Malibu Boats, Inc. announced its financial results for the second quarter ended December 31, 2020.
Fiscal Second Quarter 2021 Highlights Compared to Fiscal Second Quarter 2020:
- Net sales increased 8.6% to $195.6 million
- Unit volume declined 3.4%
- Gross profit increased 24.1% to $49.5 million
- Net income increased 25.8% to $22.1 million
- Adjusted EBITDA increased 27.5% to $39.1 million
- Adjusted fully distributed net income per share increased 31.2% to $1.22
“We further extended our leadership position in our second fiscal quarter, leveraging the strong retail environment and our industry-leading operational excellence to deliver ahead of plan sales, very strong gross margins and historic adjusted EBITDA results for our second quarter," commented Jack Springer, Chief Executive Officer of Malibu Boats, Inc.
“Underscoring our strong M&A track record, at the end of the fiscal second quarter, we welcomed Maverick Boat Group and its complementary line-up of brands – Cobia, Pathfinder, Maverick and Hewes – to the Malibu family. This transaction adds a strong player in the center console, dual console and bay boat space with a distinguished reputation and enhances our breadth of saltwater outboard offerings. As we look to the balance of the fiscal year, we continue to see demand for our premium brands and upgraded features and options, and for several of our brands, we are building more boats than we have seen in the history of the company. We remain incredibly optimistic for the second half of fiscal year 2021 to capture market share while serving our loyal and growing customer base," added Springer.