Eric Wold's questions to MALIBU BOATS (MBUU) leadership • Q4 2025
Question
Eric Wold from Texas Capital Securities asked if the fiscal 2026 guidance assumes any interest rate cuts and how the company might adjust its promotional strategy if rate relief materializes during the boat show season. He also sought insight on the amount of rate relief needed to stimulate demand from payment-sensitive buyers.
Answer
CEO Steve Menneto clarified that the guidance does not include any rate cuts and that the company is currently in a 'normalized consumer discount' phase. CFO Bruce Beckman added that while a Fed rate cut would immediately benefit dealer floor plan financing, it would take time to trickle down to consumer rates. Beckman acknowledged that lower rates are an important factor for bringing payment buyers back to the market and driving industry growth.