The GAAP headline is a distraction — the adjusted earnings and guidance are what matter. The transition period guidance of ~$289M revenue and ~$0.71 adjusted EPS midpoint implies a strong H2 run-rate post-merger. Watch for the Leisure segment impairment trend and integration execution of Marine Products. The stock may gap on the adjusted beat and guidance, but the GAAP miss and impairment could create intraday volatility.
Price Chart
Executive Summary
MasterCraft Boat Holdings reported fiscal Q4 2026 GAAP loss from continuing ops of $(0.35)/share vs consensus $0.60, a 158% miss, driven by a $10.1M Leisure segment impairment and $11.0M in acquisition-related expenses. However, adjusted EPS of $0.67 more than doubled YoY, and the company guided the six-month transition period to ~$289M revenue and $0.71 adjusted EPS midpoint, implying strong organic momentum post the Marine Products merger. The GAAP miss is noise from one-time charges; the underlying business and guidance are the real story.
Key Financial Metrics
Key Facts
- Q4 GAAP loss from continuing ops $(0.35)/share vs consensus $0.60 (158% miss)
- Adjusted EPS $0.67 vs $0.40 YoY, up 68%
- Q4 revenue $129.9M, up 63.4% YoY; organic (ex-Marine Products) up 21.5%
- Full-year FY2026 revenue $348.9M, up 22.8% YoY; organic up 11.0%
- Full-year adjusted EBITDA $45.6M, up 87% YoY; margin 13.1% vs 8.6%
- Recorded $10.1M non-cash impairment in Leisure segment
- Six-month transition period guidance: revenue $287-291M, adj. EBITDA $29-32M, adj. EPS $0.66-0.76
- Completed Marine Products merger on May 15, 2026, adding $33.3M Q4 revenue
Financial Impact
Q4 GAAP loss of $(7.0M) vs prior-year income of $5.5M; adjusted net income $13.5M vs $6.6M YoY. Full-year GAAP loss $(1.6M) vs income $10.7M; adjusted net income $30.2M vs $15.1M. Transition period guidance implies ~$289M revenue midpoint.
Risk Factors
- Leisure segment impairment suggests ongoing weakness in pontoon demand
- Integration risk from Marine Products merger; $20.4M in transaction costs this year
- Fiscal year-end change to Dec 31 creates a 6-month transition period, complicating year-over-year comparisons
- Consumer discretionary spending sensitivity to interest rates and tariffs
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-387237 |
| Document: mcft-20260910.htm | 0001193125-26-387237 |
| Document: 0001193125-26-387237-index-headers.html | 0001193125-26-387237 |
| Document: 0001193125-26-387237-index.html | 0001193125-26-387237 |
| Document: 0001193125-26-387237.txt | 0001193125-26-387237 |
| 8-K Data (Synthetic) | 0001193125-26-387237 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | EFFECT | $19.70 | awaiting T+60 | — | $19.52 (−0.91%) |
Oct 13, 2026 13d ago | S-3 | $19.11 | awaiting T+60 | — | $19.52 (+2.15%) |
Oct 13, 2026 13d ago | 8-K | $19.11 | awaiting T+60 | — | $19.52 (+2.15%) |
Sep 22, 2026 4w ago | Insider Cluster | $20.47 | awaiting T+60 | — | $19.52 (−4.64%) |
Sep 10, 2026 6w ago | 8-K | $20.57 | awaiting T+60 | — | $19.52 (−5.10%) |
Jun 11, 2026 19w ago | Institutional Cluster | $22.68 $24.15 | ▼ −6.48% | ▼ −2.09% | $19.52 (+13.93%) |
May 26, 2026 21w ago | 3 | $23.94 $25.32 | ▲ +5.76% | ▲ +3.88% | $19.52 (−18.46%) |
May 26, 2026 21w ago | 3 | $23.94 $25.32 | ▲ +5.76% | ▲ +3.88% | $19.52 (−18.46%) |
May 26, 2026 21w ago | 3 | $23.94 $25.32 | ▲ +5.76% | ▲ +3.88% | $19.52 (−18.46%) |
May 22, 2026 22w ago | 8-K | $23.44 $25.14 | ▲ +7.25% | ▲ +4.06% | $19.52 (−16.72%) |
US Market Status
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