Sport boat manufacturer MasterCraft (NASDAQ:MCFT) will be reporting results tomorrow before market hours. Here’s what to expect.
MasterCraft beat analysts’ revenue expectations by 6.6% last quarter, reporting revenues of $65.36 million, down 30.7% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Is MasterCraft a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting MasterCraft’s revenue to decline 39% year on year to $60.71 million, a further deceleration from the 37.5% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.01 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MasterCraft has missed Wall Street’s revenue estimates four times over the last two years.
Looking at MasterCraft’s peers in the leisure products segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Malibu Boats’s revenues decreased 5.1% year on year, beating analysts’ expectations by 4.8%, and Brunswick reported a revenue decline of 15.2%, topping estimates by 11.3%. Malibu Boats’s stock price was unchanged after the results, while Brunswick was down 1.1%.
Read our full analysis of Malibu Boats’s results here and Brunswick’s results here.
There has been positive sentiment among investors in the leisure products segment, with share prices up 2.5% on average over the last month. MasterCraft is down 1.9% during the same time and is heading into earnings with an average analyst price target of $22.20 (compared to the current share price of $17.70).
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