Malibu Boats, Inc. Class A (MBUU)

In December 2025, Malibu Boats increased its share repurchase program to $70 million. In March 2026, the company acquired Saxdor Yachts for approximately $175 million. In May 2026, Malibu Boats reported its third-quarter fiscal 2026 results, which significantly exceeded analyst expectations, with adjusted earnings per share of $0.56 and revenue of $235.7 million. Following these strong results, the company provided an encouraging full-year fiscal 2026 outlook, with revenue guidance of approximately $880 million to $886 million and adjusted EBITDA guidance of approximately $72 million to $74 million. Shares jumped 22.5% in the afternoon session after the earnings release. The company acknowledged ongoing retail softness but observed a "clear bifurcation" in the market.

Demand for Malibu Boats' products is subject to seasonality, with peak sales occurring in spring and summer due to warmer weather and increased buyer eagerness. Late fall and winter are off-peak seasons, during which prices tend to decrease. Malibu Boats manages these seasonal variations through its manufacturing processes and by offering dealer incentive programs, such as floor plan financing relief during the off-season. The company has also observed a return to more typical seasonal patterns in recent years.

Malibu Boats, Inc. is a leading designer, manufacturer, and marketer of recreational powerboats, including performance sport boats, sterndrive boats, and outboard boats, catering to various recreational activities. The company is a market leader in the performance sport boat category through its Malibu and Axis brands, holds a leading position in the 20'-40' sterndrive boat segment with its Cobalt brand, and in the saltwater fishing boat market with brands like Pursuit, Cobia, Pathfinder, Maverick, and Hewes. Malibu Boats began producing its own engines in 2020 and has expanded into boat trailers and accessories, and recently expanded its offerings to include adventure dayboats through the acquisition of Saxdor Yachts.

Malibu Boats' geographic market presence is primarily concentrated in North America, which accounted for approximately 90% of its consolidated net sales in fiscal year 2025. The company operates manufacturing facilities in Loudon, Tennessee, Merced, California, and Albury, New South Wales, Australia. The acquisition of Finland-based Saxdor Yachts in March 2026 expanded Malibu Boats' global footprint, particularly in the European market, and provides manufacturing capabilities on both sides of the Atlantic. In October 2023, Malibu Boats announced an expansion of its Cobalt boat brand production in Roane County, Tennessee, creating 770 new jobs.

Malibu Boats has maintained a strong brand reputation, emphasizing continuous innovation, craftsmanship, and delivering high-quality boating experiences. The company is recognized as the world's largest manufacturer of watersports towboats. Malibu Boats received the 2026 CSI Award at the Miami Boat Show for customer satisfaction, and the 23 LSV model was named the 2025 Boat Of The Year. At the Miami International Boat Show, Malibu Boats earned National Marine Manufacturers Association Customer Satisfaction Index awards across five of its brands: Malibu, Axis, Cobalt, Pursuit, and Pathfinder. No significant negative events impacting the company's brand reputation were identified during this period.

Malibu Boats, Inc. is primarily owned by institutional investors, who collectively hold approximately 58.26% to 78.96% of the company's stock. Major institutional shareholders include Pzena Investment Management LLC, Wellington Management Group LLP, Cooke & Bieler LP, BlackRock, Inc., Twin Lions Management LLC, Vanguard Group Inc, Delaware Management Holdings, Inc., Dimensional Fund Advisors LP, Lodge Hill Capital, LLC, and Fort Washington Investment Advisors Inc. Insiders hold a smaller stake, typically around 2.59% to 3.03%. Canyon Value Realization Master Fund LP is noted as a significant individual shareholder, owning 8.03% of the company.