MasterCraft Boat (MCFT) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 FY2026 reached $71.8 million, a 13.2% year-over-year increase, driven by favorable model mix, higher unit volumes, and price increases.

• Adjusted EBITDA for Q2 was $7.5 million, up $3.9 million year-over-year, with margin improving by 480 basis points.

• Adjusted net income for Q2 was $4.7 million ($0.29 per diluted share), up from $1.7 million ($0.10 per share) last year.

• Dealer inventories were reduced by 25% year-over-year, with positive early boat show engagement and strong balance sheet with $81.4 million in cash and no debt.

• Announced a definitive agreement to combine with Marine Products Corporation, expanding the marine platform with complementary brands and dealer networks, expected to close in the first half of 2026.

Financial highlights

• Q2 FY2026 net sales: $71.8 million (+13.2% YoY); YTD net sales: $140.8 million (+9.3% YoY).

• Q2 adjusted EBITDA: $7.5 million (10.4% margin); YTD adjusted EBITDA: $14.4 million (10.2% margin).

• Q2 adjusted net income: $4.7 million ($0.29 per diluted share); YTD adjusted net income: $8.6 million ($0.58 per share).

• Ended Q2 with $81.4 million in cash and investments, no debt; free cash flow for the first half: $3.9 million.

• Gross margin improved by 440 basis points to 21.6%.

Outlook and guidance

• Raised full-year FY2026 guidance: net sales expected between $300–$310 million, adjusted EBITDA $36–$39 million, adjusted EPS $1.45–$1.60.

• Q3 FY2026 guidance: net sales ~$75 million, adjusted EBITDA ~$9 million, adjusted EPS ~$0.35.

• Capital expenditures expected to be ~$9 million for the year.

• Retail demand assumed down 5–10% for the year, but trends tracking toward the better end for the MasterCraft segment.

• Outlook excludes any impact from the Marine Products Corporation combination.