MasterCraft Boat Holdings reported a sharp increase in sales and earnings for the first three months of its transition period, helped by its May acquisition of Marine Products. The company also said sales and earnings improved in its existing businesses, while the combined company continued to incur acquisition and integration costs.
The results cover the three months ended October 4, 2026. MasterCraft has moved its fiscal year-end from June 30 to December 31 to align with Marine Products, so it will report a six-month transition period ending December 31 before adopting the new calendar.
Key details
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Sales more than doubled: Net sales were $154.1 million, up $85.1 million, or 123.4%, from the year-earlier period. The addition of Marine Products contributed $59.3 million in sales.
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Existing businesses also grew: Excluding Marine Products, sales rose $25.8 million, or 37.4%. MasterCraft attributed the increase to higher unit volumes, a favorable mix of models and higher prices in its Performance and Wake and Leisure segments.
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Earnings increased: Income from continuing operations was $12.1 million, or $0.50 per diluted share, compared with $3.7 million, or $0.22 per share, a year earlier.
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Adjusted results were higher: Adjusted net income, a non-GAAP measure, was $12.2 million, or $0.50 per diluted share, versus $4.7 million, or $0.29 per share. Adjusted EBITDA rose to $20.1 million from $7.0 million, while its margin increased to 13.0% from 10.1%.
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Margins faced acquisition-related pressure: Gross margin declined 120 basis points year over year. MasterCraft said the inclusion of Marine Products was the main reason, partly offset by higher sales and better cost absorption in its Performance and Wake and Leisure businesses.
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Costs increased: Operating expenses rose $8.9 million from a year earlier, reflecting expenses from the added Recreation and Sport Fishing segment, acquisition and integration costs—including those tied to changing the fiscal year-end—and higher selling and marketing costs. The company said integration and synergy work was progressing as planned.
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The company repurchased shares: MasterCraft bought back $4.8 million of stock during the period and had $18.7 million remaining under its repurchase authorization.
What the results show
The reported growth reflects both the acquisition and stronger sales in MasterCraft’s pre-existing businesses; the company’s sales comparison excluding Marine Products rose 37.4%. The quarter also combines that growth with lower gross margin and higher operating expenses, including integration costs.