{"schema_version":"secwatch.filing_event.v1","accession":"0001558370-24-005676","form_type":"8-K","ticker":"MPX","cik":"0001129155","company_name":"MARINE PRODUCTS CORP","filed_at":"2024-04-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:17.385754+00:00","generated_at":"2026-06-03T07:28:50.810016+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Marine Products Q1 sales drop 42%; declares $0.70 special dividend","bullets":["Net sales $69.3M, down 42% YoY; net income $4.6M, diluted EPS $0.13 (down 60% and 62% respectively).","EBITDA $5.9M, down 61%; EBITDA margin 8.5% (down 410 bps); gross margin 20.2% (down 420 bps).","Board declared $0.14 regular quarterly and $0.70 special dividend, both payable June 10, 2024, returning ~$29M.","No debt; cash $81.2M; $20M revolver undrawn; free cash flow $15.0M in Q1.","Management cites higher interest rates and elevated channel inventory; adjusting production and costs."],"urls":{"canonical":"https://secwatch.observer/filing/0001558370-24-005676","json":"https://secwatch.observer/filing/0001558370-24-005676.json","markdown":"https://secwatch.observer/filing/0001558370-24-005676.md","text":"https://secwatch.observer/filing/0001558370-24-005676.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1129155/000155837024005676/0001558370-24-005676-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1129155/000155837024005676/mpx-20240425x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T07:28:50.810016+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":"582c71e649e6d7fb76192b9d2efba67b5661fc89","claim":"MARINE PRODUCTS CORP reported first quarter ended March 31, 2024 results: revenue $69.3 million, net income $4.6 million, EPS $0.13.","evidence_excerpt":"of this earnings release. ​ * All comparisons are year-over-year to 1Q:23 unless stated otherwise. ​ First Quarter 2024 Highlights ​ ● Net sales decreased 42% year-over-year to $69.3 million ● Net income was $4.6 million, down 60% year-over-year, and diluted Earnings Per Share (EPS) was $0.13; net income margin decreased 310 basis points to 6.6% ● Earnings Before","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1129155/000155837024005676/0001558370-24-005676-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2024"},{"label":"Revenue","value":"$69.3 million"},{"label":"Net income","value":"$4.6 million"},{"label":"EPS","value":"$0.13"},{"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"}