Marine Products delivered strong Q4 2025 revenue growth driven by higher boat sales and pricing, but profitability declined year over year due to higher operating expenses and tax impacts, resulting in lower net income and margins.

Marine Products Corporation experienced an increase in net sales and gross profit in the third quarter of 2025 compared to the prior year, driven by price/mix increases and improved manufacturing cost absorption. However, net income, diluted EPS, and EBITDA declined due to higher selling, general and administrative expenses, including increased R&D investments and warranty costs.

Marine Products Corporation experienced a challenging first quarter in 2025 with a 15% decrease in net sales and a 52% decline in net income year-over-year, primarily due to continued demand softness in the marine industry and macroeconomic uncertainties. Despite the downturn, the company maintained a strong balance sheet with significant cash reserves and no debt, and generated strong operating cash flow.

Marine Products Corporation reported a decrease in net sales by 33% year-over-year to $47.8 million. Net income decreased by 21% year-over-year to $4.3 million, with diluted EPS at $0.12. The net income margin increased to 8.9% due to favorable tax items.

Marine Products Corporation reported a 36% decrease in net sales to $49.9 million and a 67% decrease in net income to $3.4 million for Q3 2024. The results reflected continued weakness in dealer ordering patterns given soft consumer demand. The company ended the quarter with approximately $54 million in cash and no debt.

Marine Products Corporation reported a decrease in net sales by 40% to $69.5 million and a net income decrease of 61% to $5.6 million. EPS also decreased to $0.14 compared to $0.42 in the same quarter last year. The company is facing challenges due to high dealer inventory and soft consumer demand.

Marine Products Corporation reported a decrease in net sales by 42% to $69.3 million and a decrease in net income by 60% to $4.6 million in Q1 2024. The company faced softer consumer demand and higher interest rates, impacting dealer ordering patterns and retail sell-through.

Marine Products Corporation reported a decrease in net sales by 35% to $70.9 million and a decrease in net income to $5.4 million for Q4 2023. EPS was $0.16. The results reflect a normalization of retail demand following a strong period of post-COVID sales.

Marine Products Corporation reported a decrease in net sales and net income for the third quarter of 2023 compared to the prior year, primarily due to lower boat sales volume. Production was adjusted to align with current demand and was impacted by severe weather. However, dealer inventories are reasonable, and the company has firm production scheduled into 2024.

Marine Products Corporation reported a 21% increase in net sales to $116.2 million and a 44% increase in net income to $14.3 million for the second quarter of 2023. The increase in net sales was due to an 11% increase in the number of boats sold and a 10% increase in the average selling price per boat.

Marine Products Corporation reported record quarterly net sales of $118.9 million, a 55% increase compared to the same quarter of the prior year. The increase was driven by a 40% increase in boats sold and a 12% increase in the average selling price per boat. Net income for the quarter was $11.5 million, a 64% increase compared to the prior year.

Marine Products Corporation reported record fourth-quarter net sales of $108.5 million, a 42% increase compared to the prior year. Net income also reached a record $11.9 million, a 40% increase year-over-year, driven by a rise in boat sales and average selling prices.

Marine Products Corporation reported record quarterly net sales of $100.1 million, a 32 percent increase compared to the same quarter of the prior year. The increase in net sales was due to a 33 percent increase in the average selling price per boat. Net income for the third quarter of 2022 was a record $11.5 million, an increase of 72 percent compared to net income of $6.7 million in the third quarter of 2021.

Marine Products Corporation reported a strong second quarter with net sales increasing by 42% and net income increasing by 72% compared to the same period last year. The increase in net sales was primarily due to a 22 percent increase in the average selling price per boat and a 15 percent increase in the number of boats sold.

Marine Products Corporation reported a decrease in net sales for Q1 2022, primarily due to lower boat sales volume, although this was partially offset by increased average selling prices. Gross profit was comparable to the previous year, but operating profit and net income saw declines. The company faced ongoing supply chain challenges that impacted production and delivery.

Marine Products Corporation reported a 7.6% increase in net sales and a 20.8% increase in net income for the fourth quarter of 2021 compared to the same period in the prior year. The increase in net sales was primarily driven by a 21.1% increase in the average selling price per boat, while unit sales decreased by 11.1%.

Marine Products Corporation reported a 10.3% increase in net sales for the third quarter of 2021, driven by a 5.3% increase in unit shipments. Despite supply chain difficulties, the company maintained profitability, with net income slightly increasing compared to the prior year.

Marine Products Corporation announced strong second-quarter results with a 64.8% increase in net sales and a 239.4% increase in net income compared to the same period last year. The company benefited from high demand for its products and improved manufacturing efficiencies, although supply chain disruptions posed challenges.

Marine Products Corporation reported a strong first quarter in 2021, with significant increases in net sales, gross profit, and net income compared to the same period last year. The company benefited from higher unit sales and average selling prices, reflecting continued strong interest in recreational boating.

Marine Products Corporation reported a strong fourth quarter with a 47.6% increase in net sales, driven by higher unit sales and average selling prices. Gross profit and operating profit also saw significant increases, leading to a rise in net income and diluted earnings per share.

Marine Products Corporation reported a decrease in net sales by 4.8% due to a reduction in unit sales, but this was partially offset by a 7.8% increase in the average selling price per boat. Gross profit increased by 3.1%, driven by a favorable model mix. However, operating profit and net income decreased due to higher selling, general, and administrative expenses.

Marine Products Corporation reported a significant decrease in net sales, gross profit, and operating profit for the quarter ended June 30, 2020, due to a temporary suspension of manufacturing operations. Despite the decrease in sales, the average selling price per boat increased due to a favorable model mix. The company is working to increase production to meet higher dealer and consumer demand.

Marine Products Corporation reported a decrease in net sales of 28.8% and a decrease in net income of 43.7% for the quarter ended March 31, 2020. The decline was attributed to a decrease in unit sales across most product categories and manufacturing cost inefficiencies.

Marine Products Corporation reported a decrease in net sales, gross profit, operating profit, and net income for the quarter ended December 31, 2019, compared to the same period of the prior year, primarily due to lower unit sales and adjustments to production levels.