all the you thank and for David, you, call. joining Thank
acknowledge Wayne's will be Before begin, earnings I for wanted to we call that MBI. this final
Wayne played him. team's executing our around while as ability missed, be built David interim expect. time, tremendous in For supporting growth. the strategic but an in has basis, integral will the He stakeholders ship come to confidence And a our and our our XX same leads navigate the he have deeply deliver nearly to an to on continue years, results team utmost that at strong have has the vision, I role
of him his this On Malibu, at wish behalf everyone we the of during next best career. stage
Turning of our performance, quarter, record brands. margin we normalize pressures for as within extended inventories despite our record track Freshwater third strong sales modest to and another delivering volumes the
very evolve to in demand. to continues environment our uncertainty, we macroeconomic the remain to retail and ability execute While confident create and match wholesale
During have improving seen production inventories. great and lingering resilient steady in supply chain make Saltwater we our the our to strides all and normalizing segment, demand in while in of continuing quarter, pace improvements dealer disruptions
in weave this no and any different. dodge quarter to how environment, knows team Our and was
we position unique and are in are increase on our to the advance clear innovation, times, at a capacity executing. vertical have choppy We we while our which be may a initiatives. integration strategy our waters And deliver
increasing $XX.X million, of of income posted million and adjusted year quarter, we third $XX.X the net sales with X% prior over fiscal EBITDA the record For of $XXX million. net
Access our during higher-margin softening of quarter, channel Malibu volumes the we balance. seen within As expected have correct inventories as segment reach a the
EBITDA declined points margin a to XX.X%, As declined points basis basis result, XX.X%. XXX to gross adjusted margin XXX while
of in behind. far not Malibu for Channel inventories are while is schedule, ahead particular Cobalt
is lineup launch season. upcoming made the prime ready we model progress and the on are the dealers filling of selling way our Freshwater the despite channels, our have heading year However, standing new into
been demand board our levels from November for also at reaching includes and York, monsoon Fort our the had segment. Cobia strong Beach This shows throughout the peak the segment larger superb had Palm this Pathfinder in showings show season, our Miami in has in shows Lauderdale exceptionally historic strong April. Saltwater across New boat supporting Meanwhile, position performance within to shows. leadership also and City. in Atlantic growing Pursuit
heading category, levels. behind into our Freshwater fiscal the optimistic Overall, and room half Saltwater stand inventory quite of several reaching this fill segment in our remain we weeks Freshwater in have brands, normalized 'XX. this compared the Dealers additional to to first channel brands
were the Given channel the to optimum about inventory point Pursuit Pathfinder followed see totaled profile, hurricane. the my Ian. will yet this as not we to of levels. very have believe of replacement while result brand growth begun of to our the boats Cobia, be pent-up XX,XXX related a by to Pursuit's demand, closer that grow as boats dealers at Further Hurricane being our it has estimated has strong Many most been significant to room is
has stand spring remains be these the fully understand this be a to will replacement quarter demand uncertain, timing a important through this of headwind orders. due ready through The to is precipitation. and will fulfill of While and the cool next to point the to summer. we been cycle few lots what weeks Weather retail
and from weather, retail. hearing is pattern are begun weather we to dealers see warm that the just alleviating, drive the to weather beginning needed have warm We
A facility of only of our our there. brands our at ramped-up the pace successful driven but Group over prime have of organically success investing has a our years Boat the acquisition tried-and-true the to market and been with tremendous NBG our Maverick expansion commitment in integrating and of showcasing by example through either running industry-leading the premium is brands we operations. the also model made not the business, in progress leadership Our or acquisitions. within
Today is no different.
integration manufacturing distribution network constantly we to for to excited footprint, some transformative the am MBI, our foot growth continue key to We ways vertical have are our bring on looking our increase in-house. strategic from I grow new our expand to and developments. a At gas capabilities speak standpoint. capacity,
plus first successful we our on and with vertical that out TDC. of integration plant needs build the our been launched a property. is begin available Pursuit I and endeavor multiyear Pursuit large new March there. initiative of The focus on will or bring part huge tooling officially center XXX,XXX TDC very This square-foot design will our a in-house. plan has to X, tooling On product tooling tooling a
this we look volumes. quality excited as very are about expenditures, and our the improve increase to We tooling brings potential capital better control MBI to
and our tooling capabilities start to goal ultimate tooling with strong expanding charge for all plan to lead a Pursuit of have majority eventually We team MBI the place in all there for brands. of the the building
to for such that, this best for our providing existing position the be adequate us Tennessee. premium us growth, an X-K build segments a capacity market and to optionality This We purchase plans XXX,XXX-plus of mix gives expansion property filed the our into the purchase diversifying other greenfielding in out always to brands flexibility Secondly, high-growth ahead. turns. MBI does pontoons, with whether into our foot facility in facility, as just square have headquarters the near to want tide opportunities located we recently added or with strategically in long-term which wherever growth for through grow is with capacity line
the starting XXXX, that of the of quarter will to very many development have years, you our about and monsoon exciting asked one in another begin customers. first sterndrive we Cobalt dealers And offering and engines over fiscal
Monsoon plan our continue engines in As XXXX, surf we the rollout Cobalt fiscal move of we into the to second boats. half of the
move the As triple-digit return over margin enhance the we years, our potential generate profile has we to on and further this scale this next strong believe investment. EBITDA few a
and -- market our continue environment. adapt well to hand throttle adapt Comprehensively, have well tide-turning in the we kept and on a
recreational Our strong as have and excellence manufacturer. vertically operational cemented model integrated premier footing boats the our
the successful another confident year. I growth. of to forward am look we We the steps horizon, for across to our way as leg look pave taken we the have the in next And delivering
will now financial the more With turn to our in take to call detail. that, over performance you I through David
