Malibu Boats, Inc. recently announced its financial results for the first quarter ended September 30, 2022.
Net sales for the three months ended September 30, 2022 increased $48.7 million, or 19.2%, to $302.2 million as compared to the three months ended September 30, 2021. Unit volume for the three months ended September 30, 2022, increased 213 units, or 10.5%, to 2,237 units as compared to the three months ended September 30, 2021.
Gross profit for the three months ended September 30, 2022 increased $14.9 million, or 24.9%, to $74.6 million compared to the three months ended September 30, 2021.
“Supported by the continued strength across our brands, we maintained our momentum and delivered a record first quarter for fiscal year 2023, with net sales increasing 19.2%, net income increasing 29.3% and Adjusted EBITDA growing 27.6% compared to the prior year period. Our operating model, vertical integration capabilities and strategic leadership continue to shine through, helping us execute on our objectives and remain a market leader in the marine industry,” commented Jack Springer, Chief Executive Officer of Malibu Boats, Inc.
“While supply chain challenges persist, demand for our larger, feature rich boats has remained strong, particularly in the saltwater segment, which was highlighted at the season’s first boat shows. However, we are cognizant of the headwinds facing the consumer, and as always, our teams remain agile and poised to take action should we see any material shift in demand trends,” continued Springer. “As we set our sails on the year ahead, we remain confident that our operational excellence and industry-leading brand power will continue to propel Malibu through fiscal year 2023, which we believe will ultimately generate profitable growth and long-term value for our stockholders.”
Click here for Malibu's full Q1 FY23 report.