Recreational boats manufacturer Malibu Boats (NASDAQ: MBUU) will be announcing earnings results this Thursday morning. Here’s what investors should know.
Malibu Boats beat analysts’ revenue expectations last quarter, reporting revenues of $295.5 million, up 42.7% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and full-year revenue guidance beating analysts’ expectations.
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 32.1% year on year, improving from the 13.5% 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 Q3 results, giving us a hint as to what we can expect. Brunswick delivered year-on-year revenue growth of 6.9%, meeting analysts’ expectations, and Harley-Davidson reported a revenue decline of 19.2%, topping estimates by 1.2%. Brunswick traded up 9.4% following the results while Harley-Davidson was also up 5.8%.
Read our full analysis of Brunswick’s results here and Harley-Davidson’s results here.
There has been positive sentiment among investors in the consumer discretionary - leisure products segment, with share prices up 4.7% on average over the last month. Malibu Boats is up 5.8% during the same time and is heading into earnings with an average analyst price target of $34.13 (compared to the current share price of $24.10).
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