Marine Products Q4 net sales down 35% to $70.9M; EPS $0.16 vs $0.35 YoY

MARINE PRODUCTS CORP

2023-FY EPS reported $1.21 revenue$383,729,000

Net sales $70.9M (-35% YoY); boats sold down 34%; net income $5.4M (-54% YoY); diluted EPS $0.16.
Full-year net sales $383.7M (+1% YoY); net income $41.7M (+3% YoY); diluted EPS $1.21.
EBITDA $6.5M (-58% YoY); EBITDA margin 9.2% (down 490 bps); gross margin 19.0% (down 620 bps).
Cash $72.0M, debt-free; $20M revolver undrawn; regular quarterly dividend $0.14/share declared, payable March 11, 2024.
Management cites normalization of post-COVID demand, higher interest rates, and dealer de-stocking; production reduced to align with demand.

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 0.9

MARINE PRODUCTS CORP reported the full year ended December 31, 2023 results: revenue $383.7 million, net income $41.7 million, EPS $1.21.

Period: the full year ended December 31, 2023
Revenue: $383.7 million
Net income: $41.7 million
EPS: $1.21
Result: reported results

Exact text from the filing

Net sales increased 1% year-over-year to $383.7 million ● Net income was $41.7 million, up 3% year-over-year, and diluted EPS was $1.21

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MARINE PRODUCTS CORP reported the fourth quarter ended December 31, 2023 results: revenue $70.9 million, net income $5.4 million, EPS $0.16.

Period: the fourth quarter ended December 31, 2023
Revenue: $70.9 million
Net income: $5.4 million
EPS: $0.16
Result: reported results

Exact text from the filing

Net sales decreased 35% year-over-year to $70.9 million ● Net income was $5.4 million, down 54% year-over-year, and diluted earnings per share (EPS) was $0.16

View on SEC.gov

51 earnings releases filed in the last 30 days. Browse all earnings releases →

MARINE PRODUCTS CORP filing history →

Source: SEC EDGAR

accession 0001558370-24-000492

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.