Malibu Boats Earnings: What To Look For From MBUU

Recreational boats manufacturer Malibu Boats (NASDAQ:MBUU) will be reporting results tomorrow before market open. Here’s what to look for.

Malibu Boats missed analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $203.4 million, down 45.8% year on year. It was a weaker quarter for the company, with a miss of analysts’ revenue estimates. It reported 1,269 total units, down 51.9% year on year.

Is Malibu Boats a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Malibu Boats’s revenue to decline 57.9% year on year to $156.9 million, a reversal from the 5.4% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.32 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Malibu Boats has missed Wall Street’s revenue estimates twice over the last two years.

Looking at Malibu Boats’s peers in the leisure products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Harley-Davidson delivered year-on-year revenue growth of 12%, beating analysts’ expectations by 27.2%, and Latham reported a revenue decline of 9.6%, topping estimates by 2.2%. Harley-Davidson traded up 8.7% following the results while Latham was also up 42%.

Read our full analysis of Harley-Davidson’s results here and Latham’s results here.

Growth stocks have been quite volatile since the start of 2024, and while some of the leisure products stocks have fared somewhat better, they have not been spared, with share prices down 2.2% on average over the last month. Malibu Boats is down 8.4% during the same time and is heading into earnings with an average analyst price target of $41.6 (compared to the current share price of $35.26).

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