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Malibu Boats rallies on stronger-than-expected profit, sales

malibu-boats-rallies-on-stronger-than-expected-profit,-sales

Malibu Boats Inc. MBUU, +0.55% shares are rallying 7% in premarket trades Thursday after the company beat Wall Street’s profit and sales targets. The Loudon, Tenn., company said its fourth-quarter profit rose to $46.1 million, or $2.31 a share, from $33.44 million, or $1.60 a share, in the year-ago quarter. Adjusted income was $2.43 a share. Revenue increased to $353.21 million from $276.72 million in the year-ago period. Analysts expected Malibu Boats to earn $2.29 a share on revenue of $331 million, according to estimates compiled by FactSet. Malibu Boats projected fiscal year 2023 net sales growth in the mid to high single digits year-over-year.

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