year. for premium we half the call. quarter you strong remains and delivered Wayne, the move of The another our the tide resilient environment as thank carrying with you, through Thank retail demand first boats. We our fiscal joining great for
worsening evolving conditions. While of close to we attention expected the paying macroeconomic our we outlook, are no see
During and incremental and dealer optimistic lingering we disruptions inventories. normalizing have improvements production are chain quarter, our seen the supply in about capabilities the
capabilities, and uncertainty value look periods Through shareholders. to vertical efforts our our of to team, remain track macro integration ability strong multiyear long-term operational of a growth execution execute record have visionary in unmatched and for confident and We environment. during profitable any in deliver our we
MBI second want produce the over never for environment team supply year, to beginning EBITDA with all the and to XX% increasing $XX and diligence, of prior $XXX the overcoming posted chain, to million, growing fiscal brands hard issues I difficult the work, with strong on For seen and have quarter, MBI, net XX% the every stellar income before results. team thank net labor their the to and their approximately of Since adjusted obstacles. nearly $XX sales XX% capability continued and have and we navigated focus COVID member of inflation, all the and million their million. growing
you I have You it. for fantastic, and been commend
the second XX%. margin gross EBITDA declined declined basis XXX quarter, to XX.X% XXX adjusted points For margin while points basis to
line with ASPs and As during in through inflationary I unit of on challenges, a have our availability pressures components our prices and across expectations Despite parts and we impacted stable margin volumes maintained these chain disruptions all the brands. strong supply and quarter. mentioned, profile improved
structure While now, we more inflationary XXXX right that will begun of for to see cost expect as pressures we normalized have a pricing. increase lessen, FY
bolsters the which remaining year demand XXXX. over out but shows, of was which are our are fiscal in last we confidence strong. Historically, Boat results canceled show XXXX recent are been boat seeing results after slower quarter shows first were our back year, positive season, up in second a for has considerably coming
for and by over sales. are when shows double for performing and by XX% are Pursuit unit up Cobalt very Pursuit sales Cobalt; and measuring well in
note back of Minneapolis, to versus historical XX% and measure appearing good be dollars for date, had shows dollars Toronto, XXXX which which also XXXX revenue up shows Lauderdale, are Newport Detroit, attendance, to Portland, revenue shows. include of all norms. Fort and Pursuit We To
crowds Two Cobalt sales. York shows, a outpaced return the was weeks for saw show results In sales seeing record show all also five ago, New discounting. number pursuit that York the great fantastic place and and normal took are and years. previous the to show it New we for boat with a
must a returning saying in said back. adequate dealer will tried sales a to been in is and As will a true consistent be cadence. Pricing I line. not boat have and normal better because and and they shows then, We all are And to year they return Dealers have Marine inventory, ago be need since does in could if environment to techniques lead follow-up. lose. and
while that lower-length more note to important is unphased. entry-level demand retail affected has remain boats, disproportionately our It customers aluminum-based
Speaking because more brands and seeing is models not strong measured really has be comparing and have we seen not for looking market My in are past the rates. for wealth generally are by continuing sustaining we premium and in strong MBI shows conditions there economic over the our continues be past creation the brands interest months. inventory XX three the of or in what purchase to They at household the buyers and years to shortage affected consumer. to stock that conviction been the
and consumer positive our foot business. been in This premium we link is most to weakness us we building rates. are we will objective marine in inflation our top served the has boats. is hearing segments impacted business we so of entry-level That priced existence. and – our smaller improve of our has on by know on Conversely, not a being interest the brands continue remain drive that company well premium and the in profile can model, why Thankfully,
be primary to Meeting building channel and and tailwind a in inventories to continues major a demand come. existing focus quarters the
for as inefficiencies our lead the supplier engine plants. far in greater While prevalent source as environment parts, supply still our base, clockwork. and decreasing windshield of times like Disruptions generating we are have manufacturers from our with chain ability is the electronic seen improvement quantities incremental current and to still running well
these However, ramp our if are to as abate, headwinds volumes, necessary. confident we production ability in up
progress made the mitigate choppy great Charting challenges. we a to course over through these have quarter waters, these
to Our production unit in expect and are for enhancements our the Maverick second boats large output the capacity integration out fiscal climb, Today, of greater volumes vertical building our our more signs boats we and facility, as we more we promising see plant. efforts half of enter continue we and year. this and
chain, to channel near of initiatives be of the for fiscal we customers, in we to our result a improvement varying the demand channel these begun this major degrees. As by across have across all shift end supply inventory a retail normal gradual normalize to Absent the and inventories year. expect freshwater segments
normalized brands levels remain saltwater of due and the Our volumes lower likely XXXX. demand behind to a year fiscal bit will half first and in pent-up further production reach
I acquired. provide update our of will now an businesses we on integration have the
well. know, well fantastic family, performed and path acquired Clair’s. extremely We Cobalt is from As the brand a magnificent has down hopefully you a the St.
We and it tremendously metrics. completely have financial is improved has all modernized The huge almost lineup it the brand, new modern in dividends. paying grown in
space have in to foot about share the from X% in compete largest [ph] We a offerings with compete our the we sterndrive continue we share grown to be manufacturer in at Oblivion we outboard length segment and XX% two market around the number XX% the player link share.
has The has plant a every us XXXX upon addition year as of expand success well that them. built have size Cobalt owned the new build. boats equals the of in Pursuit number to we allowed of the we run. home boat build as the we
models expansion to that grow and significant continue. dealer opportunity the to on the higher An network. higher capitalize and and not driven the them been the margin profiles we see Again, we have area We of is expanded have have yet new we significantly of introduction further. able will
to dealers sufficient channel existing is commitment and expansion. then with supply to first look Our inventory
COVID has current expansion. result, a distribution year throughout our have soon and expanding era. begun adequate dealers delayed the we and and it the begin fiscal to expansion, will As determine Currently, rapidity distribution yet have in expect our we of been how inventory XXXX I the not
have Pursuit of own you come Maverick the is at an the and has this home The of MBG year. their we into fiscal end Hewes really as acquisition And evolution. an Pathfinder, acquired brands, Integration Cobia XXXX. recall, run. very equal Maverick
and first the X efficiency the us more and build really addition to and XXXX, increasing a throughput are matured in adding fiscal Plant additional that larger we step and with have objectives capacity MBG. with having allowed year was Our Those boats. fantastic
we than even chain, are is month. and new supply is expected the demand. almost in we Despite The better records high and Pathfinder shipping new every performing setting product production
but to execute, turned map a have new aggressively will and market will but fiscal in distribution growth. we confident XXXX today Lack home a MBG. attention which have We that equals the we now is is road run are and third a have been further coming to product, well. we yet rounding not able Cobia the we in that are with enhance Pursuit, corner, we as have ball will our share base, year MBG growth and bring triple,
have have great that acquisition expected. best we gone The as of at to than as better integration has we coming our summary, the acquisition and is well even of additional been In expected, all dividends them thing we score more. about
time. and are that acquisitions them, improve a at will we very and premium of any entertain can acquisition asset in We at point integrating good very, we any
fiscal year we position is Malibu second strong tailwinds with business. great across to Overall, as enter again in the the execute our of half a
our are continue As to labor prepared execute to supply our improve, inflationary strategic subside and shortages teams chains pressure lessen, priorities.
and we business our are of the model Our and apart. dealerships And set optimistic strong nature resilient teams, us Operational prowess battle-tested about with our base, future. customer vertically-integrated
take that, call to I over financial the more now our will Wayne performance through detail. With in to turn you
