Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to__________ Commission File No. 1-16263 MARINE PRODUCTS CORPORATION (exact name of registrant as specified in its charter) Delaware 58-257241 ...

Financial Data and Key Metrics Changes - Second quarter sales decreased by 3% to $67.7 million, driven by a 13% decrease in the number of boats sold, partially offset by a 10% increase in price and mix [10] - Gross profit decreased to $12.9 million, but gross profit margin increased by 20 basis points to 19.1% [10] - SG&A expenses rose by 9% to $8.1 million, with SG&A as a percentage of sales increasing by 130 basis points to 12% [11] - Diluted EPS fell to $0.12 from $0.14 in the previous year [11] - EBITDA decreased to $5.6 million from $6.5 million last year [12] - Year-to-date operating cash flow was $90.2 million, with free cash flow at $8.6 million [12] - The company ended the quarter with $50 million in cash and no debt [12] Business Line Data and Key Metrics Changes - The company noted that retail sales declined industry-wide during the first four months of 2025, but managed to reduce field inventory by 11% year over year [6] - The introduction of new models last year was well received, and the company is excited about the 2026 model year rollout with several portfolio-wide changes [8][14] Market Data and Key Metrics Changes - The company observed that channel inventory levels are stabilizing, and there are positive signs of declining inventory levels [5] - Interest rates remain elevated, but potential rate cuts could stimulate spending among dealers and consumers [6][8] Company Strategy and Development Direction - The company is focused on positioning its brands for improved future demand and maximizing returns on investments [6] - There is an ongoing evaluation of acquisition opportunities and partnerships to enhance the company's portfolio [14] - The company aims to maintain strong relationships with dealers regarding channel inventory management [9] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the industry working through excess inventory and the potential for improved sales in the second half of 2025 [5] - The company is closely monitoring tariff changes and their impact on input costs, including engines and materials [7] - Management highlighted the importance of maintaining dialogue with government representatives regarding trade negotiations [8] Other Important Information - The company plans to demonstrate new models to dealers at the August year meeting [14] - The company has maintained a strong balance sheet, positioning itself as a buyer of choice for high-quality assets [14] Q&A Session Summary - There were no questions during the Q&A session [15]

Exhibit 99.1 Marine Products Corporation Reports Second Quarter 2025 Financial Results And Declares Regular Quarterly Dividend Page 1 Second Quarter 2025 Earnings Press Release ATLANTA, July 24, 2025 – Marine Products Corporation (NYSE: MPX) (the "Company"), a leading manufacturer of fiberglass boats, announced its unaudited results for the second quarter ended June 30, 2025. * Non-GAAP measures, including EBITDA, EBITDA margin, and free cash flow are reconciled to the most comparable GAAP measures in the a ...

Core Insights - Marine Products Corporation reported a 3% year-over-year decline in net sales for Q2 2025, totaling $67.7 million, primarily due to a 13% decrease in the number of boats sold, which was partially offset by a 10% price/mix increase [4][7] - The company experienced a net income of $4.2 million, down 25% from the previous year, with diluted EPS at $0.12, reflecting a net income margin decrease of 190 basis points to 6.1% [7][8] - Management expressed optimism about demand stabilization and upcoming model year 2026 introductions, despite ongoing concerns regarding tariffs and macroeconomic risks [3][4] Financial Performance - Gross profit for Q2 2025 was $12.9 million, a decrease of 2% year-over-year, with a gross margin of 19.1%, which improved by 20 basis points compared to the prior year [5][8] - Selling, general and administrative expenses rose by 9% to $8.1 million, representing 12.0% of net sales, attributed to increased R&D investments and timing of incentive compensation [5][8] - EBITDA for the quarter was $5.6 million, down 13% year-over-year, with an EBITDA margin of 8.3%, a decrease of 100 basis points from the previous year [7][8] Cash Flow and Balance Sheet - The company ended Q2 2025 with cash and cash equivalents of $50.2 million and no debt, with net cash provided by operating activities at $9.2 million and free cash flow at $8.6 million year-to-date [9][10] - Year-to-date dividend payments totaled $9.8 million, with a quarterly dividend of $0.14 per share declared for payment on September 10, 2025 [10] - Total assets as of June 30, 2025, were $173.2 million, with total liabilities at $46.0 million, indicating a strong balance sheet position [16][17] Market Outlook - Management highlighted the importance of a strong balance sheet and disciplined production management to navigate the current market environment, with expectations for capital expenditures of approximately $3 million for the full year 2025 [3][9] - The company is focused on product innovation and diversification to enhance market share and long-term shareholder value [12][13]

ATLANTA, July 14, 2025 /PRNewswire/ -- Marine Products Corporation (NYSE: MPX) announced today the appointment of Gary Kolstad to the Board of Directors of the Company.  Kolstad holds a B.S. Degree from Montana Technological University in petroleum engineering and studied Psychology and Engineering at Montana State University-Bozeman. After a long career in various positions at a large, international company, he served as Chairman and CEO of public and private companies and currently holds multiple Advisory ...

Group 1 - Marine Products Corporation will release its financial results for Q2 2025 on July 24, 2025, before market opens [1] - A conference call to discuss the financial and operating results will take place on July 24, 2025, at 8:00 a.m. Eastern Time [1] - Participants can join the conference call via toll-free number or international dial-in, with a conference ID provided [2] Group 2 - Marine Products Corporation is a leading manufacturer of high-quality fiberglass boats under the brands Chaparral and Robalo [3] - The company offers a diverse range of products, including sterndrive models, outboard offerings, and sport fishing models [3] - Marine Products Corporation aims to increase market share and generate superior financial performance through product innovation and a strong dealer network [3]

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CORPORATE OVERVIEW April 2025 MARINE PRODUCTS CORPORATION FORWARD LOOKING STATEMENTS NON-GAAP DISCLOSURE Certain statements and information included in this press release constitute "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements that look forward in time or express management's beliefs, expectations, hopes or strategies. In particular, such statements include, without limitation: our plans to begin ...

Financial Performance - Consolidated net sales decreased 14.9% to $59.0 million for Q1 2025 compared to $69.3 million in Q1 2024, primarily due to a 19% decrease in unit sales[77] - Gross profit decreased to $11.0 million in Q1 2025 from $14.0 million in Q1 2024, reflecting continued weakness in the marine industry[77] - Net income decreased to $2.2 million in Q1 2025, down from $4.6 million in Q1 2024, with diluted earnings per share at $0.06 compared to $0.13[77] - EBITDA for Q1 2025 was $3.4 million, down from $5.9 million in Q1 2024, resulting in an EBITDA margin of 5.8% compared to 8.5%[96] - Total number of boats sold decreased to 625 in Q1 2025 from 770 in Q1 2024, while the average gross selling price per boat increased to $85.1 from $80.4[87] - Selling, general and administrative expenses decreased to $8.3 million in Q1 2025 from $8.7 million in Q1 2024, representing 14.1% of net sales compared to 12.6%[92] - Cash flow from operating activities decreased to $10.8 million in Q1 2025 from $15.9 million in Q1 2024, with free cash flow also decreasing to $10.7 million from $15.0 million[97] Tax and Regulatory Matters - The effective tax rate increased to 27.8% in Q1 2025 from 24.6% in Q1 2024, primarily due to unfavorable permanent adjustments on decreased pretax income[94] - The company filed a shelf registration statement on April 23, 2025, allowing for the offering of securities up to $150 million, subject to market conditions[109] Future Outlook - The company anticipates that sales comparisons to the prior year could begin to turn positive in the second half of 2025 as dealer inventories return to more acceptable levels[83] - The company is actively monitoring dealer inventories and order patterns for an uptick in demand, which may lead to increased production schedules[83] - The company anticipates that inflation and interest rate increases may impact retail demand for boats, particularly smaller models[128] - The company expects capital expenditures in 2025 to be approximately $3.0 million[1] Cash Management and Dividends - Cash provided by operating activities decreased by $5.1 million for the three months ended March 31, 2025, primarily due to a decrease in net income[106] - Working capital generated $6.7 million in cash for the three months ended March 31, 2025, down from $9.5 million in the same period of the prior year[106] - The company has repurchased a total of 6,679,572 shares under its stock repurchase program, with 1,570,428 shares remaining available for repurchase as of March 31, 2025[111] - A regular quarterly cash dividend of $0.14 per share was declared, payable on June 10, 2025, to common stockholders of record as of May 9, 2025[113] - The company expects to continue paying cash dividends to common stockholders, subject to industry conditions and financial performance[1] Risk Factors - The company acknowledges that the cost of boat ownership has risen significantly, which may affect future retail demand and profit margins[1] - The company recognizes that ongoing tariff developments could lead to inflationary pressures impacting costs[1] - The company does not expect any material changes in market risk exposures or how those risks are managed[1] Employee Benefits - The company is currently evaluating funding options for the distribution of participant balances from the terminated Supplemental Executive Retirement Plan, expected to occur between 12 and 24 months after termination[112] - The company has plans to evaluate funding and timing options for distributing the Supplemental Executive Retirement Plan participant balances[1]

Financial Performance - Q1 2025 sales were $59 million, a 15% decline year-over-year, but an improvement from the 30%-40% declines experienced throughout CY2024 [4][11] - Gross profit decreased to $11 million, with a margin of 18.6%, down 60 basis points due to lower volumes and reduced fixed cost absorption [11] - Diluted EPS was $0.06, down from $0.13 in Q1 2024 [11] - EBITDA for Q1 2025 was $3.4 million, down from $5.9 million in Q1 2024 [11] - Operating cash flow was strong at $10.8 million, with free cash flow of $10.7 million [11] Sales and Market Trends - The number of boats sold decreased by 19% year-over-year in Q1 2025 [11] - Channel inventory was down 18% compared to Q1 2024, indicating a reduction in unsold stock [4][9] - Management anticipates potential year-over-year sales growth in the second half of 2025 despite ongoing challenges [4][9] Cost Management and Expenditures - SG&A expenses were $8.3 million, down 5% year-over-year, primarily due to costs that vary with sales and profitability [11] - Capital expenditures for Q1 2025 were under $100,000, with expectations of approximately $3 million for the full year [4][11] Strategic Initiatives - The company is actively seeking acquisitions to expand its business and has ample liquidity to pursue opportunities [5][12] - An S-3 registration statement has been filed, which includes the registering of Rollins Family Control Group shares [5][11] Leadership Changes - Steve Lewis has been elected to the board of directors, while Gary Rollins and Pam Rollins have retired from the board [5][12]