---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-013560"
form_type: "8-K"
ticker: "MPX"
cik: "0001129155"
company_name: "MARINE PRODUCTS CORP"
filed_at: "2024-10-24T23:59:59+00:00"
generated_at: "2026-05-30T10:21:09.552851+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Marine Products Q3 net sales down 36% to $49.9M; EPS drops to $0.10 from $0.30

## Summary
- Net income fell 67% YoY to $3.4M; diluted EPS was $0.10 vs $0.30 in 3Q:23.
- Gross margin decreased 630 bps to 18.4% on lower volumes and incentive programs.
- EBITDA margin fell 810 bps to 8.6%; EBITDA was $4.3M vs $13.0M in prior year.
- Cash and cash equivalents $53.5M with no debt; regular dividend of $0.14/share declared.
- Management cited soft consumer demand and dealer destocking; production reduced.

## SEC filing metadata
- accession: 0001558370-24-013560
- form_type: 8-K
- ticker: MPX
- cik: 0001129155
- company_name: MARINE PRODUCTS CORP
- filed_at: 2024-10-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1129155/000155837024013560/0001558370-24-013560-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1129155/000155837024013560/mpx-20241024x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-013560
- JSON: https://secwatch.observer/filing/0001558370-24-013560.json
- Plain text: https://secwatch.observer/filing/0001558370-24-013560.txt

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