Sport boat manufacturer MasterCraft (NASDAQ:MCFT) will be announcing earnings results tomorrow before market hours. Here’s what to expect.
MasterCraft beat analysts’ revenue expectations by 4.4% last quarter, reporting revenues of $63.37 million, down 29.4% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EPS estimates but EBITDA guidance for next quarter missing analysts’ expectations significantly. It reported 553 boats sold, down 35.4% year on year.
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 21.7% year on year to $74.92 million, improving from the 42.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.18 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 Q1 results, giving us a hint as to what we can expect. Harley-Davidson’s revenues decreased 23.1% year on year, missing analysts’ expectations by 1.2%, and Brunswick reported a revenue decline of 10.5%, topping estimates by 7.9%. Harley-Davidson traded up 5% following the results while Brunswick was also up 3.6%.
Read our full analysis of Harley-Davidson’s results here and Brunswick’s results here .
There has been positive sentiment among investors in the leisure products segment, with share prices up 9.2% on average over the last month. MasterCraft is up 5.1% during the same time and is heading into earnings with an average analyst price target of $19.75 (compared to the current share price of $16.15).
Today’s young investors likely haven’t read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next .