MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Q1 2025 Results Earnings Conference Call November 6, 2024 8:30 AM ET

Company Participants

Tim Oxley - Vice President, Chief Financial Officer, Treasurer and Secretary
Brad Nelson - Chief Executive Officer

Conference Call Participants

Joseph Altobello - Raymond James
Craig Kennison - Robert W. Baird
Eric Wold - B. Riley Securities
Drew Crum - Stifel
Michael Swartz - Truist Securities
Noah Zatzkin - KeyBanc Capital Markets

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the MasterCraft Boat Holdings, Inc. Fiscal First Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference call 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's fiscal first quarter performance for 2025. 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 first quarter. 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, November 6, 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. For 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 strong fiscal first quarter results above expectations despite facing a backdrop of continued economic and industry headwinds. We've made significant progress on our key priorities this quarter. Notably, we reduced dealer inventory levels more than we anticipated due to encouraging retail results. This promising start sets a strong foundation for the rest of our fiscal year.