Filing Flows › MasterCraft Boat Holdings (MCFT) › Q2 FY25
MasterCraft Boat Holdings (MCFT) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed Feb 6, 2025
MasterCraft Boat Holdings (MCFT) reported revenue of $63.4M for the second quarter fiscal 2025 (Q2 FY25), -29% from a year earlier and -3% from the quarter before. Operating margin was 0.3%, net earnings $2.7M (4.3% of revenue).
MasterCraft Boat Holdings, Q2 FY25: revenue $63.4M (-29% year over year), operating margin 0.3%, net earnings $2.7M, operating cash flow $6.4M. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $63.4M | -3% | -29% |
| Gross profit | $10.9M | -8% | -48% |
| Operating profit | $186K | -81% | -98% |
| Net earnings | $2.7M | — | -53% |
| Operating cash flow | $6.4M | +168% | -77% |
| Free cash flow | $4.0M | 20× | -84% |
What changed
Revenue was $63.4M in Q2 FY25, down 29% year over year and down 3% from the previous quarter. Boats and Trailers was the largest line at 95% of revenue. Boats and Trailers lost $26.7M year over year (down 31%), 101% of the total change.
Gross margin was 17.2%, down 6.1 points from a year earlier. Operating profit was $186K, a 0.3% margin (down 11.7 points year over year). Operating expenses grew 5% against a revenue fall of 29%. The fastest-growing cost line was Sales & marketing (+13%). Net earnings were $2.7M, down 53% year over year. The effective tax rate was 9.1%. Non-operating items added $2.8M, 94% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $6.4M (down 77% year over year), 234% of net earnings. Non-cash charges added back $2.4M of depreciation and amortization and $844K of share-based compensation. Working capital and other items added $462K. Capital expenditures of $2.4M left free cash flow of $4.0M.
Questions
What was MasterCraft Boat Holdings' revenue in the second quarter fiscal 2025?
MasterCraft Boat Holdings (MCFT) reported revenue of $63.4M for the second quarter fiscal 2025 (Q2 FY25), -29% from a year earlier and -3% from the quarter before.
Was MasterCraft Boat Holdings profitable in the second quarter fiscal 2025?
Operating profit was $186K (0.3% of revenue) and net earnings $2.7M.