MasterCraft Boat Holdings, Inc. reported consolidated net sales of $76.0 million for the third quarter of fiscal 2025, a decrease of $8.0 million from the prior-year period. Diluted income from continuing operations per share was $0.23, down from $0.34 in the third quarter of fiscal 2024.
Adjusted net income per diluted share was $0.30, compared to $0.50 in the prior-year period, and Adjusted EBITDA was $7.5 million, down from $11.7 million. The gross margin percentage declined by 250 basis points to 9.9%, primarily due to changes in sales price, material and overhead inflation, and lower cost absorption.
The company generated $18.5 million in operating cash flow year-to-date and reported a debt-free balance sheet with approximately $67 million in cash and investments. MasterCraft revised its full-year guidance, now expecting net sales of approximately $275 million, adjusted EBITDA of approximately $20 million, and adjusted earnings per share of approximately $0.71, with capital expenditures around $9 million. Dealer inventories were down approximately 30% year-over-year and 45% from Q3 FY19.
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