10-K · April 29, 2026
Marine Products Corporation (MPX) reported a modest decline in revenue to $64.57 million for Q4 2025, with EPS at $0.10. The company continues to pursue strategic growth through its merger with MasterCraft, aiming to…
Earnings analysis · 10-Q
MPX earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
Marine Products Corporation (MPX) reported Q1 2026 results showing net sales of $66.5 million, a 12.8% increase year-over-year, driven primarily by a 15% increase in average selling price despite a slight decrease in…
Read full summary
Marine Products Corporation (MPX) reported Q1 2026 results showing net sales of $66.5 million, a 12.8% increase year-over-year, driven primarily by a 15% increase in average selling price despite a slight decrease in unit sales. The company reported a diluted loss per share of $0.06, attributed largely to merger-related costs totaling $5 million, resulting in a net loss of $2.1 million compared to a net income of $2.2 million in the same quarter last year. Management's ongoing efforts focus on aligning production to expected demand and monitoring market conditions, with liquidity generally seen as sufficient for the year ahead.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.06
What stood out
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Revenue Up 12.8% Year-over-Year
Q1 2026 reported revenue of $66.5M, up from $59M in Q1 2025.
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Gross Profit Margins Steady Despite Loss
Gross profit was stable at $11.1M for Q1 2026, compared to $11M the previous year.
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Free Cash Flow at $8.6M
Free cash flow decreased to $8.6M, down from $10.7M in Q1 2025, largely due to the net loss.
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Average Selling Price Increased
Average gross selling price per boat rose to $97.7K, up from $85.1K.
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Continuous Monitoring of Dealer Orders
Management emphasizes alignment of production with adjusted dealer orders and market demand.
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Stable Cash Position
Cash and cash equivalents increased to $45.8M, up from $43.5M at year-end 2025.
What to watch
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Significant Merger Costs
Q1 2026 incurred $5M in merger-related costs impacting net income.
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Weak Retail Demand Impact
Retail demand has weakened, leading to only a 1% decrease in units sold despite price increases.
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Geopolitical Tensions Affecting Costs
Ongoing geopolitical conflicts may drive fuel prices higher, adversely impacting demand.
Management's outlook
Management expects FY 2026 revenues to be between $260M and $270M, no updates provided on specific quarterly guidance.
Earlier filings 4
10-K · February 27, 2026
Marine Products reported modest revenue growth in 2025 with a stronger order backlog while operating margins and free cash flow compressed versus 2024. The company announced a definitive merger agreement with…
10-Q · April 24, 2025
Marine Products reported Q1 net sales of $59,002,000, down from $69,340,000 a year ago, with diluted EPS of $0.06 versus $0.13 in Q1 2024. Gross margin compressed to 18.6% and operating margin fell to 4.4%, while…
10-Q · July 25, 2024
Marine Products reported Q2 net sales of $69,547,000 and diluted EPS of $0.14, versus $116,158,000 and $0.42 in Q2 2023 — a steep year-over-year revenue and earnings decline. Gross margin compressed to 18.9% and…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.