secwatch.observer — SEC 8-K summary
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Issuer:     MARINE PRODUCTS CORP (MPX)
CIK:        0001129155
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0001558370-24-000492
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1129155/000155837024000492/0001558370-24-000492-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1129155/000155837024000492/mpx-20240125x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-000492

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