Malibu Boats Posts Q4 Earnings Above Street View

Malibu Boats Inc (NASDAQ:MBUU) reported fourth-quarter FY23 sales growth of 5.4% year-on-year to $372.30 million, beating the analyst consensus of $327.25 million.

The revenue increase was driven primarily by increased unit volumes in the Saltwater Fishing segment and a favorable model mix across all segments, partially offset by lower unit volumes in the Malibu and Cobalt segments and by increased dealer flooring program costs in the Malibu segment resulting from higher interest rates and increased inventory levels. Unit volume decreased 1.8% to 2,550 units.