MasterCraft Guides 6-Month Transition Net Sales to $287M-$291M
MCFT sits 36% above its 52-week low of $17.19.
Summary
MasterCraft provided first-time guidance for the 6-month transition period following its merger with Marine Products, projecting net sales of $287M-$291M. The company also guided adjusted EPS of 66c-76c for the transition period, with first quarter net sales of $147M and first quarter adjusted EPS of 40c. The guidance follows the amended 8-K filed in June that included pro forma financials for the Marine Products acquisition, and the merger was confirmed on track to close soon in the May 10-Q. The range implies a meaningful revenue base for the combined company, though no profitability metrics were provided beyond the adjusted EPS guidance. Investors will look for confirmation of this range and margin details when the company reports actual transition period results.
At the time of this announcement, MCFT was trading at $23.30 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $556.9M. The 52-week trading range was $17.19 to $28.44. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.