MasterCraft Boat Holdings, Inc. Reports Fiscal 2026 Results
MasterCraft Boat Holdings, Inc. (MCFT) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 FOR IMMEDIATE RELEASE MasterCraft Boat Holdings, Inc. Reports Fiscal 2026 Results VONORE, Tenn. – September 10, 2026 – MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) today announced financial results for its fiscal 2026 fourth quarter and year ended June 30, 2026. Th
How this was made
The 30-second read
Why it matters
The earnings release provides the first public disclosure of post‑merger financial performance, offering traders fresh data to reassess valuation.
Market read
First‑report earnings data for MCFT with significant revenue growth but continued losses; actionable for short‑term traders.
What to watch
Future integration risks of Marine Products and potential slowdown in discretionary spending could affect outlook.
Fiscal 2026 net sales rose to $348.9 million and Adjusted EBITDA increased to $45.6 million, while acquisition-related costs and a Leisure impairment produced a GAAP loss from continuing operations.
Sales growth, Adjusted Net Income and Adjusted EBITDA improved materially, but GAAP continuing operations recorded losses in both the fourth quarter and fiscal year after Marine Products Transaction costs, inventory step-up charges and a $10.1 million Leisure impairment.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net sales, fourth quarterGAAP | $129.9M | – | up $50.4 million, or 63.4% |
| Net sales, fiscal 2026GAAP | $348.9M | – | up $64.7 million, or 22.8% |
| Net sales excluding contribution from the Marine Products Transaction, fourth quarterother | increased $17.1 million, or 21.5% | – | increased $17.1 million, or 21.5% |
| Net sales excluding contribution from the Marine Products Transaction, fiscal 2026other | increased $31.4 million, or 11.0% | – | increased $31.4 million, or 11.0% |
| Gross profit, fourth quarterGAAP | $29.31M | – | – |
| Gross profit, fiscal 2026GAAP | $79.78M | – | – |
| Gross margin, fourth quarterGAAP | 22.6% | – | (60) bps |
| Gross margin, fiscal 2026GAAP | 22.9% | – | 290 bps |
| Total operating expenses, fourth quarterGAAP | $35.63M | – | increased $23.1 million |
| Total operating expenses, fiscal 2026GAAP | $80.89M | – | increased $35.3 million |
| Operating income (loss), fourth quarterGAAP | −$6.31M | – | – |
| Operating income (loss), fiscal 2026GAAP | −$1.11M | – | – |
| Income (loss) from continuing operations, fourth quarterGAAP | −$7M | – | – |
| Income (loss) from continuing operations, fiscal 2026GAAP | −$1.6M | – | – |
| Diluted income (loss) from continuing operations per share, fourth quarterGAAP | $(0.35) per diluted share | – | – |
| Diluted income (loss) from continuing operations per share, fiscal 2026GAAP | $(0.09) per diluted share | – | – |
| Net income (loss), fourth quarterGAAP | −$7.08M | – | – |
| Net income (loss), fiscal 2026GAAP | −$1.66M | – | – |
| Diluted net income (loss) per share, fourth quarterGAAP | $(0.35) | – | – |
| Diluted net income (loss) per share, fiscal 2026GAAP | $(0.10) | – | – |
| Adjusted Net Income, fourth quarternon-GAAP | $13.5M | – | up from $6.6 million |
| Adjusted Net Income, fiscal 2026non-GAAP | $30.2M | – | up from $15.1 million |
| Adjusted Net Income per diluted share, fourth quarternon-GAAP | $0.67 per diluted share | – | – |
| Adjusted Net Income per diluted share, fiscal 2026non-GAAP | $1.76 per diluted share | – | – |
| Adjusted EBITDA, fourth quarternon-GAAP | $20.5M | – | up $11.0 million |
| Adjusted EBITDA, fiscal 2026non-GAAP | $45.6M | – | up $21.2 million |
| Adjusted EBITDA margin, fourth quarternon-GAAP | 15.8% | – | – |
| Adjusted EBITDA margin, fiscal 2026non-GAAP | 13.1% | – | – |
| Net cash provided by operating activities of continuing operations, fiscal 2026GAAP | $30.40M | – | – |
| Free cash flow, fiscal 2026non-GAAP | $22.28M | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Performance and Wake, fourth quarterUnit sales volume was 444, compared to 352, and net sales per unit were $190, compared to $187. | $84.53M | – | 28.3% |
| Leisure, fourth quarterUnit sales volume was 192, compared to 218, and net sales per unit were 63, compared to 62. | $12.08M | – | (11.2)% |
| Recreation and Sport Fishing, fourth quarterThe Marine Products Transaction generated incremental net sales of $33.3 million in the fiscal 2026 fourth quarter; unit sales volume was 310 and net sales per unit were 108. | $33.33M | – | —% |
| Performance and Wake, fiscal 2026Unit sales volume was 1,639, compared to 1,548, and net sales per unit were $165, compared to $156. | $271.2M | – | 12.6% |
| Leisure, fiscal 2026Unit sales volume was 716, compared to 745, and net sales per unit were 62, compared to 58. | $44.4M | – | 2.2% |
| Recreation and Sport Fishing, fiscal 2026The segment was established following the combination with Marine Products. | $33.33M | – | —% |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
six-month Transition Period from July 1, 2026 through December 31, 2026; first quarter of the Transition Period outlook
- RevenueFor the six-month Transition Period, consolidated net sales are expected to be between $287 million and $291 million. For the first quarter of the Transition Period, consolidated net sales are expected to be approximately $147 million.
- NoteFor the six-month Transition Period, Adjusted EBITDA is expected to be between $29 million and $32 million.
- NoteFor the six-month Transition Period, Adjusted Earnings per share are expected to be between $0.66 and $0.76.
- NoteCapital expenditures are expected to be approximately $9 million for the Transition period.
- NoteFor the first quarter of the Transition Period, Adjusted EBITDA is expected to be approximately $16 million.
- NoteFor the first quarter of the Transition Period, Adjusted Earnings per share are expected to be approximately $0.40.
What drove it
- Fourth-quarter sales growth reflected $33.3 million of incremental Recreation and Sport Fishing segment net sales from the Marine Products Transaction, increased unit volumes, increased prices and decreased dealer incentives, partly offset by unfavorable model mix.
- Fiscal 2026 sales growth reflected incremental Recreation and Sport Fishing segment sales from the Marine Products Transaction, increased unit volumes, increased prices, favorable model mix and option sales, and decreased dealer incentives.
- Fiscal 2026 gross margin increased 290 basis points, primarily from increased net sales and effective cost controls within Performance and Wake and Leisure, partly offset by a $2.6 million inventory step-up charge.
- Performance and Wake fourth-quarter net sales increased 28.3%, supported by unit sales volume of 444 versus 352 and net sales per unit of $190 versus $187.
Concerns
- The fourth-quarter gross margin decreased 60 basis points to 22.6%, primarily due to a $2.6 million inventory step-up charge related to the Marine Products Transaction.
- The Company recorded a $10.1 million non-cash impairment charge related to intangible assets in the Leisure segment during the fourth quarter.
- Fourth-quarter operating expenses increased $23.1 million, including $5.9 million of Marine Products Transaction costs, $2.9 million of order-backlog and dealer network amortization, incremental Recreation and Sport Fishing expenses, and impairment charges.
- GAAP loss from continuing operations was $7.0 million in the fourth quarter and $1.6 million for fiscal 2026.
- Leisure fourth-quarter net sales declined 11.2% to $12,080 and unit sales volume declined 11.9% to 192.
What to watch
- Execution against Transition Period consolidated net sales guidance of $287 million to $291 million and Adjusted EBITDA guidance of $29 million to $32 million.
- First-quarter Transition Period delivery against approximately $147 million of consolidated net sales, approximately $16 million of Adjusted EBITDA, and approximately $0.40 of Adjusted Earnings per share.
- Integration of Marine Products and realization of expected benefits from the Marine Products Transaction.
- Leisure segment demand and the impact of the impairment on the segment's intangible assets.
- Capital expenditures expected to be approximately $9 million for the Transition period.
Balance sheet and cash flow
- Cash and cash equivalents were $43,865 at June 30, 2026, compared to $28,926 at June 30, 2025.
- Short-term investments were — at June 30, 2026, compared to $50,518 at June 30, 2025.
- Inventories, net were $82,261 at June 30, 2026, compared to $30,469 at June 30, 2025.
- Total assets were $500,432 at June 30, 2026, compared to $259,948 at June 30, 2025.
- Total liabilities were $119,144 at June 30, 2026, compared to $76,362 at June 30, 2025.
- Purchases of property, plant and equipment were $(8,124) for fiscal 2026, compared to $(9,198) for fiscal 2025.
- Free cash flow was $22,280 for fiscal 2026, compared to $29,024 for fiscal 2025.
Analysis
MasterCraft reported substantial fiscal 2026 sales growth, with fourth-quarter net sales of $129.9 million, up $50.4 million, or 63.4%, and full-year net sales of $348.9 million, up $64.7 million, or 22.8%. The Marine Products Transaction was a major contributor, adding $33.3 million of Recreation and Sport Fishing sales in the fourth quarter. Excluding that contribution, fourth-quarter net sales increased $17.1 million, or 21.5%, and fiscal-year net sales increased $31.4 million, or 11.0%.
Performance and Wake supplied the strongest legacy-business growth. Fourth-quarter segment sales rose 28.3% to $84,530, alongside unit sales volume of 444 versus 352 and net sales per unit of $190 versus $187. Leisure was weaker in the fourth quarter, with sales down 11.2% to $12,080 and unit volume down 11.9% to 192. For fiscal 2026, Leisure sales increased 2.2% to $44,400 despite unit volume falling 3.9% to 716, while net sales per unit increased to 62 from 58.
Underlying non-GAAP profitability improved materially. Fourth-quarter Adjusted EBITDA reached $20.5 million and the Adjusted EBITDA margin was 15.8%, compared with $9.5 million and 12.0% in the prior-year quarter. Full-year Adjusted EBITDA was $45.6 million, compared with $24.4 million, with margin expanding to 13.1% from 8.6%. Full-year GAAP gross margin also increased 290 basis points to 22.9%, driven by increased net sales and effective cost controls, partly offset by the $2.6 million inventory step-up charge.
Reported GAAP earnings were substantially affected by transaction and impairment costs. The fourth quarter included a $10.1 million non-cash Leisure impairment charge and $11.0 million in acquisition-related expenses, resulting in a $7.0 million loss from continuing operations. Fiscal 2026 loss from continuing operations was $1.6 million, even as Adjusted Net Income rose to $30.2 million from $15.1 million. Operating expenses increased $35.3 million for the year due to Marine Products Transaction costs, transaction-related amortization, incremental Recreation and Sport Fishing expenses, impairment charges, ERP implementation costs and higher variable compensation.
Cash and cash equivalents were $43,865 at June 30, 2026. Net cash provided by operating activities of continuing operations was $30,404 and free cash flow was $22,280 for fiscal 2026, versus $38,222 and $29,024, respectively, in fiscal 2025. The company changed its fiscal year-end from June 30 to December 31 effective July 1, 2026 and guides to $287 million to $291 million of net sales and $29 million to $32 million of Adjusted EBITDA for the six-month Transition Period. First-quarter Transition Period guidance calls for approximately $147 million of net sales and approximately $16 million of Adjusted EBITDA.
Management, verbatim
Fiscal 2026 was a defining year for MasterCraft Boat Holdings. Strong execution across our legacy business drove results to significantly outperform expectations despite a challenging retail environment. We grew net sales, expanded Adjusted EBITDA nearly 80%, and completed the transformational combination with Chaparral and Robalo.
Brad Nelson, Chief Executive Officer
The MasterCraft brand was at the center of that success. Strong retail performance and the successful rollout of the next-generation X-Series product family drove favorable premium mix, strengthened brand momentum, and improved profitability.
Brad Nelson, Chief Executive Officer
What gives me confidence is that these results were earned, not market-driven. Our teams executed with discipline, remained focused on the fundamentals, and consistently delivered against our priorities. There is real energy and excitement across the organization as we enter our next chapter as a larger, more diversified company.
Brad Nelson, Chief Executive Officer
Not in the filing
stated, not guessed- Debt balance at June 30, 2026
- Share repurchases
- Dividend declaration or payments
- Quarterly operating cash flow
- Quarterly free cash flow
- Prior-quarter comparisons for reported metrics
- Prior outlook or prior-guidance comparison
- Forward gross margin guidance
- Forward operating expense guidance
- Forward tax-rate guidance
- GAAP reconciliation for forward guidance
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
MasterCraft Boat Holdings (NASDAQ: MCFT) completed its merger with Marine Products in May 2026, expanding its product lineup.
Ticker impact
MasterCraft Boat Holdings reported FY2026 results, including a $33.3M sales boost from the Marine Products merger and a $10.1M non‑cash impairment, shifting its quarterly loss to a $7.0M loss.
Potential short‑term volatility as investors digest loss versus strong revenue growth; upside if market focuses on revenue beat.
The numbers are fresh from the SEC 8‑K filing, providing concrete data that can move the stock immediately.
Market effects
Highlights consolidation in the recreational boating sector, potentially prompting further M&A activity.
U.S. consumer discretionary segment may see modest lift from strong boat sales.
Limited to North American boating market; no broader macro impact.
Counterpoint
Despite revenue growth, recurring impairments and acquisition costs could pressure margins, suggesting a cautious stance.
Key entities
- CompanyMasterCraft Boat Holdings, Inc.
Boating manufacturer reporting FY2026 results.
- CompanyMarine Products Corporation
Acquired entity contributing $33.3M incremental sales.
