Quarterly ResultMay 7, 2026, 06:52 AM
Marine Products Q1 Net Sales Up 13% to $66.5M; Reports ($0.06) EPS
AI Summary
Marine Products Corporation reported mixed financial results for Q1 2026, with net sales increasing 13% year-over-year to $66.5 million. However, the company posted a net loss of ($2.1) million, or ($0.06) diluted EPS, primarily due to $5.0 million in pre-tax merger-related costs. Adjusted net income was $1.8 million, or $0.05 adjusted diluted EPS. The proposed merger with MasterCraft is progressing, with shareholder votes scheduled for May 12, 2026, and an expected close in Q2 2026. The company ended the quarter with $45.8 million in cash and no debt, and declared a quarterly dividend of $0.14 per share.
Key Highlights
- Net sales increased 13% year-over-year to $66.5 million.
- Reported net loss was ($2.1) million, or ($0.06) diluted EPS.
- Merger-related costs totaled $5.0 million pre-tax in Q1 2026.
- Adjusted diluted EPS was $0.05 for the quarter.
- Ended Q1 2026 with $45.8 million in cash and no debt.
- Declared a regular quarterly cash dividend of $0.14 per share.
- Gross profit margin decreased 200 basis points to 16.6%.
- Proposed merger with MasterCraft expected to close in Q2 2026.