Production Issues

[NWBU]

A friend and I had some fun with KBB and CL yesterday afternoon. He already has a cash offer for 15% more than he paid new for his 2014 Ram 3500 Limited, and a few others offering $2-3k less. I bet he gets 20% when it’s done since he’s the least motivated party.

[IXFE]

1 hour ago, NWBU said:

A friend and I had some fun with KBB and CL yesterday afternoon. He already has a cash offer for 15% more than he paid new for his 2014 Ram 3500 Limited, and a few others offering $2-3k less. I bet he gets 20% when it’s done since he’s the least motivated party.

Hmmmm... might be time to sell the Super Duty. 🤔

[NWBU]

2 minutes ago, IXFE said:

Hmmmm... might be time to sell the Super Duty. 🤔

I’m up 18-20% on my 2016 too, so the wheels are spinning. Finding the replacement is the challenge. 

[zhuskers1]

MALIBU BOATS, INC. ANNOUNCES EARNINGS RELEASE DATE AND CONFERENCE CALL INFORMATION FOR THIRD QUARTER FISCAL 2021 FINANCIAL RESULTS

APR 13, 2021

LOUDON, Tenn., April 13, 2021 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU) announced today that it will release its third quarter fiscal 2021 financial results on Tuesday, May 4, 2021 before the market opens. Following the release, the company’s management will host a conference call to discuss the results at 8:30 a.m. Eastern Time on the same day.

The call will be hosted by Malibu’s Chief Executive Officer, Jack Springer, and Chief Financial Officer, Wayne Wilson.

Investors and analysts are invited to listen to the conference call by dialing (855) 433-0928 or (484) 756-4263 and using Conference ID #7199253. Alternatively, interested parties can listen to a live webcast of the conference call by logging on to the Investor Relations section of the Company’s website at http://investors.malibuboats.com/. A replay of the webcast will also be archived on the Company’s website for a period of twelve months following the release.

About Malibu Boats, Inc. 

Based in Loudon, Tennessee, Malibu Boats, Inc. (MBUU) is a leading designer, manufacturer and marketer of a diverse range of recreational powerboats, including performance sport, sterndrive and outboard boats. Malibu Boats, Inc. is the market leader in the performance sport boat category through its Malibu and Axis boat brands, the leader in the 20’ - 40’ segment of the sterndrive boat category through its Cobalt brand, and in a leading position in the saltwater fishing boat market with its Pursuit and Cobia offshore boats and Pathfinder, Maverick, and Hewes flats and bay boat brands. A pre-eminent innovator in the powerboat industry, Malibu Boats, Inc. designs products that appeal to an expanding range of recreational boaters, fisherman and water sports enthusiasts whose passion for boating is a key component of their active lifestyles. For more information, visit www.malibuboats.com, www.axiswake.com, www.cobaltboats.com, www.pursuitboats.com, or maverickboatgroup.com.

Contacts

Malibu Boats, Inc.
Wayne Wilson
[email protected]

[Tjards]

On 4/17/2021 at 9:41 AM, Chrismoe said:

Hi Trizzil,

According to the dealership I work with, Malibu is providing dealerships with specific-to-the-dealer updates, as well as, general updates on a very regular basis. Malibu clearly expects the dealerships to reach out to their customers and update them. My local Bu' dealer has be calling their customers who are waiting on boats a a regular basis even it is to share bad news. Makes sense and that is how this is supposed to work. Malibu is nit Dell -you cannot order directly from Malibu you work with your dealer who in turn works with Malibu. 

Semi-related. Do you all think this years boat order woes will lead to fewer Malibu's being custom ordered next year as boat buyers may consider in stock inventory? I am no expert (at all) but my guess is yes, there will be a drop off in custom ordered boats next year so hoping Malibu is developing a plan for out of territory purchases. 

Chris

 

Chris

Chris

That has not really been the case. There have been a few updates from Malibu but not many. We are one of the larger volume dealers and luckily we have a good rep that does his best to keep us well informed. Its been a struggle to keep everyone updated as at times its been a month or so that we haven't heard anything. Everyone trust in your dealer. We are all doing the best to try and make a bad situation better. Its been a interesting couple of weeks having to make a lot of not fun calls to customers and break the bad news. Hoping it starts getting better in the near future or back on track before next year at the latest.

[94MalibuEchelon]

Bought MBUU at $16 a share five years ago after the IPO. 
MBUU currently at $84 a share.   MBUU high was $93 in Mid-March. 
MBUU up 34% year to date. 

[Eagleboy99]

15 hours ago, 94MalibuEchelon said:

Bought MBUU at $16 a share five years ago after the IPO. 
MBUU currently at $84 a share.   MBUU high was $93 in Mid-March. 
MBUU up 34% year to date. 

Nice.  I wonder if Black Canyon Capital is going to cash out?  Although with a billion dollar market cap, they might stay a bit longer.

[zhuskers1]

I know that Malibu is a dealer centric marketing organization.  With that said, it would be nice if Malibu would set up a password protected website where you could get a "rough status" on your order.  We have heard many times it is week to week.   Dealers can sign in and check status......it would be nice if "signed order customers" could do the same.   Still love Malibu and Patiently waiting.

[Sparky450]

44 minutes ago, zhuskers1 said:

it would be nice if "signed order customers" could do the same.   

I think this would be a NIGHTMARE for dealers. 

Customers would be pushing dealers and trying to run the dealership.

Because we all know. My boat is more important than anyone else’s. 🤨

[zhuskers1]

35 minutes ago, Sparky450 said:

I think this would be a NIGHTMARE for dealers. 

Customers would be pushing dealers and trying to run the dealership.

Because we all know. My boat is more important than anyone else’s. 🤨

You are probably right.  But my sympathy factor is a little low right now.  My dealer conditioned my deal on trading my boat at signing.  Therefore I do not have a boat until the boat I ordered in early November arrives.  

 

[Chrismoe]

8 minutes ago, zhuskers1 said:

You are probably right.  But my sympathy factor is a little low right now.  My dealer conditioned my deal on trading my boat at signing.  Therefore I do not have a boat until the boat I ordered in early November arrives.  

 

Hi Zhuskers1,

To start, I am sorry you and others are having to wait on boats. Next, and likely a silly question, but does your dealer still have your boat, or, any boats in their inventory that can work for you? 

Chris

Edited April 21, 2021 by Chrismoe

[IXFE]

A great post from the Bronco forum last night (not mine). It made me think of this thread. In summary, y’all are not alone!  
 

TITLE: Take a Breath... 

I want to start off by saying I’m not looking to offend anyone. That is not my nature. I’m a Nurse, my husband is a Firefighter full time. Can we all just take a breath and remember that this world is in the middle of a global pandemic among other turmoil. 
The fact that we are all able to get a vehicle is a BLESSING. We work hard, want nice things, want to make memories, travel new roads

There is a lot of complaining about delivery times and expectations. Who gets Broncos ahead of someone else. I’m a day two reservation holder...if it takes Ford a year to deliver- I’m ok with that. 

I have been blessed with an amazing career, my husband also. We have seen so much devastation. Covid taught us all a lot of lessons over the last year. Be thankful for health, home, family, careers/jobs, our children, our pets....and so on. I’m sorry, I don’t mean to preach but there are so many more important things than a material possession. I love this forum and all the knowledge it has brought me. I have made some new “friends” and I look forward to seeing everyone’s Broncos when they deliver. 

Life is short. Cherish every moment and just take a breath, it will be ok and you WILL HAVE A BRONCO in your driveways soon enough!!! 

Again, I don’t mean to preach but please take a moment and realize how lucky we all are to be in a position to get such a great vehicle.

[Slayer]

10 minutes ago, IXFE said:

A great post from the Bronco forum last night (not mine). It made me think of this thread. In summary, y’all are not alone!  
 

TITLE: Take a Breath... 

I want to start off by saying I’m not looking to offend anyone. That is not my nature. I’m a Nurse, my husband is a Firefighter full time. Can we all just take a breath and remember that this world is in the middle of a global pandemic among other turmoil. 
The fact that we are all able to get a vehicle is a BLESSING. We work hard, want nice things, want to make memories, travel new roads

There is a lot of complaining about delivery times and expectations. Who gets Broncos ahead of someone else. I’m a day two reservation holder...if it takes Ford a year to deliver- I’m ok with that. 

I have been blessed with an amazing career, my husband also. We have seen so much devastation. Covid taught us all a lot of lessons over the last year. Be thankful for health, home, family, careers/jobs, our children, our pets....and so on. I’m sorry, I don’t mean to preach but there are so many more important things than a material possession. I love this forum and all the knowledge it has brought me. I have made some new “friends” and I look forward to seeing everyone’s Broncos when they deliver. 

Life is short. Cherish every moment and just take a breath, it will be ok and you WILL HAVE A BRONCO in your driveways soon enough!!! 

Again, I don’t mean to preach but please take a moment and realize how lucky we all are to be in a position to get such a great vehicle.

Thanks, @IXFE.  There seems to be a lack of this thinking these days.  I don't say that to point fingers at anyone in this thread, but there's a lesson here for us all.....

 

 

[NWBU]

@HemmyWhat are you seeing on the RV side for production delays and shortages? Are the resin issues becoming a thing in Elkhart too?

Friends that custom ordered a Jayco 5er in September, for November delivery, just heard that it hit the road this week in transit to their dealer.

[Hemmy]

7 minutes ago, NWBU said:

@HemmyWhat are you seeing on the RV side for production delays and shortages? Are the resin issues becoming a thing in Elkhart too?

Friends that custom ordered a Jayco 5er in September, for November delivery, just heard that it hit the road this week in transit to their dealer.

I really don't know where to start for the issues plaguing the RV industry.  Resin issues have been a thing for awhile.  So far mostly price, but also fiberglass roving was in short supply.  Pretty much all of the manufacturers are limited to what they can get from certain vendors.  Interior wall paneling is limiting RV manufacturers to 75%.  The paneling requires glue to laminate the decorative layer to the lauan.  Anything that is oil based, especially glues and resin, is being impacted.  I was at a customer last week that makes high end 5th wheels and they weren't running any production.  They said they were waiting on vendors to get product in and couldn't run until it came in.  They are pretty much day to day depending on if the needed product comes in.  They have had to call employees the night before to tell them not to come in (they have a lot of Amish employees - imagine trying to get a hold of them with short notice).  Another customer is running 5 days a week, but they are a more stripped down/low end towable.  Their biggest problem is labor.  Some customers are only running 3 or 4 days a week because of being limited.  Everybody is impacted by not being able to get product from vendors at this point.  Every manufacturer I drive into, has a yard full of units with "DO NOT SHIP" stickers on them with a list of what is missing.  Refers and AC units were a big issue and I have also heard foam.  Products are also slow coming in from China.  I will have to check with some of my customers to see if they know what their delays/backlogs are.
I have personally had to put in 3 price increases this year totaling around 15% and will probably be doing another one real soon.  We are being told from the plastic extruders that problems with the resin may go on into the 4th quarter before they improve.  If that is the case, things will be looking even worse for production delays with both RV's and boats.

[Trizzil]

As someone who’s patiently waiting, I feel the common theme here is how can communication from Malibu, the dealer, etc. improve. 
 

Pandemic, Texas ice storms, zombie apocalypse, whatever...

Even if I received the same cut and paste email from someone with a “no news” theme once a month - that would be better than nothing. 
 

For me personally, it’s been the total lack of communication unless instigated by me that’s been surprising. 
 

-Patiently Waiting 

Edited April 21, 2021 by Trizzil

[Livinlogs]

I texted my dealer to see if any of his may dates had moved. He said they hadn’t. Those of us that had June and July starts should probably just hope that the may dates hold for those lucky people . That would be positive news for all of us waiting. I never thought ordering in October would have me possibly missing the summer or possibly being hit with a price increase. Let’s hope May production  stays on track 

[NWBU]

18 minutes ago, Hemmy said:

I really don't know where to start for the issues plaguing the RV industry.  Resin issues have been a thing for awhile.  So far mostly price, but also fiberglass roving was in short supply.  Pretty much all of the manufacturers are limited to what they can get from certain vendors.  Interior wall paneling is limiting RV manufacturers to 75%.  The paneling requires glue to laminate the decorative layer to the lauan.  Anything that is oil based, especially glues and resin, is being impacted.  I was at a customer last week that makes high end 5th wheels and they weren't running any production.  They said they were waiting on vendors to get product in and couldn't run until it came in.  They are pretty much day to day depending on if the needed product comes in.  They have had to call employees the night before to tell them not to come in (they have a lot of Amish employees - imagine trying to get a hold of them with short notice).  Another customer is running 5 days a week, but they are a more stripped down/low end towable.  Their biggest problem is labor.  Some customers are only running 3 or 4 days a week because of being limited.  Everybody is impacted by not being able to get product from vendors at this point.  Every manufacturer I drive into, has a yard full of units with "DO NOT SHIP" stickers on them with a list of what is missing.  Refers and AC units were a big issue and I have also heard foam.  Products are also slow coming in from China.  I will have to check with some of my customers to see if they know what their delays/backlogs are.
I have personally had to put in 3 price increases this year totaling around 15% and will probably be doing another one real soon.  We are being told from the plastic extruders that problems with the resin may go on into the 4th quarter before they improve.  If that is the case, things will be looking even worse for production delays with both RV's and boats.

Thanks. Sounds like anything polymer based is in a bad place as those plants rebuild from losing power during the freeze. That won't be quick.

[Hemmy]

4 minutes ago, NWBU said:

Thanks. Sounds like anything polymer based is in a bad place as those plants rebuild from losing power during the freeze. That won't be quick.

We had faired pretty well on our end for awhile as far as getting plastic sheet from our suppliers, but that has recently started to slow.  We are constantly now checking with our PA as to when certain sheet sizes are arriving as we are getting low or are out.  Slowly it is getting worse and worse for us.

[Sparky450]

2 hours ago, zhuskers1 said:

You are probably right.  But my sympathy factor is a little low right now.  My dealer conditioned my deal on trading my boat at signing.  Therefore I do not have a boat until the boat I ordered in early November arrives.  

 

I thought about selling my boat, and didn’t because I was afraid of this. 

[zhuskers1]

3 hours ago, Chrismoe said:

Hi Zhuskers1,

To start, I am sorry you and others are having to wait on boats. Next, and likely a silly question, but does your dealer still have your boat, or, any boats in their inventory that can work for you? 

Chris

Thanks Chris.  Yes they sold my boat within 10 days......it was a pristine 2004.   I plan on asking my dealer about a loaner next week.   My production date is 5/24 (as of 7 days ago).     Almost afraid to ask if date is solid, every time I do....it another delay.  Patiently waiting.

[zhuskers1]

Update - I ordered my boat on 11/13/20 with an initial expectation of a late April early May delivery.   In Early April I was told my spray date was 5/12/21.  In Mid April my spray date was moved to 5/24.  I heard from my dealer today and the 5/24 date is still holding.  Hopefully this is a sign of improvement..........

[Livinlogs]

I am hoping May build dates hold . I ordered in October and eventually was given a June 1 date . Of course we all know June dates were pulled back off the list . So close  . It snowed today, so there’s that. Hope your boat build date holds . That’s good news 

[Maxiect90]

May 26 spray date 😬🙏

[The Hulk]

Extruder informed us that aluminum may be going up $1-1.5/lb within a month or so.. crazy.. 

Fiberglass product situation going down hill. 

Microchip situation also getting worse.

Several places are starting to limit shifts and reduce hrs from missing parts.

Others that have parts can't get enough labor to show up and are mandating office closes at 3 and everyone on floor for few hours.

Inflation seems to be 15-20% range on cost and price increases for most goods.  

Crazy world