---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-084012"
form_type: "8-K"
ticker: "MPX"
cik: "0001129155"
company_name: "MARINE PRODUCTS CORP"
filed_at: "2023-07-26T23:59:59+00:00"
generated_at: "2026-06-13T02:13:31.458774+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Marine Products Q2 net sales up 21% to $116.2M; EPS rises 45% to $0.42

## Summary
- Net sales $116.2M, up 21% YoY; unit sales +11%, avg selling price +10%.
- Net income $14.3M ($0.42 diluted EPS) vs $10.0M ($0.29), up 44% and 45% respectively.
- Gross margin improved to 24.7% from 24.0%; operating profit $16.5M, up 26%.
- Six-month net sales $235.1M, net income $25.9M ($0.75 diluted EPS) vs $17.0M ($0.50) prior year.
- Effective tax rate dropped to 16.8% from 24.0% due to favorable permanent and discrete adjustments.

## SEC filing metadata
- accession: 0001104659-23-084012
- form_type: 8-K
- ticker: MPX
- cik: 0001129155
- company_name: MARINE PRODUCTS CORP
- filed_at: 2023-07-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1129155/000110465923084012/0001104659-23-084012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1129155/000110465923084012/tm2322016d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-084012
- JSON: https://secwatch.observer/filing/0001104659-23-084012.json
- Plain text: https://secwatch.observer/filing/0001104659-23-084012.txt

## Key facts
- Earnings Releases
  MARINE PRODUCTS CORP reported the quarter ended June 30, 2023 results: revenue $116.2 million, net income $14.3 million, EPS $0.42.
  - Period: the quarter ended June 30, 2023
  - Revenue: $116.2 million
  - Net income: $14.3 million
  - EPS: $0.42
  - Result: reported results
  source text: For the quarter ended June 30, 2023, Marine Products generated net sales of $116.2 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1129155/000110465923084012/0001104659-23-084012-index.htm
- Earnings Releases
  MARINE PRODUCTS CORP reported the six months ended June 30, 2023 results: revenue $235.1 million, net income $25.9 million, EPS $0.75 diluted earnings per share.
  - Period: the six months ended June 30, 2023
  - Revenue: $235.1 million
  - Net income: $25.9 million
  - EPS: $0.75 diluted earnings per share
  - Result: reported results
  source text: Net sales for the six months ended June 30, 2023 were $235.1 million, an increase of 36 percent compared to the first six months of 2022. Net income for the six-month period was $25.9 million or $0.75 diluted earnings per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1129155/000110465923084012/0001104659-23-084012-index.htm

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