Shares of Malibu Boats (MBUU) tumbled 11.44% in pre-market trading on Thursday following the company's fourth-quarter earnings release that fell short of analyst expectations and provided a disappointing outlook for the upcoming fiscal year.

The recreational powerboat manufacturer reported adjusted earnings per share of $0.42 for the fourth quarter, missing the consensus estimate of $0.46. Despite the earnings miss, Malibu Boats posted better-than-expected revenue of $207 million, surpassing analysts' projections of $195.28 million.

However, the company's forward-looking guidance appears to have spooked investors. For fiscal year 2026, Malibu Boats anticipates net sales to be flat to down mid-single digits year-over-year, signaling potential challenges in the recreational boating market. This cautious outlook, combined with the earnings miss, likely contributed to the sharp pre-market decline.

The pre-market plunge reflects investor concerns about Malibu Boats' near-term growth prospects and profitability. As the market digests this information, traders will be closely watching how the stock performs throughout the regular trading session and whether the company can provide any additional context to allay investor worries about its future performance.