Shares in the Loudon, Tennessee-based company gained 3.11% to $42.72.
For the quarter ended December 2018, the boat maker posted earnings of $0.83 per share on revenue of $165.8 million. The consensus earnings estimate was $0.73 per share on revenue of $150.2 million. Revenue grew 45.0% on a year-over-year basis.
“Dealers' orders remain robust, which has created a strong order book across all of our brands and channel inventories are at near optimal levels,” said Malibu Boats CEO Jack Springer in a statement.
Springer said that in the first half of fiscal 2019, the company introduced a number of new boats and features, all of which have been “incredibly well-received by customers and dealers alike.”
“In addition, our operational excellence initiatives are bearing fruit as we are seeing positive results in gross margins in our comparable year-over-year business where we expanded margins meaningfully,” said Springer.
Malibu Boats is a designer, manufacturer and marketer of performance sports boats. Its boats are used for water sports, including water skiing, wakeboarding and wake surfing, as well as general recreational boating.
Contact Uttara Choudhury at [email protected]