Marine Products Stock Price, News & Analysis

Marine Products Corporation (NYSE: MPX) will present at the Southwest IDEAS Investor Conference in Dallas on November 18, 2021, at 4:00 PM ET. The presentation will cover a corporate overview, product highlights, and recent financial results. Access to management's remarks and presentation slides will be available in real-time on MarineProductsCorp.com and archived for 90 days. Marine Products Corporation is known for manufacturing high-quality fiberglass boats under the brands Chaparral and Robalo.

Marine Products Corporation (NYSE: MPX) has declared a quarterly cash dividend of $0.12 per share, payable on December 10, 2021. This dividend will benefit common stockholders of record by the close of business on November 10, 2021. As a leading manufacturer of fiberglass boats, including brands like Chaparral and Robalo, the company continues to diversify its product lines and leverage its robust dealer network. This financial move reflects Marine Products Corporation's commitment to enhancing shareholder value.

Marine Products Corporation (NYSE: MPX) reported Q3 2021 net sales of $75.84 million, up 10.3% from the prior year. Unit shipments increased by 5.3%, driven by strong demand for Chaparral SSi models. However, gross profit decreased to $16.04 million, with a margin drop to 21.2% due to rising costs and production inefficiencies related to supply chain issues. Net income slightly rose to $6.69 million, resulting in $0.20 diluted EPS. The company anticipates improved cash flow as critical supply issues ease while transitioning to higher-priced 2022 models in Q4.

Marine Products Corporation (NYSE: MPX) has announced its third-quarter financial results will be released on October 27, 2021, before the market opens. A conference call to discuss the results will follow at 8:00 a.m. Eastern Time on the same day. The company, known for its premium fiberglass boats under the Chaparral and Robalo brands, continues to innovate in product offerings to enhance market share and shareholder value. Interested parties can access the call via telephone or through a webcast.

Marine Products (NYSE: MPX) reported a significant 64.8% increase in net sales for Q2 2021, reaching $67.26 million, driven by a 58.8% rise in units sold. Gross profit soared 86.5% year-over-year, totaling $14.61 million, with a gross margin improvement to 21.7%. Operating profit increased 255% to $7.36 million, and net income rose 239.4% to $5.79 million. While demand remains strong, challenges include supply chain disruptions impacting production. The company anticipates these issues to lessen in the near term.

Marine Products Corporation (NYSE: MPX) announced a quarterly cash dividend of $0.12 per share, payable on September 10, 2021. To qualify, investors must hold shares at the close of business on August 10, 2021. The company, recognized for its premium fiberglass boats under brands like Chaparral and Robalo, emphasizes product innovation and market share growth. With a strong capital structure and dealer network, Marine Products aims to enhance long-term shareholder value.

Marine Products Corporation (NYSE: MPX) will release its Q2 2021 financial results on July 28, 2021, before market opening. A conference call to discuss these results will also occur on the same day at 8:00 a.m. ET. The company, known for its brands Chaparral and Robalo, focuses on manufacturing fiberglass boats and aims to enhance market share through product innovation and a robust dealer network. Interested parties can join the call by dialing (833) 968-2235 or accessing the webcast on the investor website.

Marine Products Corporation (NYSE: MPX) announced a 20% increase in its quarterly cash dividend, raising it from $0.10 to $0.12 per share. This dividend is payable on June 10, 2021, to shareholders of record by May 10, 2021. The company, known for its fiberglass boats under the Chaparral, Robalo, and Vortex brands, emphasizes its commitment to increasing market share and generating long-term shareholder value through product innovation and a solid capital structure.

Marine Products Corporation (NYSE: MPX) reported a net sales increase of 32.6% to $78.4 million for Q1 2021, compared to $59.1 million in Q1 2020. This growth is driven by a 17.9% rise in units sold and a 15.5% increase in average selling price. Gross profit surged 52.5% to $18.5 million, with gross margin improving to 23.6%. Operating profit jumped 106.5% to $10 million, while net income increased 92.4% to $8.1 million, resulting in diluted EPS of $0.24. However, supply chain disruptions may affect future production.