have instituted scrap material reduction and recovery processes, both internally and with our supplier base, helping to manage our material costs. Finally, we have implemented a quality management system to ensure that proper procedures and control measures are in place to deliver consistent, high-quality product, especially as our production volumes have increased.

 



   Company Address: 5075 Kimberly Way Loudon 37774 TN
   Company Phone Number: 458-5478   Stock Exchange / Ticker: NASDAQ MBUU
   


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
MPX   -1.87%    
BC   -2.73%    
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Malibu Boats Inc

The Ship & Boat Building Company Continues to Struggle with Challenging Second Quarter Earnings Season in 20242.

During the past five days, Malibu Boats Inc stock has experienced a decline of -6.28%. This brings the year-to-date performance to -7.25%. Additionally, the stock is currently trading only 18.9% above its 52-week low. These figures indicate a challenging period for the company.
Looking specifically at the October to December 31, 2023 fiscal period, Malibu Boats Inc experienced a significant decrease in income per share, with a dive of -71.51% from $1.72 per share to $0.49 per share compared to the previous year. Profit also plummeted by -50% from $0.98 per share in the previous reporting period. This decrease in profitability can be attributed to a decline in revenues, which faded by -37.864% to $210.48 million compared to $338.73 million in the same period a year ago. Sequentially, revenue fell by -17.717% from $255.79 million.

Product Service News

Malibu Boats Inc's All-New 2024 Malibu M242 Sets Sail for Success Amidst Industry Challenges

Published Thu, Nov 9 2023 6:57 PM UTC

Introducing the All-New 2024 Malibu M242: A Game-Changer in Watersports Towboat Sales
Malibu Boats Inc, the global leader in watersports towboat sales, has recently unveiled its highly anticipated flagship model, the Malibu M242, set to revolutionize the industry in 2024. This innovative release comes at a crucial time for the company, as they strive to bounce back from ...

Malibu Boats Inc

Revised headline: Malibu Boats Inc Grapples with Challenging Business Environment, Experiences Steep -15.359% Revenue Decrease in Q1 2024 Earnings Season

Malibu Boats Inc (MBUU) faced a challenging fiscal year, with both top and bottom-line figures exhibiting a significant decline. The net profit per share plummeted by a staggering -42.01%, while revenue dropped by -15.359% year on year. Comparing the fiscal periods ending September 30, 2022, to September 30, 2023, revenue decreased from $302.21 million to $255.79 million, and earnings per share fell from $1.69 to $0.98.
However, it is worth noting that the company displayed signs of improvement compared to the previous fiscal period. Net profit per share turned positive, showing a considerable turnaround from -$0.85 per share. Furthermore, although revenue still tumbled by -31.281% compared to the same period a year ago, the decline was less pronounced than in the prior year.
In the July to September 30, 2023 period, net earnings dropped by -42.47% to $20.770 million, down from $36.105 million in the corresponding period a year before. These disappointing figures reflect the challenging business environment that Malibu Boats Inc faced during this time.

Malibu Boats Inc

Malibu Boats Inc. Struggles with Deficit: Analyzing Financial Figures and Impact on Future Growth



The financial results of Malibu Boats Inc for the fiscal period ending on June 30, 2023, provide valuable insights into the company's performance. With a decline in EPS, contrasting revenue growth, and various other factors affecting inventories and accounts receivable, it is important to delve into these results to understand their impact on the company's future. This article aims to analyze the financial figures and contemplate their implications for Malibu Boats Inc moving forward.
1. Earnings Per Share (EPS):
Malibu Boats Inc experienced a significant decline in EPS, with a shortfall of $-0.85 per share compared to $2.32 a year ago, and a decrease from $2.51 per share in the previous quarter. This decline indicates a potential decrease in profitability and raises concerns about the company's financial health.

Malibu Boats Inc

The Marine Transportation company reported a stable improvement, over the fiscal third quarter of 2023

Malibu Boats Inc. is a reputable manufacturer of high-performance sports boats. In the most recent fiscal period, the company's earnings per share (EPS) remained strong at $2.51 per share, which is the same as the previous year. However, there has been an impressive growth of 45.93% in earnings per share from the previous period of $1.72 per share. This growth has created a positive outlook for the company in the stock market.
Moreover, Malibu Boats Inc. has also shown impressive revenue growth this year. The revenue has advanced by 8.955% to $375.12 million this year, compared to $344.29 million in the same period last year. Sequentially, the revenue has advanced by 10.742% from $338.73 million. This growth indicates that the company has made significant strides in meeting the needs of customers and providing quality products.






 

Malibu Boats Inc's Segments
 
 
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