Malibu Q4 Sales Surge
Malibu Boats Reports Fourth-Quarter Sales Jump of 42.7% Driven by Saxdor Acquisition
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Key Points
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Q4 unit volume rose to 1,456 units, up 19.2% year over year, signaling stronger demand alongside Saxdor integration.
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In Q4, Malibu delivered an adjusted EBITDA of $33.9 million and an adjusted EBITDA margin of 11.5%.
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Malibu completed the Saxdor acquisition on March 2, 2026, with ongoing integration and plans for domestically-built Saxdor boats at Fort Pierce in the first half of fiscal 2027.
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For the full year, cash flow generation remained strong, with cash from operations of $67.5 million and free cash flow of $43.2 million.
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Q4 segment performance highlighted: Cobalt net sales of $70.5 million (up 31.0%), Saltwater Fishing $80.9 million (up 11.1%), and Malibu $82.9 million (up 3.2%).
Malibu Boats reported fourth-quarter revenue of $295.5 million, up 42.7% year over year, driven by strong demand and the Saxdor acquisition completed in March 2026. The company beat earnings estimates by posting adjusted earnings per share of $0.92, topping consensus by roughly 21%, according to Watchlist News.
For the full year, Malibu's net sales reached $914.6 million, up 13.3%, with gross margins declining to 16.0% due to higher per-unit costs. The board authorized a $70 million share repurchase program and refinanced debt extending maturity to 2031, signaling confidence in the company's strengthened balance sheet.
Saxdor Acquisition Powers Q4 Growth
The Saxdor purchase drove much of Malibu's Q4 surge, contributing $61.2 million in revenue and 180 boat units during the quarter. For the full year, Saxdor added $84.3 million in sales since its March 2 close. The company plans to begin building Saxdor boats domestically at Fort Pierce in the first half of fiscal 2027, expanding production capacity and margins.
Unit Volume and Segment Performance Rise
Malibu sold 1,456 boats in Q4, up 19.2% from the prior year, signaling healthy demand across its lineup. The Cobalt segment led with $70.5 million in sales, up 31.0%, while Saltwater Fishing posted $80.9 million, up 11.1%. Malibu's namesake brand grew to $82.9 million, up just 3.2%, showing uneven strength across product lines.
Profitability Expands Despite Cost Headwinds
Gross profit jumped 59.4% to $52.2 million in Q4, reaching a 17.7% margin, far outpacing the full-year margin of 16.0%. Adjusted EBITDA for the quarter totaled $33.9 million at an 11.5% margin. For the full year, adjusted EBITDA reached $73.9 million. Rising per-unit costs across all segments weighed on full-year margins despite strong revenue growth.
Cash Generation and Capital Allocation Strengthen
Operating cash flow reached $67.5 million for the full year, with free cash flow of $43.2 million. The $70 million share buyback authorization and debt refinancing to 2031 reflect Malibu's confidence in future performance. These moves give the company flexibility to return capital while investing in integration and domestic Saxdor production.
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