MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Q2 2023 Earnings Conference Call February 8, 2023 8:30 AM ET

Company Participants

Tim Oxley - Chief Financial Officer

Fred Brightbill - Chairman & Chief Executive Officer

George Steinbarger - Chief Revenue Officer

Conference Call Participants

Joe Altobello - Raymond James

Craig Kennison - R.W. Baird

Drew Crum - Stifel

Eric Wold - B. Riley Securities

Michael Swartz - Truist Securities

Operator

Good day and thank you for standing by. Welcome to the Q2 2023 MasterCraft Boat Holdings, Inc. Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Tim Oxley, CEO [ph]. Please go ahead.

Tim Oxley

Thank you, operator and welcome, everyone. Thank you for joining us today as we discuss MasterCraft's second quarter performance for fiscal 2023. As a reminder, today's call is being webcast live and will also be archived on our website for future listening. With me on this morning's call are Fred Brightbill, Chief Executive Officer and Chairman; and George Steinbarger, our Chief Revenue Officer. Fred will begin with a review of our operational highlights from the second quarter. I will then discuss our financial performance for the quarter. Then I'll turn the call back to Fred for some closing remarks before we open the call for Q&A.

Before we begin, we'd like to remind participants that the information contained in this call is current only as of today, February 8, 2023. The company assumes no obligation to update any statements, including forward-looking statements. Statements that are not historical facts are forward-looking statements and subject to a safe harbor disclaimer in today's press release. Additionally, on this conference call, we will discuss non-GAAP measures that include or exclude special or items not indicative of our ongoing operations. For each non-GAAP measure, we also provide the most directly comparable GAAP measure in our fiscal 2023 second quarter earnings release which includes a reconciliation of these non-GAAP measures to our GAAP results. We would also like to remind listeners that there is a slide deck summarizing our financial results in the Investors Section of our website. As a reminder, unless otherwise noted, the following commentary is made on a continuing operations basis.

With that, I'll turn the call over to Fred.

Fred Brightbill

Thank you, Tim and good morning, everyone. Net sales, diluted adjusted earnings per share and adjusted EBITDA were all the highest for any second quarter in the company's history and it is our ninth consecutive year-over-year record-setting quarter. When compared to the second quarter of fiscal 2022, net sales were higher by more than 10%. Adjusted EBITDA grew by nearly 10% and adjusted net income per share grew by nearly 19%.