What To Expect From MasterCraft's (MCFT) Q1 Earnings

Petr Huřťák /
2024/05/07 3:06 am EDT

Sport boat manufacturer MasterCraft (NASDAQ:MCFT) will be announcing earnings results tomorrow before market open. Here's what to expect.

MasterCraft beat analysts' revenue expectations by 4.1% last quarter, reporting revenues of $99.48 million, down 37.5% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts' earnings estimates.

Is MasterCraft a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting MasterCraft's revenue to decline 44.3% year on year to $92.83 million, a further deceleration from the 1.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.23 per share.

MasterCraft Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MasterCraft has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 3.9% on average.

Looking at MasterCraft's peers in the leisure products segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Johnson Outdoors's revenues decreased 13% year on year, beating analysts' expectations by 10.8%, and Brunswick reported a revenue decline of 21.7%, in line with consensus estimates. Johnson Outdoors traded down 11.7% following the results while Brunswick was also down 5.8%.

Read our full analysis of Johnson Outdoors's results here and Brunswick's results here.

Investors in the leisure products segment have had fairly steady hands going into earnings, with share prices down 1.9% on average over the last month. MasterCraft is down 9.7% during the same time and is heading into earnings with an average analyst price target of $23.5 (compared to the current share price of $20.3).

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