{"schema_version":"secwatch.filing_event.v1","accession":"0001558370-24-000492","form_type":"8-K","ticker":"MPX","cik":"0001129155","company_name":"MARINE PRODUCTS CORP","filed_at":"2024-01-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:23.472422+00:00","generated_at":"2026-06-06T17:39:05.240503+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Marine Products Q4 net sales down 35% to $70.9M; EPS $0.16 vs $0.35 YoY","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001558370-24-000492","json":"https://secwatch.observer/filing/0001558370-24-000492.json","markdown":"https://secwatch.observer/filing/0001558370-24-000492.md","text":"https://secwatch.observer/filing/0001558370-24-000492.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1129155/000155837024000492/0001558370-24-000492-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1129155/000155837024000492/mpx-20240125x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T17:39:05.240503+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"81b0962cf88ac179634841e7d3b8bfeaabd35b60","claim":"MARINE PRODUCTS CORP reported the full year ended December 31, 2023 results: revenue $383.7 million, net income $41.7 million, EPS $1.21.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1129155/000155837024000492/0001558370-24-000492-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the full year ended December 31, 2023"},{"label":"Revenue","value":"$383.7 million"},{"label":"Net income","value":"$41.7 million"},{"label":"EPS","value":"$1.21"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"c4fe6cfb28e9c8fbffdadebabb678494d988868a","claim":"MARINE PRODUCTS CORP reported the fourth quarter ended December 31, 2023 results: revenue $70.9 million, net income $5.4 million, EPS $0.16.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1129155/000155837024000492/0001558370-24-000492-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fourth quarter ended December 31, 2023"},{"label":"Revenue","value":"$70.9 million"},{"label":"Net income","value":"$5.4 million"},{"label":"EPS","value":"$0.16"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}