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Malibu Boats meets expectations for eighth successive quarter

Orders for its new premium boat models have all been higher, the company said

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The new Malibu M235

Sport boat designer Malibu Boats (NASDAQ:MBUU) met expectations for the eighth consecutive quarter as it saw sales and earnings rise in the second quarter of 2016.

In the three months to December 31, earnings per share were US$0.30, exactly the same as consensus estimates, on sales of US$60.5mln, up 9% on the corresponding period the year before.

Orders for its new premium boat models -- the Axis A20, the Malibu Wakesetter 20 VTX, the Malibu Wakesetter 25 LSV and the new Malibu M235 were all up in the first half of the fiscal year.

Jack Springer, chief executive, said: “Malibu completed another successful quarter, meeting or exceeding our internal financial and operating targets for the eighth straight quarter since our IPO.”

“Despite the volatility in the macro environment, we have been steadfast with the execution of our strategy and achievement of our growth targets.”

The company also offers an integrated wake and surfing system, which it said has driven demand through consistent new product and feature launches.

Springer added that “the global macro trends across the industry remain mixed,” with the firm watching the oil price, but noted that he still expects the sports boat segment to outperform other marine segments.

Quick facts: Malibu Boats

Price: 50.5 USD

NASDAQ:MBUU
Market: NASDAQ
Market Cap: $1.04 billion
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