Recreational boats manufacturer Malibu Boats (NASDAQ: MBUU) will be reporting results this Thursday before market hours. Here’s what investors should know.
Malibu Boats beat analysts’ revenue expectations last quarter, reporting revenues of $235.7 million, up 3.1% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS and EBITDA estimates.
Is Malibu Boats a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Malibu Boats’s revenue to grow 27.5% year on year, slowing from the 30.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Malibu Boats has a history of exceeding Wall Street’s expectations.
Looking at Malibu Boats’s peers in the consumer discretionary - leisure products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Ruger delivered year-on-year revenue growth of 19.3%, beating analysts’ expectations by 23%, and Clarus reported revenues up 1.6%, topping estimates by 5.2%. Ruger traded up 3.3% following the results while Clarus was also up 10.1%.
Read our full analysis of Ruger’s results here and Clarus’s results here.
Investors in the consumer discretionary - leisure products segment have had steady hands going into earnings, with share prices flat over the last month. Malibu Boats’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $35.33 (compared to the current share price of $28.48).
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