MasterCraft (MCFT) to report earnings tomorrow: here is what to expect

Sport boat manufacturer MasterCraft (NASDAQ:MCFT) will be announcing earnings results this Tuesday morning. Here’s what to expect.

MasterCraft beat analysts’ revenue expectations last quarter, reporting revenues of $129.9 million, up 63.4% year on year. It was an impressive quarter for the company, with EBITDA guidance for next quarter exceeding analysts’ expectations and revenue guidance for next quarter exceeding analysts’ expectations.

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 grow 113% year on year, improving from the 5.6% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will 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 Q3 results, giving us a hint as to what we can expect. Clarus delivered year-on-year revenue growth of 2.7%, beating analysts’ expectations by 6.6%, and Ruger reported revenues up 16.5%, topping estimates by 12.7%. Clarus traded up 18.5% following the results while Ruger’s stock price was unchanged.

Read our full analysis of Clarus’s results here and Ruger’s results here.

There has been positive sentiment among investors in the consumer discretionary - leisure products segment, with share prices up 4.7% on average over the last month. MasterCraft is up 6.1% during the same time and is heading into earnings with an average analyst price target of $25 (compared to the current share price of $20.38).

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