MasterCraft Boat Holdings, Inc.

Ladies and gentlemen, thank you for standing by, and welcome to the Mastercraft Boat Holdings Fiscal Second Quarter 2026 Earnings Conference Call. Please be advised that today's conference is being recorded. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question... please press star 1-1 again. I would now like to hand the conference over to your speaker today, Alec Harmon, Director of Strategy and Investor Relations. Please go ahead, sir.

Thank you, Operator, and welcome, everyone. Thank you for joining us today as we discuss Mastercraft's fiscal second quarter performance for 2026. As a reminder, today's call is being webcast live and will also be archived on our website for future listening. With me on this morning's call is Brad Nelson, Chief Executive Officer, and Scott Kent, Chief Financial Officer. We will begin with a summary of our second quarter results, followed by an overview of the transaction we announced this morning with Marine Products Corporation. There is a slide deck summarizing our financial results, as well as the transaction in our investor section of our website, which we will reference throughout today's call. Following prepared remarks, we will open the line for questions. Before we begin, We would like to remind participants that this information contained in this call is current only as of today, February 5th, 2026. The company assumes no obligation to update any statements, including forward-looking statements. Statements that are not historical facts are forward-looking statements and subject to the safe harbor disclaimer in today's press release. Additionally, on this conference call, we will discuss non-GAAP measures that include or exclude items not indicative of our ongoing operations. For each non-GAAP measure, we also provide the most directly comparable GAAP measure in today's press release, which includes a reconciliation of these non-GAAP measures to our GAAP results. As a reminder, unless otherwise noted, the following commentary is made on a continuing operations basis, and all references to specific quarters and periods will be on a physical basis. Today's outlook also excludes any impact from the combination with Marine Products Corporation. With that, I will turn the call over to Brad.

Thank you, Alec, and good morning, everyone. Today marks an important step in our company's journey. Alongside our strong second quarter results, we're excited to announce that Mastercraft Boat Holdings has entered into a definitive agreement to combine with Marine Products Corporation, a move that strengthens our marine platform through complementary market-leading brands and an expanded dealer network in a more capable, Advanced Product Development and Manufacturing Platform. I'll share more details about the combination in a moment. First, we'll start with our second quarter results. We delivered results that exceeded our expectations, and we are building momentum as we head into boat shows and the spring selling season. We're entering this window with right-sized dealer inventories and a team that continues to deliver on key initiatives, bringing leading-edge innovation to market, executing on operational and cost efficiencies, and maintaining disciplined production management. As always, I want to thank each of our team members and our dealers for their focus and execution as we carry this momentum into the back half of the fiscal year. Now turning to results. Q2 net sales increased $8.4 million, or 13% year-over-year, and adjusted EBITDA rose nearly $4 million, a margin improvement of approximately 480 basis points. This year's progress and performance is a direct outcome of our continued innovation and focused execution. As a result, we are raising our full-year guidance for net sales, earnings, and adjusted earnings per share, which Scott will cover shortly. Due to our balanced approach to dealer health, Pipeline inventory levels ended the quarter 25% improved from prior year. While we have yet to see sustained breakout in consumer demand, our early boat show engagement and dealer feedback have been encouraging. We have not changed our original full-year assumption of retail being down 5% to 10%. However, recent trends are tracking toward the better end of that range for our Mastercraft segment. While we are encouraged by our Q2 retail results, we remain grounded in our flexible operating model, which allows us to optimize across a range of possible demand scenarios. Turning to our brands. Within Mastercraft, momentum continues to build across the portfolio as we usher in the next generation of premium products with high margins and advanced technology, continuing our mission of bringing luxury, performance, and precision to the forefront of our lineup. Early boat show results have been encouraging, with particularly strong engagement at the Salt Lake City, Atlanta, Toronto, Cincinnati, and Kansas City shows to date. Introduced recently, the completely redesigned X-24 and X-Star are are leading our boat show presence and generating strong demand signals across the network. Building on that momentum, we recently announced the all-new X22, which broadens choice within the X product family, bringing the same premium experience to a more compact offering. Feedback on recent models has been positive, and we expect the X family to improve product mix through the back half of the year. Turning to our pontoon segment, we are executing with discipline, delivering year-over-year operational improvements, enhancing margin performance, and sharpening our pipeline. We continue to align the business to current conditions, positioning the segment for sustainable growth through assertive actions, including portfolio enhancement, leadership changes, and boosting dealer support. Our luxury pontoon brand, Belize, extended its reach this year with the all-new Halo model, which is making its debut at upcoming boat shows. Now I'll hand it to Scott to review the quarter's financials and forward guidance, after which I will provide more details on the Marine Products Corporation transaction.