MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Q4 2024 Results Conference Call August 29, 2024 8:30 AM ET

Company Participants

Tim Oxley - Chief Financial Officer
Brad Nelson - Chief Executive Officer

Conference Call Participants

Martin Mitela - Raymond James
Drew Crum - Stifel
Kevin Condon - Baird

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the MasterCraft Boat Holdings, Inc. Fiscal Fourth Quarter and Full Year 2024 Earnings Conference Call. 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, Chief Financial Officer. Please go ahead, sir.

Tim Oxley

Thank you, operator, and welcome, everyone. Thank you for joining us today as we discuss MasterCraft fiscal fourth quarter and full year performance for 2024. 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 is Brad Nelson, Chief Executive Officer. We will begin with an overview of our operational performance from the fourth quarter and full year. I will then discuss our financial performance. Then Brad will provide some closing remarks before we open the call for questions.

Before we begin, we'd like to remind participants that the information contained in this call is current only as of today, August 29, 2024. 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 the safe harbor disclaimer in today’s press release.

Additionally, on this conference call, we will discuss non-GAAP measures that include or exclude items not indicative of our ongoing operations. To each non-GAAP measure, we also provide the most directly comparable GAAP measure in today's press release, which includes a reconciliation of these non-GAAP measures to our GAAP results. There's also 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 Brad.

Brad Nelson

Thank you, Tim, and good morning, everyone.

MasterCraft delivered results ahead of our latest expectations, while continuing to navigate a challenging economic environment and a highly competitive retail landscape. Entering fiscal 2024, our focus was to proactively navigate market headwinds and execute our strategic and operational priorities to generate value for our stakeholders. Our efforts were centered-around destocking field inventory levels, advancing consumer and dealer-centric initiatives and returning capital to shareholders, while optimizing profitability and cash flow.