Welcome to our dedicated page for Marine Products news (Ticker: MPX), a resource for investors and traders seeking the latest updates and insights on Marine Products stock.
Marine Products Corp (MPX) delivers innovative fiberglass powerboats through its Chaparral and Robalo brands, serving recreational and sportfishing markets. This news hub provides investors and industry stakeholders with essential updates about the company's operations and market position.
Access timely press releases covering earnings announcements, product innovations, manufacturing developments, and strategic partnerships. Our curated collection ensures you stay informed about MPX initiatives in marine technology and dealer network expansions without needing to track multiple sources.
Discover updates across key business areas including new boat model launches, quarterly financial results, sustainability initiatives in fiberglass production, and leadership updates. Content is organized for quick scanning while maintaining depth for thorough analysis.
Bookmark this page for convenient access to MPX's latest corporate communications. Check back regularly to monitor how the company navigates evolving marine industry trends through its focused manufacturing strategy and brand-specific market approaches.
Marine Products (NYSE: MPX) reported a challenging second quarter 2024, with net sales decreasing 40% year-over-year to $69.5 million. Net income fell 61% to $5.6 million, with diluted EPS at $0.14. The company faced continued weakness in dealer ordering patterns due to high industry-wide channel inventories and soft consumer demand. Despite these challenges, Marine Products maintains a strong financial position with no debt and over $55 million in cash. The company is responding with cost reduction measures, adjusted production schedules, and retail incentives. Looking ahead, Marine Products is preparing for its 2025 model year launch and Chaparral's 60th anniversary celebration at the upcoming August dealer conference.
Marine Products (NYSE: MPX) will release its Q2 2024 financial results on July 25, 2024, before the market opens. The company will host a conference call the same day at 8:00 a.m. ET to discuss the results. Dial toll-free at (888) 660-6357, or (929) 201-6127 for international callers, with conference ID number 9979064. The call will also be webcast and archived on the company's investor website for 90 days. Marine Products manufactures high-quality fiberglass boats under the Chaparral and Robalo brands and aims to increase market share through product innovation and a strong dealer network. Contact CFO Michael L. Schmit or VP of Investor Relations Mark Chekanow for more information.
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