MCFT reported a strong start to fiscal 2026, delivering first-quarter net sales of $69.0 million (up 5.6% year over year) and adjusted EBITDA of $6.7 million, reflecting a 9.7% adjusted EBITDA margin. Management highlighted disciplined cost controls, pricing actions, favorable product mix, and ramping production as key drivers of profitability, alongside the continued momentum from their premium X Series platform beginning with the X24 and a refreshed Pontoon lineup (Crest Conquest and Halo). The company raised full-year guidance on strength in the ramp of new product initiatives and operational efficiency, signaling confidence in H2 upside as the X family scales and dealer channel execution improves. Despite macro uncertainty and a still-cautious retail backdrop (management guides a 5-10% full-year decline in MasterCraft segment retail), MCFT maintains a debt-free balance sheet, ample liquidity, and an active capital return program including notable buybacks. The quarter also featured a meaningful improvement in pipeline inventory (27% YoY) and a disciplined capex plan, positioning MCFT to translate near-term product launches into longer-term growth.