Marine Products ( (MPX) ) has released its Q4 earnings. Here is a breakdown of the information Marine Products presented to its investors.
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Marine Products Corporation is a prominent manufacturer in the boating industry, specializing in high-quality fiberglass boats under renowned brands like Chaparral and Robalo, with a focus on product innovation and a strong independent dealer network. In its recent earnings report, the company revealed a challenging year with a notable decrease in sales and income for both the fourth quarter and full year 2024. The fourth quarter saw a 33% decline in net sales to $47.8 million, while full-year sales dropped 38% to $236.6 million. Despite these challenges, the company maintained a stable EBITDA margin and ended the year with a robust cash position of $52.4 million and no debt. Strategic measures, such as cost control and production adjustments, helped mitigate the softer order flow experienced throughout 2024. The company managed to support dividend payments, including a significant mid-year special dividend. Looking forward, Marine Products anticipates more stable sales comparisons and potential growth in the latter half of 2025, backed by positive feedback from recent boat shows and strategic product launches for the 2025 model year.
