Sport boat manufacturer MasterCraft (NASDAQ:MCFT) will be announcing earnings results this Thursday before market open. Here’s what to look for.
MasterCraft beat analysts’ revenue expectations last quarter, reporting revenues of $71.76 million, up 13.2% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Is MasterCraft a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting MasterCraft’s revenue to be flat year on year, improving from the 20.6% decrease it recorded in the same quarter last year.
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.
Looking at MasterCraft’s peers in the consumer discretionary - leisure products segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Latham delivered year-on-year revenue growth of 5.3%, missing analysts’ expectations by 1.6%, and Brunswick reported revenues up 12.8%, topping estimates by 4.1%. Brunswick’s stock price was unchanged following the results.
Read our full analysis of Latham’s results here and Brunswick’s results here.
There has been positive sentiment among investors in the consumer discretionary - leisure products segment, with share prices up 6% on average over the last month. MasterCraft is up 17.2% during the same time and is heading into earnings with an average analyst price target of $25.80 (compared to the current share price of $23.79).
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