Tag Archives: MasterCraft

MasterCraft purchases Merritt Island plant

Avaiara gets new boat building plant

MasterCraft Boat Company announced it has entered into an agreement to purchase a boat manufacturing plant located in Merritt Island, Florida. MasterCraft intends to establish a dedicated manufacturing center in this facility to support the long-term growth of its recently introduced Aviara brand.   Aviara, a designer, manufacturer and marketer of luxury day boats ranging from 32 to 40-feet in length, ...

Read More »

MasterCraft announces partial repayment of revolving credit agreement

MasterCraft logo

MasterCraft Boat Holdings, Inc. announced it repaid $25 million of its revolving credit agreement. In March 2020, the company drew down $35 million of its revolving credit agreement as a precautionary measure in order to increase its cash position and preserve financial flexibility in response to the uncertainty in the global markets resulting from the COVID-19 pandemic. Tim Oxley, Chief ...

Read More »

MasterCraft reports decreased sales for Q3

MasterCraft logo

MasterCraft Boat Holdings, Inc. announced financial results for its fiscal 2020 third quarter ended March 29, 2020. “With the onset of the COVID-19 pandemic, all of us have been forced to adapt to new challenges that have impacted our families, our work, and our day-to-day lives," MasterCraft CEO Fred Brightbill said. "I want to thank the MasterCraft team for their ...

Read More »

Surf’s Up

By David Gee Up. That’s about the only direction the towboat segment has known for some time, give or take a few tough months. Bigger boats. Heavier boats. Boats with more ballast. Boats with more features. Higher price tags. And more sales. And 2020 continued that trend. For a short while anyway. Malibu Boats, for example, reported in February that ...

Read More »

MasterCraft joins others in temporary suspension of manufacturing

MasterCraft logo

MasterCraft Boat Holdings, Inc. recently provided an update on its business and announced several actions that the company is taking to protect the health and safety of its employees, dealers and communities in light of the COVID-19 pandemic. “COVID-19 is posing unprecedented challenges and uncertainty for MasterCraft, our industry and the entire global economy,” said Fred Brightbill, CEO and Chairman ...

Read More »

MasterCraft announces executive promotions

MasterCraft logo

MasterCraft Boat Holdings, Inc. announced that it has promoted George Steinbarger, the Company’s vice president of strategy and business development, and Dave Ekern, vice president of operations, to the newly created roles of chief revenue officer and chief product officer, respectively. “Since joining MasterCraft, George and Dave have helped propel our success and position the Company for the future,” said ...

Read More »

MasterCraft aims to ‘right-size’ dealer inventory

MasterCraft logo

MasterCraft Boat Holdings, Inc. announced financial results for its fiscal 2020 second quarter ended Dec. 29, 2019. Net Sales for the second quarter were $99.6 million, a decrease of $21.9 million, or 18%, compared to $121.5 million for the prior-year period. The company said the decrease was primarily due to a reduction in unit sales volumes across each of reportable ...

Read More »

MasterCraft names new CEO

MasterCraft Boat Holdings, Inc., parent entity of MasterCraft, NauticStar and Crest, today announced that its board of directors has named current board chair and interim chief executive officer, Frederick A. Brightbill, as the company’s new permanent CEO, effective immediately. Brightbill assumed the role of Interim CEO following Terry McNew’s resignation in October 2019. Concurrently, Roch Lambert, CEO of Curt Group, an automotive product aftermarket ...

Read More »

MasterCraft posts 17.2% sales increase for Q1 FY20

MasterCraft Boat Holdings, Inc. announced financial results for its fiscal 2020 first quarter ended September 29, 2019. First Quarter Highlights: Net sales increased to $109.8 million, up 17.2 percent from $93.6 million in the prior-year period.GAAP net income was $8.6 million, up slightly from $8.5 million in the prior-year period.GAAP diluted earnings per share increased in the first quarter by $0.01, up 2.2 percent to $0.46, from the prior ...

Read More »

MasterCraft makes leadership transition following McNew departure

MasterCraft Boat Holdings, Inc., parent entity of MasterCraft, NauticStar and Crest, today announced that its Board of Directors has appointed current Board Chair, Frederick A. Brightbill, as interim chief executive officer, effective immediately. Brightbill’s appointment follows Terry McNew’s decision to step down as president, chief executive officer and a director of the company to pursue an opportunity outside of the boating ...

Read More »