secwatch.observer — SEC 8-K summary
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Issuer:     MARINE PRODUCTS CORP (MPX)
CIK:        0001129155
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0001558370-24-010103
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marine Products Q2 EPS $0.14, net sales $69.5M (-40% YoY), net income -61%
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- Net sales $69.5M, down 40% YoY; net income $5.6M, down 61%; diluted EPS $0.14, down from $0.42.
- EBITDA $6.5M, down 62%; EBITDA margin 9.3%, down 540 bps.
- Declared regular quarterly dividend of $0.14 per share, payable Sept 10, record Aug 9.
- Cash $55.1M, no debt; free cash flow $18.1M YTD; management cites high dealer inventory and weak demand.
- Gross margin 18.9%, down 580 bps due to lower volumes and reinstitution of retail incentives.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1129155/000155837024010103/0001558370-24-010103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1129155/000155837024010103/mpx-20240725x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-010103

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