"Increasingly Cautious Consumer": Polaris Shares Crash As High Interest Rates Crush Demand For ATVs & Jetskis [zero hedge]
MasterCraft Boat Holdings, Inc. (MCFT)
Last mastercraft boat holdings, inc. earnings: 2/5 07:30 am
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US:NASDAQ Investor Relations:
investors.mastercraft.com/node/5806
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Source: zero hedge
"Increasingly Cautious Consumer": Polaris Shares Crash As High Interest Rates Crush Demand For ATVs & Jetskis A toxic trifecta of high interest rates, elevated inflation, and increasingly cautious dealers and consumers led Polaris to report dismal second-quarter results . The earnings miss and reduced full-year forecast for sales and profit indicate the once-thriving outdoor adventure market for ATVs, UTVs, jet skis, and snowmobiles is now in a deep freeze. Polaris reported $1.96 billion in sales for the second quarter, missing the Bloomberg estimate of $2.17 billion. Sales for off-road, on-road, and marine all missed estimates, indicating that consumers are dialing back purchases of outdoor vehicles because of high interest rates. Here's a snapshot of second-quarter earnings (courtesy of Bloomberg): Sales $1.96 billion, -12% y/y, estimate $2.17 billion (Bloomberg Consensus) Off Road sales $1.53 billion, -6% y/y, estimate $1.64 billion On Road sales $293.3 million, -19% y/y, estimate
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News
- MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- MasterCraft Boat Holdings (NASDAQ:MCFT) shareholders have endured a 31% loss from investing in the stock three years ago [Yahoo! Finance]Yahoo! Finance
- MasterCraft Boat's Q4 Earnings Beat Estimates, Stock Down [Yahoo! Finance]Yahoo! Finance
- MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) had its "hold" rating re-affirmed by analysts at Truist Financial Co.. They now have a $15.00 price target on the stock.MarketBeat
- MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) had its "buy" rating re-affirmed by analysts at Stifel Nicolaus. They now have a $22.00 price target on the stock.MarketBeat
MCFT
Earnings
- 8/29/24 - Beat
MCFT
Sec Filings
- 9/5/24 - Form 4
- 9/5/24 - Form 4
- 9/5/24 - Form 4
- MCFT's page on the SEC website