En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. I will now turn the call over to Mr. Jack Springer for closing remarks. And the environment will switch. But as Jack said in his prepared remarks that the residence situation, I mean, there are challenges out there. Great. For the fiscal third quarter net sales increased nearly 50% to $273 million. Have your gift delivered instantly via email or text, print it yourself at home, or have it professionally printed and delivered to your recipient by mail. We are well positioned to flip the switch at any moment and ramp-up production and supply headwinds subside. Our team's commitment to leading the boating industry is a recipe for consistent victory and our largest catalysts for future growth. Receive a prize based on how many points you score within the time limit! In addition, we remain on pace to execute on our strategic initiatives to help further enhance our production capabilities. Adjusted gross margin declined by 170 basis points to 23.6%, and adjusted EBITDA margin declined by 250 basis points to 17.6% during the quarter. But in terms of taking orders, your dealers have to be delighted to get full MSRP. Obviously, some of the labor that we're carrying is a drag. And then, it sounds like there was some money left on the table, especially at Malibu and Cobalt. REQUIREMENTS: One Passenger: - Must be age 10 or older AND 56" or taller - Max Weight: 300 lbs Two Passengers: Sure. detailed description of these risk factors. You may now disconnect. And I don't think that will ever be lost on the end consumer. This expansion and improvement of the gel coat lamination areas along with our footprint expansions for small boats and cruisers. Thank you for participating. I don't think we're planning on breaking that out. During the period of February record low temperatures in Kansas, we pause Cobalt operations in the other shade for three days to conserve power for the town. Digital Game Card. You can share the card with friends. Visit today and have an amazing time at our locally owned and reasonably priced fun center. No, we don't -- I mean in the middle of a quarter like this we would not raise prices on our dealers or on our customers. Established in 2013. Malibu Jack's Indoor Theme Park Malibu Jacks Indoor Theme Park features 14 lanes of bowling, a full go-cart track, mini-golf course, laser tag arena, indoor roller coasters, 3D experience rides, and a state of the art arcade. Please also note that we will be referring to certain non-GAAP financial measures on today's call such as adjusted EBITDA, adjusted EBITDA margin, adjusted fully distributed net income and adjusted fully distributed net income per share. Our legacy Malibu and Axis business continues to perform well. Furthermore, we also introduced the largest Axis ever produced, the T250, in the first quarter, which only adds to our rich margin profile and product suite. And there is such a scarcity of product, that I don't think it's going to cause anybody to bat an eyelash when you consider our demographics. And if you -- if there's no impact on volume from a physical to the virtual world, let's say for example, what would be the cost savings or efficiency look at being 100%? So that's part of the temporary disconnect between price increases and cost input increases. And I think we feel really comfortable that retail demand remains robust. At this time, all participants are in listen-only mode. So I'm not going to break it out specifically, but I think the part of the margin reflection is the strength of that Pursuit business, and Maverick was right on top of our plan. The reduction in our margin for the year is driven by the combination of lower volumes and the temporary impact of inflationary cost pressures as we work through our announced price increases across our product lines. And as a reminder, today's call is being recorded. And Cobalt has also increased versus the 2020 show. ), 2. So maybe thinking about how that might constrain gross margin upside. This wild ride spins you to the beat both forward and backward! And then I think that largely from a COVID aspect, we're a year into this. Consolidated net sales per unit increased 9.7% to approximately $111,300 compared to the prior year period, primarily driven by a favorable mix across all of our brands. Attractions set to $5 include: Go-karts, Laser Tag, Malibu Golf, XRider, Dark Ride, Surf's Up, and Bounce Beach Kids Zone Yes, I mean, just to add to Jack's points there mean, with respect to April, we've literally just saw the largest flooring pay off, ever for the month of April. Those will actually start impacting our P&L in the month of December. We delivered another setting quarter marking the best quarter in the companys history from a unit shipped revenue, gross profit and earnings perspective. No. Other Five Star partners include all three locations of The Track Family Fun Parks in Branson, Missouri; two locations of Dubby's Attractions in Branson and three in Pigeon Forge, Tennessee; and all five locations of Celebration Station, in the prime suburban locations of Clearwater, Florida; Baton Rouge, Louisiana; Greensboro, North Carolina; Oklahoma City, Oklahoma; and Mesquite, Texas. What I was trying to convey, Mike, is that based upon the heavy retail selling, and we thought that by this time, we would at least be starting to put inventory into the channel, we think that we have that ramp up period of 24 to 36 months to get inventory levels back to where they wouldn't be. Looking ahead, Malibu is in a unique and enviable position to meet expectations for fiscal year 2022, notwithstanding a tightening supply chain and inflationary concerns. ADD money to a Play Card (Entry is free! - "Malibu" is a song recorded by American singer Miley Cyrus as the lead single from Cyrus' sixth studio album, Younger Now. This concludes today's conference call. We expect to continue to manage through supply chain issues through the fourth quarter. But the other is bringing that large plant expansion online and building more boats in those larger boats, that's also influencing that ASP. Well, I think again, it comes back to the environment that we're in. Malibu (album) - Malibu is the second studio album by American singer Anderson Paak. And dealers are going to have to carry stock because people will want to come in. But what do you see as the big margin drivers going forward beyond the Pursuit playbook that you guys could be falling now at Maverick for example? As a percentage of sales G&A expense excluding amortization increased 140 basis points to 6.7%. For Malibu, sales for our new 25 LSV and T250 models and our premium M-Series boats are booming, driving enhanced margins for the business despite the negative impact of the supply chain on volumes. I think in the third quarter is the primary brands that were affected were Cobalt, Malibu. And then, Jack, we always love when you play economist. ", "Since our inception, Five Star Parks & Attractions has been focused on finding partners who have developed creative ways to really make a difference in our industry," said John Dunlap, Five Star's CEO. We will then open the call for questions. Or maybe a greater desire to be able to specify exactly what they want for content? In addition, the magnitude of new customers we are seeing entering the marine space is ice cream on the apple pie. REQUIREMENTS:- Must be 38" or taller to ride- Max weight 350 lbs. Our teams continue to push boundaries through the introduction of new product models that exemplify innovation and luxury and draw customers into the Malibu, Cobalt, Pursuit and Maverick lifestyles. That is nearly 6 months of production without selling another boat at retail. You can try again. No gate admission! As summer approaches, we're selling more boats and roasted peanuts at a baseball game. So Brad, I think that that kind of speaks to the quarter. The R6 series that we brought out at Cobalt has been a huge impact in terms of that ASP. So we're well on our way to that. Look, I would say, if you look at our performance, historically, Q3 has been the strongest of all our fiscal quarters. But when we get back to a scenario where stock is in the channel, and boat shows are ongoing, that's going to be back to taking precedent. We're going to be able to build larger boats. On the call today from management are Mr. Jack Springer, Chief Executive Officer; Mr. Wayne Wilson, Chief Financial Officer; and Mr. Ritchie Anderson, Chief Operating Officer. In the third quarter, net sales increased 49.8% to $273.2 million, and unit volume increased 36.6% to 2,454 boats compared to the prior year period. If you have an ad-blocker enabled you may be blocked from proceeding. So this is the first question, Brad is not mitigated whatsoever. And we believe our sustainable long-term competitive advantages will result in market share gains and increased profitability. And this year is no different in that way. In that vein, I am incredibly proud that we've maintained our talented workforce despite the labor shortages taking place across the industry as federal programs on social distancing and vaccination's impact and the individual's decision regarding returning to work. SWIPE your card to play at any attraction or game. I'm wondering if you can find a way to preserve some of that. , . As the boating industry continues to experience blistering consumer demand, we are committed to delivering as many boats as possible to our sustainable and loyal customer base. I think we will return to that 50% buying slots or retail sale boat. We are ahead of schedule on our Maverick Plant 2 expansion that doubles the production footprint of that plant, and we expect to start building both in that new facility during the second half of fiscal 2022. And I believe that it will enhance the quickness of the sales cycle. But I'm wondering if maybe that hiccup this quarter with weather has changed that at least temporarily? By Mark Green. 4 were here. Just one quick housekeeping item, if you could break out, maybe the sales and unit contribution from Maverick in the quarter? So there is no doubt that in our minds, we can continue to add up produce our competition in almost every brand, certainly Malibu in Axis. Falling behind? There's some cushion. Malibu Jack's creates "indoor theme parks" that breathe new life into vacant buildings and bring together families and communities for huge amounts of all-weather, year-round fun. Reconciliations of these non-GAAP financial measures to GAAP financial measures are included in our earnings release. On the call, Jack will provide commentary on the business, and I will discuss our first quarter of fiscal year 2022 financials. The real issue comes back to resin and the Texas plants being shut down. We feel primed for success as we continue to drive innovation, capitalize on record-setting consumer demand and deliver high-quality products at healthy margins. In this fiscal year, we will be introducing 3 new boats, all of which are filling out product lot spaces that we identified when we acquired Pursuit. The increase in net sales was driven primarily by a favorable model mix in our Malibu and Cobalt segments, year-over-year price increases and increased unit volumes, primarily due to the acquisition of Maverick Boat Group on December 31, 2020. 2. That's how we win. Malibu Grand Prix - Malibu Grand Prix (MGP) is an entertainment company that was popular during the 1970s and 1980s as a franchised miniature indy car racing track. And if we can get that supply chain to start cooperating with us and we can start building more boats, it should be fantastic. Delivered in a customized greeting card by email, text or printout. Leveraging the agility of our team and the strength of our flexible business model, our strong third quarter performance demonstrated Malibu's resilience, providing us with even more confidence that we will reach our new fiscal year 2021 guidance that we raised this morning. Malibu Boats, Inc. (NASDAQ:MBUU) Q3 2021 Results Earnings Conference Call May 4, 2021 8:30 AM ET, Jack Springer - Chief Executive Officer and Director. Well, I think that it is function of the environment we're in. Talking to our dealers, it is just as hot as it has been. We'll continue to see margin uplift in Pursuit. income per share. The Twist N Shout indoor coaster will slingshot you to high speeds! This year, we'll continue to see that over the coming years. Similar to Cobalt, there's an opportunity to replace outdated products, and like Pursuit, there are product white spaces that we will fill to drive growth. Our facility features go-karts, laser tag, mini golf, and much more. Great for kids 10 and under. Your recipient will redeem the gift here on our website. Card number is everything up to the * (Example: 1234567*123) PIN is after the * (Example: 1234567*123) There's still a lot of money out there. This is such a white hot environment. Reconciliations of these non-GAAP financial measures to GAAP financial measures are included in our earnings release. SWIPE your card to play at any attraction or game 3. Spend $40 get 160 Chips plus 24 Chips Free! Given the success you're seeing with the virtual events and digital marketing with zero impact on demand. Your next question comes from the line of Joe Altobello with Raymond James. I don't think that we see it versus what Wayne said it going down any further. Relax while the kids run free in the Bounce Beach play area. And the other thing that I would point to, is that, the supply chain is going to continue to improve, in my opinion. It comes back again to that normality. 87,166 were here. Spend $20 get 80 Chips plus 8! As part of its ongoing growth strategy, Five Star is interested in hearing from existing FEC's that may be interested in joining the team and learning about the group's future plans. Aged inventory and promotions are almost non-existent, allowing dealers to command high margins and making them stronger as well. Please disable your ad-blocker and refresh. Each racer gets 3 boosts to use any time during the race! We have several initiatives in place. Come to Malibu Jack's Indoor Family Fun Park in Lafayette, IN for a day of thrilling attractions and non-stop fun. Net income for the quarter increased 26.7% to $27.9 million. And in terms of the surcharges you mentioned going in place in December, how does that position you from a pricing standpoint vis-a-vis the competition? You have earned {{app.voicePoint}} points. Unfortunately, this browser does not support voice recording. So that leads a little bit to the pressure on that [19.5%] guide versus the [20%] for the year. Please. This 4D motion theater ride for up to 8 players will take you on crazy adventures! We recommend you to try Safari. I think one of the things that I'll point out with cobalt is you seen a pretty big increase this quarter on the Cobalt's ASP. I think from a going forward, it's going to morph and it's going to change. Also, our new Cobalt R-Series, consisting of 9 new models in the last year, remains highly sought after by consumers. We have seen a continuation of supply chain constraints in April specifically with resin and some outboard engines, which are either imported on the west coast or waiting to be accepted into the West Coast ports. But then we're going to be going against comps that are more normalized. As far as the build or tying it to the production plans, we've made a ton of investment in our facilities, pursuit being one, we'll see that increase -- we saw the increase. I mean it's across all of marine. "We love that challenge, and what appeals to us about this partnership with Five Star is that we'll be able to expand our reach, bringing our original vision to families across the country.". Some have also talked about the fact that they may take another price increase after the first of the calendar year. Malibu Jack's is ready to host any event you can dream up. Jack, maybe -- and Wayne, maybe touching on some of the comments around, I guess, lower volume expectation, you did roughly 2,000 units in the quarter. Maverick, we will have that completed in the fourth quarter of next year, easily barring anything that picks up and so we'll be able to generate that, call it 40% to 50% increase in revenue over the coming period of time. Take out bonus objectives for more points. We continue to see gross margin benefit from our operational excellence efficiencies and our unparalleled vertical integration strategy which allows us to take control of a greater portion of our supply chain, further differentiating Malibu from our competition. At the latter, did you take price to completely offset that even knowing that this is probably a short lived impact and do those price hikes stick if he did? Stop by the cafe for food and drinks if you get hungry. And then this might be a little premature to ask. The quarter brought additional unique supply chain challenges with the Texas winter storms and Kansas freeze and tempered our growth somewhat at Cobalt. So look at that price increase, make sure we're capturing all the costs and keep our margins where they need to be versus what we have predicted before. You've had some success selling production slots, rather than I guess a boat that that already exists, and longer term as customers are okay, now waiting for a boat, do you see a potential change in the way consumers purchase boats? 4 Hour Pass Mon - Fri weekday ALL ACCESS PASS Walk in special! And so I would expect it to start picking up again. Adjusted EBITDA for the third quarter increased 56.7% to $57 million and adjusted EBITDA margin increased 90 basis points to 20.9%. REQUIREMENTS:- Rider: Must be 48" or taller- Passenger: Guests 38" to 47" tall may ride with paying adult (age 18 or older), REQUIREMENTS:- Age 10 and under only- Toddler area for age 3 and under- Socks required- Children must be accompanied by an adult at all times- Adults are not allowed up in play structures. It's really driving that virtual. Maybe give us a sense just from an operating or production standpoint, what that level of visibility means, when you're planning production and thinking about throughput over the next couple of years? Up to 6 players per lane. For Cobalt, we are in the process of introducing 5 more boats between now and the Miami Boat Show that we are very excited about. And so, I think that what you've heard from other industries is accurate. REQUIREMENTS:- Driver: Age 5 or older AND 38" or taller to drive- Passenger: Age 3 or older AND 36" or taller to ride with paying adult (age 18 or older)*Passenger rides free with paying driver. The event, put on in. But there is an element of being able to go into a dealer and buy a boat that day and have it delivered on Saturday. And if there were stocks in the boat shows people would go and they would touch and feel and buy that boat at the boat show. We remain optimistic, these tailwinds will remain elevated for some time. The "Wild Side" performer posted a photo to her Instagram Story over the weekend of herself smiling while the Seattle Seahawks wide . And we remain optimistic that these tailwinds will remain elevated beyond calendar year 2021. Is it concentrated in any particular brand or facility at this point? While we cannot predict when the supply chain will improve, we fully expect our return to normal.