---
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"
generated_at: "2026-06-06T17:39:05.240503+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-000492
- JSON: https://secwatch.observer/filing/0001558370-24-000492.json
- Plain text: https://secwatch.observer/filing/0001558370-24-000492.txt

## Key facts
- Earnings Releases
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1129155/000155837024000492/0001558370-24-000492-index.htm
- Earnings Releases
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1129155/000155837024000492/0001558370-24-000492-index.htm

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