Malibu shares rose 8.1% after fiscal fourth-quarter revenue and adjusted EBITDA grew sharply, with adjusted EBITDA margins expanding. The full-year revenue result also came in about $29 million above the top of the range management raised in May, though the quarter’s sales growth included Saxdor’s contribution.
- Fourth-quarter net sales increased 42.7% to $295.5 million; adjusted EBITDA rose 72.7% to $33.9 million.
- Adjusted EBITDA margin expanded 200 basis points year over year; consolidated gross margin expanded 190 basis points.
- Fiscal-year net sales were $914.6 million, roughly $29 million above the top of the range raised in May. Adjusted EBITDA was $73.9 million, in the upper half of the guided range.
- Management said legacy business strength preceded Saxdor’s full-quarter contribution; unit volume grew in Cobalt and Saltwater Fishing.
- Saxdor integration is underway, and the first domestically built boat remains on schedule for completion in Fort Pierce later this fall.
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