---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-049885"
form_type: "8-K"
ticker: "MPX"
cik: "0001129155"
company_name: "MARINE PRODUCTS CORP"
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T11:50:48.112408+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-049885
- form_type: 8-K
- ticker: MPX
- cik: 0001129155
- company_name: MARINE PRODUCTS CORP
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1129155/000110465923049885/0001104659-23-049885-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1129155/000110465923049885/tm2313722d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-049885
- JSON: https://secwatch.observer/filing/0001104659-23-049885.json
- Plain text: https://secwatch.observer/filing/0001104659-23-049885.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1129155/000110465923049885/0001104659-23-049885-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.