---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-111233"
form_type: "8-K"
ticker: "MPX"
cik: "0001129155"
company_name: "MARINE PRODUCTS CORP"
filed_at: "2023-10-25T23:59:59+00:00"
generated_at: "2026-06-09T09:51:43.332212+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Marine Products Q3 net sales down 22% to $77.8M; EPS $0.30 vs $0.34

## Summary
- Net sales $77.8M vs $100.1M YoY; boat units down 24%, average selling price up 5%.
- Net income $10.4M ($0.30 diluted EPS) vs $11.5M ($0.34); net margin improved to 13.4% from 11.5%.
- Gross profit $19.2M (24.7% margin) vs $25.0M (25.0% margin); operating income $12.4M, down 15%.
- SG&A $8.8M, down from $10.3M; includes $1.8M real estate gain in other income.
- CEO cites demand normalization and Hurricane Idalia impact; dealer inventories reasonable with production scheduled into 2024.

## SEC filing metadata
- accession: 0001104659-23-111233
- form_type: 8-K
- ticker: MPX
- cik: 0001129155
- company_name: MARINE PRODUCTS CORP
- filed_at: 2023-10-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1129155/000110465923111233/0001104659-23-111233-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1129155/000110465923111233/tm2329060d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-111233
- JSON: https://secwatch.observer/filing/0001104659-23-111233.json
- Plain text: https://secwatch.observer/filing/0001104659-23-111233.txt

## Key facts
- Earnings Releases
  MARINE PRODUCTS CORP reported quarter ended September 30, 2023 results: revenue $77.8 million, net income $10.4 million, EPS $0.30.
  - Period: quarter ended September 30, 2023
  - Revenue: $77.8 million
  - Net income: $10.4 million
  - EPS: $0.30
  - Result: reported results
  source text: For the quarter ended September 30, 2023, Marine Products generated net sales of $77.8 million, a 22 percent decrease compared to $100.1 million in the third quarter of the prior year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1129155/000110465923111233/0001104659-23-111233-index.htm

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