MasterCraft Boat stocks rises after earnings beat analyst forecast and raises outlook

MasterCraft Boat Holdings Inc.'s stock (MCFT) is up 4.3% after the boat builder's earnings and revenue beat analyst forecasts. MasterCraft said its third-quarter net income rose to $22.51 million or $1.27 a share, from $20.94 million, or $1.13 a share, in the year-ago quarter. Adjusted profit in the latest quarter totaled $1.36 a share, ahead of the analyst estimate of $1.04 a share. Third-quarter sales fell to $166.78 million, from $169.34 million, ahead of the analyst estimate of $158.4 million. CEO Fred Brightbill said the company's results exceeded expectations. Looking ahead, MasterCraft said it expects fiscal 2023 earnings of $5.05 a share, ahead of the analyst prediction of $4.56 a share, with sales of $656 million, which surpasses the estimate of $632.5 million.

-Steve Gelsi

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05-10-23 0818ET

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