Malibu Boats, Inc. Provides Earnings Guidance for the Second Quarter and Reaffirms Earnings Guidance for the Fiscal Year 2020
November 07, 2019 at 07:00 pm IST
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Malibu Boats, Inc. provided earnings guidance for the second quarter and reaffirmed earnings guidance for the fiscal year 2020. The company's consolidated outlook for fiscal 2020 remains unchanged. As expected, net sales growth in the first quarter was strong. Consolidated net sales is still expected to grow at a mid- to high single-digit percentage for the full fiscal year 2020. However, second quarter of fiscal year 2020 will likely be down a low single-digit percentage year-over-year driven by the decreased volume to the UAW strike.
Malibu Boats, Inc. is a designer, manufacturer and marketer of a diverse range of recreational powerboats, including performance sport boats, sterndrive and outboard boats. The Company's brands include Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes and Cobalt. The Companyâs Malibu segment includes manufacturing, distribution, marketing and sale of Malibu and Axis performance sports boats throughout the world. The Company's product portfolio of premium brands is used for a broad range of recreational boating activities including, among others, water sports, general recreational boating and fishing. The Companyâs Saltwater Fishing segment is engaged in manufacturing, distribution, marketing and sale throughout the world of Pursuit boats and the Maverick Boat Group boats (Maverick, Cobia, Pathfinder and Hewes). The Companyâs Cobalt segment is engaged in manufacturing, distribution, marketing and sale of Cobalt boats throughout the world.