Ryan Williams's questions to Malibu Boats Inc (MBUU) leadership • Q3 2025
Question
Ryan Williams, on for Noah Zatzkin, requested additional color on demand trends during the quarter and into April, and asked about the cost-saving levers available to the business if market conditions were to worsen.
Answer
CEO Steven Menneto characterized demand as following a seasonal ramp but lacking the 'robust punch' previously hoped for, a trend that continued into April, with new products performing well. CFO Bruce Beckman addressed cost levers by highlighting the company's highly variable cost structure (80-90% variable above gross margin) and its ability to generate cash from the balance sheet, underscoring the business model's resilience.