Marine Products reports Q1 EPS 34c vs. 21c last year

Reports Q1 revenue $118.91M vs. $76.61M last year. "We increased production during the first quarter as we supported our dealers’ needs for inventory as the 2023 retail selling season began and our manufacturing efficiencies continued to improve," stated Ben Palmer, Marine Products’ president and CEO. "The outcome of the winter boat shows was generally favorable, and our dealers continue to request both retail sold units as well as inventory to meet their projected demand. Dealer inventories are beginning to increase toward more normalized levels though they remain lower than pre-pandemic inventory levels. Though we are optimistic about near-term demand, we continue to monitor indications of negative consumer sentiment arising from higher interest rates or an economic slowdown."