Marine Products Q1 net sales record $118.9M, +55% YoY; EPS $0.34 +62%

MARINE PRODUCTS CORP

2023-Q1 EPS reported $0.34 revenue$118,914,000

Revenue $118.9M (+55% YoY); diluted EPS $0.34 (up 62% from $0.21).
Unit sales up 40%; avg selling price up 12% on favorable model mix.
Net income $11.5M (+64%); operating profit $14.5M (+58%) incl $2.1M pension settlement charge.
EBITDA $15.0M (+56%); gross margin 24% flat vs prior year.
CEO notes dealer inventories normalizing but still below pre-pandemic; cautious on macro headwinds.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MARINE PRODUCTS CORP reported first quarter ended March 31, 2023 results: revenue $118.9 million, net income $11.5 million, EPS $0.34.

Period: first quarter ended March 31, 2023
Revenue: $118.9 million
Net income: $11.5 million
EPS: $0.34
Result: reported results

Exact text from the filing

boats, which include center consoles, dual consoles and Cayman Bay Boat models. For the quarter ended March 31, 2023, Marine Products generated record quarterly net sales of $118.9 million, a 55 percent increase compared to $76.6 million in the same quarter of the prior year. The increase in net sales was due to a 40 percent increase in the number of boats sold

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Source: SEC EDGAR

accession 0001104659-23-049885

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