MasterCraft Boat Holdings, Inc. Announces New $50 Million Share Repurchase Program
“MasterCraft maintains a disciplined and thoughtful approach to capital allocation, and the Board’s authorization of a share repurchase program reflects the confidence we have in our company, our growth strategy, our comprehensive portfolio of brands, and our ability to execute on what we believe to be a tremendous opportunity before us,” said
The timing and amount of any share repurchases will be determined by MasterCraft’s management at its discretion based on ongoing assessments of the capital needs of the business, the market price of MasterCraft’s common stock and general market conditions. Share repurchases under the program may be made through a variety of methods, which may include open market purchases, accelerated share repurchases, tender offers, privately negotiated transactions or otherwise. The program does not obligate MasterCraft to acquire any particular amount of its common stock, and the share repurchase program may be suspended or discontinued at any time at the Company’s discretion.
The new credit agreement was led by
This press release includes forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Forward-looking statements can often be identified by such words and phrases as “believes,” “anticipates,” “expects,” “intends,” “estimates,” “may,” “will,” “should,” “continue” and similar expressions, comparable terminology or the negative thereof, and include statements in this press release concerning the future prospects of our business and our ability to drive value creation and growth.
Forward-looking statements are subject to risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including, but not limited to: the potential effects of the coronavirus (COVID-19) pandemic on the Company, supply chain disruptions, general economic conditions, demand for our products, changes in consumer preferences, competition within our industry, our reliance on our network of independent dealers, our ability to manage our manufacturing levels and our large fixed cost base, changes to
Any such forward-looking statements represent management's estimates as of the date of this press release. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. We undertake no obligation (and we expressly disclaim any obligation) to update or supplement any forward-looking statements that may become untrue or cause our views to change, whether because of new information, future events, changes in assumptions or otherwise. Comparison of results for current and prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.
Chief Revenue Officer
Source: MasterCraft Boat Holdings, Inc.