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 Corporation (NYSE: MPX) is a manufacturer of fiberglass boats under the Chaparral and Robalo brands, and its news flow centers on financial performance, product developments, and corporate updates. This page aggregates news releases and third-party coverage related to Marine Products, giving investors and observers a single place to review the latest information about the company.
Marine Products frequently issues earnings releases detailing quarterly and annual financial results, including net sales, margins, net income, and non-GAAP measures such as EBITDA, EBITDA margin, and free cash flow. These releases often include management commentary on marine industry demand, dealer inventory levels, production schedules, and macroeconomic factors such as interest rates and tariffs that influence boat sales and financing conditions.
In addition to financial results, Marine Products’ news includes announcements about regular quarterly dividends and, at times, special dividends, reflecting the company’s capital allocation decisions. Corporate governance developments, such as the appointment of independent directors to the Board, are disclosed through press releases and corresponding SEC filings and are also reflected in the news stream.
Product- and brand-related news highlights the Chaparral and Robalo lineups, including new model year introductions, enhancements across the portfolio, and product innovation initiatives. The company also appears in industry-related announcements, such as agreements involving dealer and retail financing for Chaparral and Robalo boats.
By following this news page, readers can monitor Marine Products’ reported results, dividend declarations, board changes, and product announcements over time. The coverage provides context on how the company responds to marine industry conditions, manages its dealer network and inventories, and positions its Chaparral and Robalo brands in the recreational and sport fishing boat markets.
Marine Products Corporation (NYSE: MPX) will release its financial results for Q1 2021 on April 28, 2021, before the market opens. A conference call to discuss these results is scheduled for the same day at 8:00 a.m. ET. The company, known for its fiberglass boats under brands like Chaparral, Robalo, and Vortex, aims to increase market share and provide long-term shareholder value through product innovation and a strong dealer network.
Marine Products Corporation (NYSE: MPX) has declared a 25% increase in its regular quarterly cash dividend from $0.08 to $0.10 per share. This dividend is payable on March 10, 2021 to shareholders of record as of February 10, 2021. The company, known for its fiberglass boats under the brands Chaparral, Robalo, and Vortex, continues to innovate and diversify its product lines, aiming to enhance market share and shareholder value.
Marine Products Corporation (NYSE: MPX) reported a robust fourth quarter for 2020, with net sales of $71.1 million, a significant 47.6% increase from $48.2 million year-over-year, driven by a 27.8% rise in unit sales and a 14.1% uptick in average selling prices. Gross profit rose to $17.4 million, reflecting a 65.7% increase, while net income reached $7 million, up from $3.5 million in Q4 2019. However, full-year net sales declined by 17.9% to $239.8 million, and net income fell to $19.4 million from $28.2 million in the prior year. The company is optimistic about continued consumer interest in boating despite challenges from the pandemic.
Marine Products Corporation (NYSE: MPX) will announce its fourth-quarter financial results for the period ending December 31, 2020, on January 27, 2021, before market opening. Following this, a conference call will take place at 8:00 a.m. Eastern Time to discuss the results. Interested participants can join by calling (833) 968-2235 or (825) 312-2057 internationally, using conference ID 5458273. The call will also be available via webcast for 90 days on the Company’s investor website.
Marine Products Corporation (NYSE: MPX) appointed Patrick J. Gunning to its Board of Directors effective January 1, 2021. Gunning, with a robust background in financial leadership, retired from EY in 2020 after 40 years, where he served as Partner and Southeast Region Leader. He replaces James B. Williams, who has been on the Board since 2001. CEO Richard A. Hubbell expressed optimism regarding Gunning's strategic insights to enhance the company. Marine Products specializes in fiberglass boats, boasting a diverse product line and a strong market position.
Marine Products Corporation (NYSE: MPX) announced the appointment of Susan Bell to its Board of Directors, effective January 1, 2021. Bell brings over 36 years of public accounting experience from Ernst and Young, where she held leadership positions and advised on various financial matters. She fills a vacancy left by Bill Dismuke, who served on the board since 2005. The company continues to focus on product innovation and market growth, leveraging its premium brands and strong dealer network to boost long-term shareholder value.
Marine Products Corporation (NYSE: MPX) announced a quarterly cash dividend of $0.08 per share and a special year-end cash dividend of $0.04 per share. Both dividends will be paid on December 10, 2020, to stockholders on record as of November 10, 2020. The company, a leader in manufacturing fiberglass boats under brands like Chaparral and Robalo, is focused on product innovation and market expansion to enhance shareholder value.
Marine Products Corporation (NYSE: MPX) reported third-quarter 2020 results with net sales of $68.8 million, down 4.8% from $72.2 million year-over-year, attributed to a 10.4% drop in unit sales, partially offset by a 7.8% rise in average selling prices. Gross profit increased by 3.1% to $16.2 million, with a gross margin of 23.6%. Operating profit fell 14% to $8.35 million, while net income decreased by 16.8% to $6.54 million. The effective tax rate rose to 21.8%. The company noted a strong consumer demand for recreational boating amid the COVID-19 pandemic and plans to evaluate production increases.
Marine Products Corporation (NYSE: MPX) announced it will release its financial results for Q3 2020 on October 28, 2020, before the market opens. A conference call will follow at 8:00 a.m. ET to discuss these results. As a leading manufacturer of fiberglass boats, Marine Products operates under the brands Chaparral, Robalo, and Vortex. The company emphasizes product innovation and has a robust dealer network, positioning it for growth and long-term shareholder value.
Marine Products Corporation (NYSE: MPX) announced the purchase of 97,940 shares as part of its share repurchase program during Q3 2020. The company is recognized for its fiberglass boats, marketed under brands like Chaparral, Robalo, and Vortex. Marine Products aims to enhance market share and shareholder value through product innovation and a robust dealer network, positioning itself for superior financial performance. This buyback may signal confidence in the company's financial health and commitment to returning value to investors.