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Trade Only Today Reports:
Malibu Reports Record Sales, Profit
Net sales in the quarter ended March 31 rose to $344.3 million, from $273.2 million in the same quarter in fiscal 2021, Malibu said in its earnings statement this morning. Net income in the recent quarter was $54.9 million, up from $35.1 million in the year-earlier period.
Average selling prices “remain elevated, led by strong consumer demand for larger, feature-rich boats,” CEO Jack Springer said in the statement. “This, in combination with our operational excellence, has resulted in margin expansion for our business over the quarter, positioning us well to offset inflationary pressures as we move to the final months of the fiscal year.”
Gross profit margin widened to 28.2 percent from 26.4 percent, the Loudon, Tenn.-based builder stated.
Springer said Malibu was able “to ship more units than anticipated, in spite of the persistent supply-chain challenges across the industry.”
In its outlook, the company said revenue for the full fiscal year 2022 will be 28 to 29 percent higher than 2021. Adjusted earnings before interest, taxes, depreciation and amortization margins will be “approaching 20.5 percent.”
Malibu Reports Record Sales, Profit
- Dom Yanchunas
- 1 hour ago
Net sales in the quarter ended March 31 rose to $344.3 million, from $273.2 million in the same quarter in fiscal 2021, Malibu said in its earnings statement this morning. Net income in the recent quarter was $54.9 million, up from $35.1 million in the year-earlier period.
Average selling prices “remain elevated, led by strong consumer demand for larger, feature-rich boats,” CEO Jack Springer said in the statement. “This, in combination with our operational excellence, has resulted in margin expansion for our business over the quarter, positioning us well to offset inflationary pressures as we move to the final months of the fiscal year.”
Gross profit margin widened to 28.2 percent from 26.4 percent, the Loudon, Tenn.-based builder stated.
Springer said Malibu was able “to ship more units than anticipated, in spite of the persistent supply-chain challenges across the industry.”
In its outlook, the company said revenue for the full fiscal year 2022 will be 28 to 29 percent higher than 2021. Adjusted earnings before interest, taxes, depreciation and amortization margins will be “approaching 20.5 percent.”
Trade Only Today Reports: U.K. Ends Tariffs on Boats
The U.S. Department of Commerce last night announced that it reached an agreement with the United Kingdom that not only eases tariffs on U.S.-made steel and aluminum, but also ends the retaliatory tariffs on American-made boats.
The National Marine Manufacturers Association said in a statement that the 25 percent tariffs levied in 2018 on more than $500 million worth of U.S. goods resulted in a 60 percent decrease in shipments of boats and engines.
The European Union’s retaliatory tariffs on American-made boats ended Jan. 1.
Details about the timeline and implementation of the U.K.-U.S. trade agreement are developing.
The U.S. Department of Commerce last night announced that it reached an agreement with the United Kingdom that not only eases tariffs on U.S.-made steel and aluminum, but also ends the retaliatory tariffs on American-made boats.
The National Marine Manufacturers Association said in a statement that the 25 percent tariffs levied in 2018 on more than $500 million worth of U.S. goods resulted in a 60 percent decrease in shipments of boats and engines.
The European Union’s retaliatory tariffs on American-made boats ended Jan. 1.
Details about the timeline and implementation of the U.K.-U.S. trade agreement are developing.
NMMA Reports U.S. Boat Sales Reached 13-Year High In 2020
The NMMA reported today that retail unit sales of new powerboats in the U.S. increased last year by an estimated 12 percent compared to 2019. More than 310,000 new powerboats were sold in 2020, levels the recreational boating industry has not seen since before the Great Recession in 2008. Read more
The NMMA reported today that retail unit sales of new powerboats in the U.S. increased last year by an estimated 12 percent compared to 2019. More than 310,000 new powerboats were sold in 2020, levels the recreational boating industry has not seen since before the Great Recession in 2008. Read more
Did you know this?
Pavati Boats:
From Pavati's website "About Us", "Pavati was officially established in 2008 when we set out to build the first aluminum v-drive wake boat. Throughout the years many people have asked us, “Why did it take so long for someone to make a wake surfing boat out of aluminum?” It’s a fair question, and the answer is simple: Until now, it hasn’t been possible. With recent innovations in technology and our investment in state-of-the-art software and machinery, building a boat was well within our reach. Our 40 years of experience building the most durable and complex aluminum work truck solutions such as service bodies and flatbeds didn’t hurt, either". For more info, we encourage a visit to their website.
Pavati Boats:
From Pavati's website "About Us", "Pavati was officially established in 2008 when we set out to build the first aluminum v-drive wake boat. Throughout the years many people have asked us, “Why did it take so long for someone to make a wake surfing boat out of aluminum?” It’s a fair question, and the answer is simple: Until now, it hasn’t been possible. With recent innovations in technology and our investment in state-of-the-art software and machinery, building a boat was well within our reach. Our 40 years of experience building the most durable and complex aluminum work truck solutions such as service bodies and flatbeds didn’t hurt, either". For more info, we encourage a visit to their website.
For the benefits of membership in NMMA: Go to https://www.nmma.org/membership/join/benefits
News from USA Water Ski & Wake Sports
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or go directly to their facebook page at https://www.facebook.com/USAWaterski/
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Support Your Sport! Follow this link - https://www.teamusadonations.com/donate.html
Please consider supporting USA Water Ski & Wake Sports
Click on Logo to go directly to their website,
or go directly to their facebook page at https://www.facebook.com/USAWaterski/
Team USA Donations
Support Your Sport! Follow this link - https://www.teamusadonations.com/donate.html
Celebrating Water Skiing's Centennial - 1922-2022
The year 2022 commemorates the 100th anniversary for the sport of water skiing. To celebrate, USA Water Ski & Wake Sports has created a 100th anniversary logo and plans to promote the centennial through a year-long celebration via local, national and world events in 2022.
Water skiing was invented in the United States in 1922 when Minnesotan Ralph Samuelson built the first pair of skis and was towed on them behind an outboard-powered boat. What Samuelson originated became an exhibition sport on both sides of the Atlantic in the 1920s and early 1930s and continues strong 100 years later.
Join USA Water Ski & Wake Sports as it celebrates water skiing's centennial throughout 2022. Planned special events in partnership with Visit Central Florida include the USA Water Ski & Wake Sports Awards Gala on Jan. 29 in Lakeland, Fla.; USA Water Ski & Wake Sports Foundation’s Water Ski Hall of Fame Induction Ceremony on March 5 in Lakeland, Fla.; and the 5th IWWF World Water Ski Show Tournament, presented by Visit Central Florida, on Lake Silver in Winter Haven, Fla., Oct. 22-23, 2022. More details will be released soon.
The year 2022 commemorates the 100th anniversary for the sport of water skiing. To celebrate, USA Water Ski & Wake Sports has created a 100th anniversary logo and plans to promote the centennial through a year-long celebration via local, national and world events in 2022.
Water skiing was invented in the United States in 1922 when Minnesotan Ralph Samuelson built the first pair of skis and was towed on them behind an outboard-powered boat. What Samuelson originated became an exhibition sport on both sides of the Atlantic in the 1920s and early 1930s and continues strong 100 years later.
Join USA Water Ski & Wake Sports as it celebrates water skiing's centennial throughout 2022. Planned special events in partnership with Visit Central Florida include the USA Water Ski & Wake Sports Awards Gala on Jan. 29 in Lakeland, Fla.; USA Water Ski & Wake Sports Foundation’s Water Ski Hall of Fame Induction Ceremony on March 5 in Lakeland, Fla.; and the 5th IWWF World Water Ski Show Tournament, presented by Visit Central Florida, on Lake Silver in Winter Haven, Fla., Oct. 22-23, 2022. More details will be released soon.
A Guide For Newcomers: So, you want to ski? You enjoy being out on the water. The speed! The sun! The exhilaration! The fresh air! USA Water Ski & Wake Sports has it all and will make your dreams come true. We want you and your family to enjoy all that is possible on the water. We can help bring you the thrills and spills of water skiing and wakeboarding. What are you waiting for? If you have the itch, USA Water Ski & Wake Sports is the place for you. To continue reading, go to https://www.teamusa.org/USA-Water-Ski/Information-For-Newcomers