MasterCraft 10-K Reveals $10.1M Crest Impairment and Marine Products Purchase Accounting
MCFT sits 32% above its 52-week low of $17.19.
Summary
MasterCraft's fiscal 2026 10-K discloses a $10.1M Crest brand impairment, full Marine Products purchase accounting, and a fiscal year-end change to December 31.
Key Events · Earnings and Guidance · MCFT
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Crest Brand Impairment
Leisure segment recorded $10.1M in non-cash impairment charges — $4.1M on the Crest dealer network and $6.0M on the Crest trade name — reducing assets to estimated fair value after updated projections showed lower recoverability.
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Marine Products Purchase Accounting
Full allocation of the $284.2M merger consideration: $105.6M goodwill, $65.1M identifiable intangibles ($37.5M trade names, $25.0M dealer networks), and $67.8M property, plant and equipment.
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Fiscal Year-End Change
Board approved changing fiscal year-end from June 30 to December 31, effective July 1, 2026; company will file a transition report on Form 10-KT for the six-month period ending December 31, 2026.
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Credit Facility Restructured
Fifth Amendment to credit agreement provides a $75M revolving credit facility (down from $100M), replaces fixed charge ratio with interest coverage ratio, and extends maturity to February 5, 2031.
Analysis · MCFT · Manufacturing
The annual report adds material detail beyond the same-day 8-K earnings release. The Leisure segment took a $10.1M non-cash impairment on Crest brand intangibles — $4.1M on the dealer network and $6.0M on the trade name — reflecting updated projections that reduced the brand's estimated fair value. The filing also provides the first full purchase price allocation for the $284.2M Marine Products merger, including $105.6M of goodwill and $65.1M of identifiable intangibles, and confirms the company's fiscal year-end shift to December 31. These are the kind of balance-sheet and valuation details that only surface in the 10-K, not the earnings press release.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 29.9% of the 1988 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.12%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, MCFT was trading at $22.71 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $554.9M. The 52-week trading range was $17.19 to $28.44. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.