MasterCraft Shares Plunge 12% on Disappointing Guidance
MasterCraft (NASDAQ:MCFT) posted Q4 earnings per share (EPS) of $1.37, surpassing the analyst prediction of $1.07 by $0.30. The quarter's revenue totaled $166.6 million, exceeding the Street estimate of $162.08 million.
Despite its strong Q4 results, MasterCraft Boat provided a notably pessimistic full-year projection, reflecting concerns that industry retail unit sales could decrease by as much as the mid-teens percentage for 2024. In reaction to this, shares plummeted more than 12% on Wednesday.
The company's outlook for the full year anticipates net sales ranging from $390 million to $420 million, significantly below the Street estimate of $657.6 million. Additionally, MasterCraft Boat projects an adjusted EPS between $1.46 and $1.88, which contrasts sharply with analysts' expectations of $5.06 per share.
For the first quarter of 2024, the company anticipates net sales of $98 million, considerably less than the estimated $133.6 million. The projected adjusted EPS for the first quarter is 41 cents, compared to the anticipated 95 cents.
| Symbol | Price | %chg |
|---|---|---|
| VKTR.JK | 132 | 0 |
| 000040.KS | 682 | 1.32 |
| 603129.SS | 146.7 | 0 |
| 603766.SS | 6.55 | 0 |
