MasterCraft Boat : FINAL MCBH FY26 Q3 Earnings Presentation

Published: 2026-05-07 07:49:21 ET MCFT

Published on 05/07/2026 at 07:49 am EDT

Fiscal Third Quarter Results

May 7, 2026

Additional Information and Where to F ind I t

In connec t ion with t he propos ed tra nsa ct ions, MCBH intends to f ile with t he SEC a registrat ion statem ent on Form S- 4 ( the " Registrat ion Statement "), w hich w ill inc lude a prospect us with res pec t to t he s ha res of MCBH com mon stoc k to be issued in the propos ed t ra ns a ct ions a nd a jo int proxy s tatement/ pros pec t us for MCBH's a nd Mar ine Product s' res pect i ve s toc kholders (the "Joint Prox y Statem ent / Pros pect us"). The def init ive jo int proxy statement ( if and when ava ila ble) w ill be ma iled to stockholders of MCBH a nd Ma r ine Product s . Ea ch of MCBH and Ma r ine Product s may a lso fi l e with or f urnish to the SEC other re leva nt documents rega rding t he propos ed tra nsa ct ions. T his pres entat ion is not a substitute for t he Registrat ion Statement, t he Joint Proxy Statement/ Pros pect us or any other document that MCBH and Marine Products may mail to their respective stockholders in connect ion with the proposed transactions.

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND THE JOINT PROXY STATEMENT/ PROSPECTUS, AS WELL AS ANY AMENDM ENTS OR SUPPLEMENTS TO THOSE DOCUMENTS AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTIONS, WHEN THEY BECOME AVAILABLE, BECAUSE THEY DO AND WILL CONTAIN IMPORTANT INFORMATION ABOUT MCBH, MARINE PRODUCTS CORPORATION, AND THE PROPOSED TRANSACTIONS.

Investors a nd s ec ur i ty holders may obta in copies of these docum ent s f ree of c harge through t he webs i te mainta ined by t he SEC at ww w. sec. gov or from MCBH at its webs i te, w ww. mastercraft . com, or f rom Mar ine Product s at it s webs i te, ww w. m ar ineproduct s cor p. com. Doc ument s f iled with the SEC by MCB H w ill be ava ilable f ree of c harge by a cc es s ing t he investor sec tion of MCBH's website, ww w. investors. m astercra f t . com, or, a l ter nat ively, by direct ing a request by em a i l to MCBH at investorrelat ions @ ma stercraf t . com, and doc uments f iled with t he SEC by Mar ine Product s w ill be ava ilable free of c harge by acc es s ing Ma r ine Products' webs ite at www. ma rineproductscorp. com under t he hea ding Investor Relat ions or, a lter nat ively, by direct ing a request by ema i l to Mar ine Products at j large@ marineproductscorp. com.

Participants in the Solicitat ion

MCBH, Marine Products , a nd c er ta in of t heir respect i ve d irec tors, exec ut i ve off i cers, and ot her mem bers of ma na gement a nd em p loyees may be deemed to be pa r t i c ipa nts in t he s olic itat ion of prox ies f rom t he s toc kholders of MCBH a nd M ar ine Product s in connec t ion with t he propos ed tra ns ac t ions under t he r ules of t he SEC. Inform at ion a bout MCBH's directors a nd exec ut i ve off ic ers is ava ilable in MCBH's proxy statem ent dated September 15 , 2025 for its 2025 Annua l Meet ing of Stoc kholders ( ava ila ble here) . To t he extent holdings of MCBH common stock by t he d irec tors a nd execut ive off ic ers of MCBH have c ha nged f rom t he amount s of MCBH common stoc k held by s uc h pers ons as ref lected t herein, suc h c hanges have been or w ill be reflec ted on Statements of C hange in O w ners h ip on Form 4 f iled w ith t he SEC ( ava ilable here) . I nformat ion a bout Mar ine Product s' d irectors a nd execut ive off i c ers is ava ilable in Ma r ine Products' prox y statem ent dated M arch 12 , 2025 , for it s 2025 Annua l Meet ing of Stockholders ( ava ilable here) . To t he extent holdings of M ar ine Product s common stoc k by t he d irec tors a nd execut ive off ic ers of Mar ine Produc t s have cha nged f rom t he amounts of M ar ine Product s common stock held by s uc h pers ons as ref lec ted t herein, s uc h c ha nges have been or w ill be ref lected on Statements of Cha nge in O w ners hip on Form

4 f iled w ith t he SEC ( ava ilable here) . Ot her inform at ion regarding t he par t ic ipa nt s in t he proxy s olic i tat ion a nd a desc r ipt ion of t heir direct a nd indirec t interest s , by s ec ur i ty holdings or otherwise, w ill be conta ined in t he J o int Prox y Statement/ Pros pect us a nd ot her releva nt m ater ials to be filed with t he SEC regarding t he propos ed t ra ns ac t ions w hen t hey becom e ava ila ble. Investors s hould rea d t he J o int Proxy S tatement/ Pros pec tus carefully w hen it becomes ava ila ble before m aking a ny vot ing or investment dec i s ions. You may obta in f ree copies of these doc uments from the SEC 's website at www. sec. gov or from MCBH or Marine Products using the sources indicated above.

No Offer or Solicitat ion

This pres entat ion does not const i t ute an offer to s ell or the s olic i tat ion of an offer to s ubsc r ibe for or buy any sec urities or a s olic itat ion of a ny vote or approval with res pec t to the propos ed t ra ns ac t ions or otherwise, nor sha ll there be any sa le, issua nce or tra nsfer of sec ur i t ies in a ny jur i s dic t ion in w hic h s uc h offer, solic i tat ion, or s a le would be unla wf ul pr ior to registration or qualif i cat ion under the securities laws of such jurisdic t ion.

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s

Brad Nelson

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s 4

Chief Executive Officer and Director

Scott Kent

Chief Financial Officer

Dollars Presented in Millions, Except Per Share Data

Financial Results Above Expectations

Net sales of $78.2

Net loss of ($0.7) 1

Diluted Net Income per share of ($0.04) 2

Adjusted EBITDA of $10.7

Diluted Adjusted Net Income per share of $0.45

Resilient Balance Sheet Provides Flexibility

Strong financial position underscored by ~$85 of cash and investments

No debt

Fully funded strategic growth initiatives

Substantially Improved Channel Inventories

Dealer inventories down 28% YoY

Progress led by production discipline and effective dealer support programs

Production plan weighted toward second half of fiscal year

Premium Product Driving Momentum

Successfully launched our premium X23 at MasterCraft, rounding out next-generation X-series

Encouraging retail and boat show results driven by the new product launches

Driving strong demand and improved mix in Q4

1 Income from continuing operations, inclusive of transaction fees l 2 Diluted Income per share from continuing operations

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s 5

N et S ales 1

($'s in millions)

U n i t V o l u m e

N e t In c o m e ( L o s s ) 2/ A d j u st e d E B I T DA

($'s in millions)

Dil u t e d N e t I n c o m e P e r S h a r e 3 / A djus t ed

Dil u t e d N e t I n c o m e P e r S h a r e

$66.8

$64.2

$11.7

$11.4

$76.0

$78.2

619

422

409

162

197

571

$10.7

$0.45

Q3 FY25 Q3 FY26

$7.5

$3.8

($0.7)

Q3 FY25 Q3 FY26

$0.30

$0.23

($0.04)

Q3 FY25 Q3 FY26

Net sales of $78.2, up 3.0% from Q3 FY25

Wholesale units of 571, down 7.8% from Q3 FY25

Net Loss of ($0.7), down $4.5 from Q3 FY25

Adjusted EBITDA of $10.7, up $3.2 from Q3 FY25

Diluted Earnings Per Share of ($0.04) per share, down $0.27 per share from Q3 FY25

Adjusted Diluted Net Income of $0.45 per share, up $0.15 per share from Q3 FY25

1 May not tie due to rounding l 2 Income from continuing operations l 3 Diluted Income per share from continuing operations

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s

N et S ales 1

($'s in millions)

$186.6

$174.9

$29.8

$32.3

$204.7

$219.0

U n i t V o l u m e

1,723 1,719

N e t In c o m e 2/ A djus t ed E B IT D A

($'s in millions)

$25.2

Dil u t e d N e t I n c o m e P e r S h a r e 3 / A djus t ed

Dil u t e d N e t I n c o m e P e r S h a r e

$14.9

$5.3

$5.4

1,195

1,196

524

527

$1.03

$0.53

$0.32

$0.33

Q3 FY25 YTD Q3 FY26 YTD

Net sales of $219.0, up 7.0% from Q3 FY25 YTD

Wholesale units of 1,719, down 0.2% from Q3 FY25 YTD

Net Income of $5.4, up $0.2 from Q3 FY25 YTD

Adjusted EBITDA of $25.2, up $10.3 from Q3 FY25 YTD

Diluted Earnings Per Share of $0.33 per share, up $0.01 per share from Q3 FY25 YTD

Adjusted Diluted Net Income of $1.03 per share, up $0.50 per share from Q3 FY25 YTD

1 May not tie due to rounding l 2 Income from continuing operations l 3 Diluted Income per share from continuing operations

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s

Retain Strong Financial Position

Maintain healthy balance sheet

Ensure adequate liquidity

Zero debt

Invest in Long-Term Growth

Organic Growth:

Focused innovation

Product line development

Internal brand development

Complementary Inorganic Growth

/ M&A:

Highly selective and disciplined approach

Return Excess Cash

($'s in millions)

$50 share repurchase program authorized in July 2023 (~$23 available)

Returned ~$77 to shareholders since FY21

Maintain flexibility to continue returning excess cash to shareholders

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s 8

Key Metrics

($'s in millions)

Cash and ST Investments

Capital Expenditures (TTM) Share Repurchases (TTM) Revolving Credit Availability

$84.6

$8.3

$6.9

$75.0

Metric

($'s In Millions, Except Per Share Data)

FY 2026

Net Sales

$312

Adjusted EBITDA

$40

Adj DEPS

$1.65

Capital Expenditures

~$8

1 Excludes impact from the proposed Marine Products Corporation transaction

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s 9

Premium Performance 15 Models

20-25 ft. Length Range

$120k - $500k Price Range

Leisure 3 Models

24-26 ft. Length Range

$230k - $350k Price Range

Leisure

Sport Fishing

21 Models

18-36 ft. Length Range

$40k - $700k Price Range

Recreation

20 Models

20-32 ft. Length Range

$50k - $500k Price Range

6 Models

18-26 ft. Length Range

$40k - $300k Price Range

~4,700

Annual Units Sold1

C O MB I N E D C O MP A N Y B Y T H E N U MB E R S

~$540M

500+

~1,400

Annual Revenue1

Global Dealers2

Employees

Brands

1 LTM as of 12/31/2025 | 2 As of the most recent fiscal year for each company

1 0

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s

E XP E C T E D P R O FO R M A FI N AN C I AL S AT C L O SI N G

~$560M

~$64M

$40M - $60M

$115M - $135M

Net Sales1

Adjusted EBITDA1

Cash

Net Liquidity

Total Debt

FCF Positive

1 Fiscal Year 2026 Pro Forma Combined Net Sales and Adjusted EBITDA (Excludes Projected Cost Savings and Synergies)

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s 1 1

Appendix

(Dollars in thousands)

Q3 FY26

% of

sales

Q3 FY25

% of

sales

Income (loss) from continuing operations

$ (716)

-0.9%

$ 3,821

5.0%

Income tax expense

1,053

Interest expense

Interest income

(760)

Depreciation and amortization

2,482

2,569

EBITDA

$ 1,113

1.4%

$ 6,683

8.8%

Share-based compensation

894

805

ERP implementation costs(1)

291

Business development and consulting costs(2)

8,425

Adjusted EBITDA

$ 10,723

13.7%

$ 7,488

9.9%

The following table sets forth a reconciliation of income (loss) from continuing operations as determined in accordance with U.S. GAAP to EBITDA and adjusted EBITDA and income (loss) from continuing operations margin to EBITDA margin and adjusted EBITDA margin (each expressed as a percentage of net sales) for the periods indicated:

1 3

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s

(Dollars in thousands)

FY26

% of

sales

FY25

% of

sales

Income from continuing operations

$ 5,428

2.5%

$ 5,263

2.6%

Income tax expense

1,811

1,521

Interest expense

146

1,169

Interest income

(2,257)

(2,649)

Depreciation and amortization

6,960

7,024

EBITDA

$ 12,088

5.5%

$ 12,328

6.0%

Share-based compensation

2,688

2,080

Senior leadership transition and organizational realignment costs(1)

196

448

ERP implementation costs(2)

784

Business development and consulting costs(3)

9,394

Adjusted EBITDA

$ 25,150

11.5%

$ 14,856

7.3%

The following table sets forth a reconciliation of income from continuing operations as determined in accordance with U.S. GAAP to EBITDA and adjusted EBITDA and income from continuing operations margin to EBITDA margin and adjusted EBITDA margin (each expressed as a percentage of net sales) for the periods indicated:

1 4

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s

(Dollars in thousands, except per share and share amounts)

Q3 FY26

Q3 FY25

Income (loss) from continuing operations

$ (716)

$ 3,821

Income tax expense

1,053

Amortization of acquisition intangibles

450

Share-based compensation

894

805

ERP implementation costs(1)

291

Business development and consulting costs(2)

8,425

Adjusted Net Income before income taxes

$ 9,393

$ 6,129

Adjusted income tax expense(3)

2,160

1,103

Adjusted Net Income

$ 7,233

$ 5,026

Adjusted Net Income per common share

Basic

Diluted

$0.45

$0.31

$0.30

Weighted average shares used for the computation of:(4)

Basic Adjusted net income per share

16,136,132

16,414,340

Diluted Adjusted net income per share

16,136,132

16,540,345

The following table sets forth a reconciliation of income (loss) from continuing operations as determined in accordance with U.S. GAAP to adjusted net income for the periods indicated:

1 Represents consulting costs incurred in connection with the ERP system implementation | 2 Represents non-recurring third-party business development and consulting costs and debt extinguishment costs related to the Marine Products Transaction | 3 For fiscal 2026 and 2025, income tax expense reflects an income tax rate of 23.0% and 20.0%, respectively | 4 Represents the Weighted Average Shares used for the computation of Basic and Diluted earnings per share as presented on the Consolidated Statements of Operations to calculate Adjusted Net Income per diluted share for all periods presented herein

1 5

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s

(Dollars in thousands, except per share and share amounts)

FY26

FY25

Income from continuing operations

$ 5,428

$ 5,263

Income tax expense

1,811

1,521

Amortization of acquisition intangibles

1,350

Share-based compensation

2,688

2,080

Senior leadership transition and organizational realignment costs(1)

196

448

ERP implementation costs(2)

784

Business development and consulting costs(3)

9,394

Adjusted Net Income before income taxes

$ 21,651

$ 10,662

Adjusted income tax expense(4)

4,980

1,919

Adjusted Net Income

$ 16,671

$ 8,743

Adjusted Net Income per common share

Basic

Diluted

$1.03

$0.53

Weighted average shares used for the computation of:(5)

Basic Adjusted net income per share

16,147,425

16,471,352

Diluted Adjusted net income per share

16,263,844

16,554,235

The following table sets forth a reconciliation of income from continuing operations as determined in accordance with U.S. GAAP to adjusted net income for the periods indicated:

1 6

1 Represents amounts paid for legal fees and recruiting costs associated with the CEO and CFO transitions, as well as non-recurring severance costs incurred as part of the Company's strategic organizational realignment undertaken in connection with the transitions | 2 Represents consulting costs incurred in connection with the ERP system implementation | 3 Represents non-recurring third-party business development and consulting costs and debt extinguishment costs related to the Marine Products Transaction | 4 For fiscal 2026 and 2025, income tax expense reflects an income tax rate of 23.0% and 20.0%, respectively | 5 Represents the Weighted Average Shares used for the computation of Basic and Diluted earnings per share as presented on the Consolidated Statements of Operations to calculate Adjusted Net Income per diluted share for all periods presented herein

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s

Q3 FY26

Q3 FY25

Income (loss) from continuing operations per diluted share

$ (0.04)

$ 0.23

Impact of adjustments: Income tax expense

Amortization of acquisition intangibles Share-based compensation

ERP implementation costs(1)

Business development and consulting costs(2)

-0.03

0.06

0.02

0.52

0.06

0.03

0.05

Adjusted Net Income per diluted share before income taxes

$ 0.59

$ 0.37

Impact of adjusted income tax expense on net income per diluted share before income taxes(3)

(0.14)

(0.07)

Adjusted Net Income per diluted share

$ 0.45

$ 0.30

The following table sets forth a reconciliation of income (loss) from continuing operations per diluted share as determined in accordance with U.S. GAAP to adjusted net income per diluted share for the periods indicated:

1 7

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s

FY26

FY25

Income from continuing operations per diluted share

$ 0.33

$ 0.32

Impact of adjustments: Income tax expense

Amortization of acquisition intangibles Share-based compensation

Senior leadership transition and organizational realignment costs(1)

ERP implementation costs(2)

Business development and consulting costs(3)

0.11

0.08

0.17

0.01

0.05

0.58

0.09

0.08

0.13

0.03

Adjusted Net Income per diluted share before income taxes

$ 1.33

$ 0.65

Impact of adjusted income tax expense on net income per diluted

share before income taxes(4)

(0.30)

(0.12)

Adjusted Net Income per diluted share

$ 1.03

$ 0.53

The following table sets forth a reconciliation of income from continuing operations per diluted share as determined in accordance with U.S. GAAP to adjusted net income per diluted share for the periods indicated:

1 8

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s

($ in thousands)

FY26

FY25

Net cash provided by operating activities of continuing operations

$ 13,387

$ 18,457

Less:

Purchases of property, plant and equipment

(5,746)

(6,606)

Free cash flow

$ 7,641

$ 11,851

The following table presents the reconciliation of net cash flow by operating activities of continuing operations to Free Cash Flow for the periods presented:

1 9

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s

Transaction Structure and Consideration

Marine Products shareholders to receive 0.232 MasterCraft Boat Holdings, Inc. shares and $2.43 of cash consideration per Marine Products share owned (represents total cash consideration of $86 million), in a transaction valued at $232.2 million, net of acquired cash

Current MCBH shareholders to own 66.4% and current Marine Products shareholders to own 33.6% of the combined company

The combined company will continue to trade on the NASDAQ under the ticker MCFT

Pro Forma Financials

FY 2026 pro forma combined net sales of ~$560 million and adjusted EBITDA of ~$64 million, excluding cost savings and synergies

Elimination of Marine Products' public company costs and corporate overhead totaling approximately $6 million of annual net savings. Management expects to achieve additional operating efficiencies and commercial synergies over time

The combination is expected to be accretive to adjusted EPS in Fiscal 2027

Financing • MCBH intends to fund the cash portion of the consideration with combined cash on hand and the existing credit facility. As of March 29, 2026 and March 31, 2026, MCBH and Marine Products had cash and cash equivalents of $84.6 million and $45.8 million, respectively

At closing, the pro forma combined balance sheet is expected to reflect a net cash position

Governance and Management

Following closing, MCBH's Board of Directors will expand from seven to ten directors and include three new directors

Upon completion of the transaction, Roch Lambert will serve as Chair of the Board, Brad Nelson as CEO, and Scott Kent as CFO of the combined company

The combined company will be headquartered in Vonore, TN, and will maintain the Chaparral and Robalo operating facilities in Nashville, GA

Approvals and Closing

The transaction has been unanimously approved by the Board of Directors of both companies and the Special Committee of the Board of Directors for Marine Products

We will hold a special meeting of stockholders at 8am Eastern Time on May 12th, 2026, and expect to close the transaction shortly thereafter, subject to approval by both MasterCraft and Marine Products shareholders and the satisfaction of customary closing conditions

2 0

1 As presented in the S-4 filed on 3/16/2026

F i s c a l T h i r d Q u a r t e r 2 0 2 6 R e s u l t s

Disclaimer

Mastercraft Boat Holdings Inc. published this content on May 07, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 07, 2026 at 11:48 UTC.