MBUU by the numbers

[dizzygti]

1 minute ago, 85 Barefoot said:

I don’t know for sure, but could you be including statements about units that include the other brands like cobalt, pursuit, Maverick, etc?  @IXFE was talking Malibu-specific

The reports reference the Malibu segment, the saltwater fishing segment, and the Cobalt segment.    Looking at it, you're correct, the three segments decreased by 866, 337, and 145 units to combine for a total loss of 1368 across all segments.   I'd have to go back and look at all the older reports to pull Malibu "segment" only numbers, and the formats change over time so the data may not be there.  Maybe one day when I'm bored....

[IXFE]

5 hours ago, dizzygti said:

The reports reference the Malibu segment, the saltwater fishing segment, and the Cobalt segment.    Looking at it, you're correct, the three segments decreased by 866, 337, and 145 units to combine for a total loss of 1368 across all segments.   I'd have to go back and look at all the older reports to pull Malibu "segment" only numbers, and the formats change over time so the data may not be there.  Maybe one day when I'm bored....

Yep, I was talking to the “Malibu Segment” which includes Malibu + Axis… this is the most relevant to folks on this forum. 

[The Hulk]

1 hour ago, IXFE said:

Yep, I was talking to the “Malibu Segment” which includes Malibu + Axis… this is the most relevant to folks on this forum. 

This supports what we are seeing as well with lift sales. wake boat market is getting hit harder than othr market segments.. all are being hit but tow boats are being crushed more..

[IXFE]

48 minutes ago, The Hulk said:

This supports what we are seeing as well with lift sales. wake boat market is getting hit harder than othr market segments.. all are being hit but tow boats are being crushed more..

I think that’s easily explainable…

wake boats have become the upper end of the recreational, inland lake boating industry. For years, a lot of people just wanting to get on the water chose wake boats (aka status boats) because nothing says cool like a modern wake boat + money was cheap, so why not get the cool boat with the loud speakers and the clamping racks??

now that money is no longer cheap (and I don’t just mean boat loans) that same buyer who just wants to be on the water doesn’t care about looking cool so much as making the damn boat (and house and car) payment. So they are buying cheaper toons (if they are buying at all)…

[dizzygti]

9 hours ago, IXFE said:

I think that’s easily explainable…

wake boats have become the upper end of the recreational, inland lake boating industry. For years, a lot of people just wanting to get on the water chose wake boats (aka status boats) because nothing says cool like a modern wake boat + money was cheap, so why not get the cool boat with the loud speakers and the clamping racks??

now that money is no longer cheap (and I don’t just mean boat loans) that same buyer who just wants to be on the water doesn’t care about looking cool so much as making the damn boat (and house and car) payment. So they are buying cheaper toons (if they are buying at all)…

That, and add to it comments echoed here.   The new models roll out, the features aren't leaps and bounds improving over previous models anymore, but the prices keep going up and up and up.   Some form of market saturation has to apply here.   If you're not loaded and trading in a boat every year just to have the newest model, why keep upgrading?    

[85 Barefoot]

6 minutes ago, dizzygti said:

That, and add to it comments echoed here.   The new models roll out, the features aren't leaps and bounds improving over previous models anymore, but the prices keep going up and up and up.   Some form of market saturation has to apply here.   If you're not loaded and trading in a boat every year just to have the newest model, why keep upgrading?    

I”m not saying you’re wrong, but my family’s first boat was a mid-80s Nautique and we’ve had inboards, sometimes multiple, for almost 40 years (damn that makes me feel old).  The  feeling that the market must be saturated has been around for decades.  This is a significant blip, but it due time, we will all once again be scratching our heads as to who is buying these boats 

[dizzygti]

5 minutes ago, 85 Barefoot said:

I”m not saying you’re wrong, but my family’s first boat was a mid-80s Nautique and we’ve had inboards, sometimes multiple, for almost 40 years (damn that makes me feel old).  The  feeling that the market must be saturated has been around for decades.  This is a significant blip, but it due time, we will all once again be scratching our heads as to who is buying these boats 

Not so much "the market" as the players who keep things moving even if when don't have to.   With money not being free, they don't have to.  Wake boats are going to appeal to a much smaller percentage of boaters than pontoons, runabouts, cabin cruisers, etc....hence like The Hulk keeps saying, they are hurting the most.   But it'll come back in time, it always does.  

Edited May 7 by dizzygti

[85 Barefoot]

13 minutes ago, dizzygti said:

Not so much "the market" as the players who keep things moving even if when don't have to.   With money not being free, they don't have to.  Wake boats are going to appeal to a much smaller percentage of boaters than pontoons, runabouts, cabin cruisers, etc....hence like The Hulk keeps saying, they are hurting the most.   But it'll come back in time, it always does.  

My point is, there used to be years with no changes whatsoever. No new models, perhaps a change from rotary switches to backlit toggles, maybe a new gel color, etc. and people were still upgrading and entering the market.  I remember when the original MLS system came out, which was all a wake setter had for ballast, which was a 500# fat sac in the ski locker.  I remember when the sun kicker came out, which was only a Sunsetter LX with a tower and MLS.  My point being, inexplicable new entrants to wakeboats have come out of the woodwork for decades, and eventually that will resume.

[Raimie]

MC numbers are up.

Overview:

Net sales for the third quarter were $95.7 million, down 42.6% from the prior-year period

Net income from continuing operations was $3.8 million, or $0.23 per diluted share

Diluted Adjusted Net Income per share, a non-GAAP measure, was $0.37, down 72.8% from the prior-year period

Adjusted EBITDA, a non-GAAP measure, was $9.7 million, down 70.7% from the prior-year period

Share repurchases of $1.6 million during the quarter

Ended the quarter with cash and investments of $105.7 million, and total debt of $50.4 million

 

https://investors.mastercraft.com/news-releases/news-release-details/mastercraft-boat-holdings-inc-reports-results-fiscal-2024-third

[The Hulk]

It’s starting to hit the pontoon market significantly now as well..

Mercury had a significant layoff of 100 to 150 I believe it was.

Also suppliers have informed that there has been a significant downward revision in their forecast for parts...

 A significant pontoon brand has gone from 26 units per day down to 11. and the forecast keeps getting revised..

It’s not looking pretty out there

[Hemmy]

17 minutes ago, The Hulk said:

It’s starting to hit the pontoon market significantly now as well..

Mercury had a significant layoff of 100 to 150 I believe it was.

Also suppliers have informed that there has been a significant downward revision in their forecast for parts...

 A significant pontoon brand has gone from 26 units per day down to 11. and the forecast keeps getting revised..

It’s not looking pretty out there

The RV industry has a little more of a positive outlook.

https://wsbt.com/news/local/movers-shakers-gather-rv-industry-power-breakfast-recreational-vehicle-hall-fame-elkhart-indiana#

[bcoppess23]

I am traveling back home from a client that is construction equipment manufacturer.  They are shutting down 3/4 of their production lines due to excess supply sitting in a ready to ship state.  Timeline of this shut down, TBD.  "Its an election year" is what they claim.

[The Hulk]

18 hours ago, Hemmy said:

The RV industry has a little more of a positive outlook.

https://wsbt.com/news/local/movers-shakers-gather-rv-industry-power-breakfast-recreational-vehicle-hall-fame-elkhart-indiana#

Not what were hearing, the movers and shakers can't ever give a negative outlook similar to a CEO always painting a positive picture 

 

Lots of manufacturing facilities are cutting way back on hours, shifts, days around here due to lack of demand and orders in numerous sectors.. same story everyone has been pumped full ansnis stocked to thr rim...

 

Boat lift mfgs have started further cutting back on their already lower demand from last year.

getting a bit eerie out there IMO for many sectors of our economy.