Water Sports

2/8/2024 |  MasterCraft Narrows Full-Year Guidance as Boat Market Outlook Weakens (SGB UPDATE) MasterCraft Boat Holdings, Inc. reported consolidated net sales of $99.5 million for the second quarter of fiscal 2024, down $59.7 million from the second quarter of fiscal 2023. The decrease in net sales was reportedly due to lower unit volume and an increase in dealer incentives, partially offset by higher prices and favorable mix and options. Dealer incentives include higher floor plan financing costs due to increased dealer inventories and interest rates, and other incentives as the retail environment remains competitive.

1/25/2024 |  Marine Products Corp. Sees Q4 Boat Unit Sales Sink 34 Percent (SGB UPDATE) Marine Products Corporation, the parent of the Chaparral and Robalo boat brands, reported that fourth-quarter net sales came in at $70.9 million, down 35 percent from the prior year’s corresponding quarter. 
The decrease in net sales was primarily due to a 34 percent decrease in boats sold during the quarter. A 4 percent increase in gross average selling price was offset by higher retail incentives for a new program announced during the quarter.

1/22/2024 |  BRP, Inc. Amends, Extends Term Loan Facility (SGB UPDATE) BRP, Inc., the parent of the Ski-Doo, Sea-Doo and Lynx power sports brands, amended and extended a substantial portion of its term loan facility, extending its “U.S. $1,000 million of debt maturities from 2027 to 2031.”
“Proactively addressing our debt maturities is an important strategy behind our commitment to preserve a strong balance sheet and further increases our flexibility to operate and invest for the long-term growth of the company,” said Sébastien Martel, Chief Financial Officer of BRP.

12/14/2023 |  Shreveport-Bossier to Host Formula 1 Powerboat Racing in 2024 (SportsTravel) The Shreveport-Bossier Sports Commission has announced the return of Formula 1 Powerboat Racing to Lousiana with the Red River Rumble F1 Powerboat Showdown, scheduled to take place from May 24–26, 2024.
“We are looking forward to bringing Powerboats back to the Red River and Shreveport-Bossier in 2024-2026,” said Sara Nelms, director of sports for the Shreveport-Bossier Sports Commission. “We are excited to host this event in conjunction with Mudbug Madness and showcase the world class Formula 1 drivers.”

11/21/2023 |  World Wake Association Heads to Snohomish County and Georgia in 2024 (SportsTravel) The series in its 11th year will combine competitive wakeboarding, with an emphasis on rider development. The U.S. events will be in Pine Mountain, Georgia, at Robin Lake at Callaway Gardens, May 24–26, for the 64th Nautique Masters Waterski and Wakeboard Tournament presented by GM Marine and Lake Tye in Monroe, Washington, from July 25–28 for the Nautique WWA Wakeboard National Championships alongside the Nautique U.S. National Wakesurf Championships.