Marine Products Corporation (NYSE:MPX) Q3 2021 Earnings Conference Call October 27, 2021 8:00 AM ET Company Participants Jim Landers - Vice President of Corporate Services Rick Hubbell - President and Chief Executive Officer Ben Palmer - Chief Financial Officer Conference Call Participants Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text b ...

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, 2021 Commission File No. 1-16263 MARINE PRODUCTS CORPORATION (exact name of registrant as specified in its charter) Registrant's telephone number, including area code -- (404) 321-7910 Securities registered pursuant to Section 12(b) of the Act: | Title of each class: | Trading Symbol ...

Marine Products Corporation (NYSE:MPX) Q2 2021 Earnings Conference Call July 28, 2021 8:00 AM ET Company Participants Jim Landers ??? Vice President of Corporate Services Rick Hubbell ??? President and Chief Executive Officer Ben Palmer ??? Chief Financial Officer Conference Call Participants Operator Good morning and thank you for joining us for Marine Products Corporation Second Quarter 2021 Financial Earnings Conference Call. Today???s call will be hosted by Rick Hubbell, President and CEO; and Ben Palme ...

Marine Products Corporation (NYSE:MPX) Q1 2021 Earnings Conference Call April 28, 2021 8:00 AM ET Company Participants Jim Landers ??? Vice President of Corporate Services Rick Hubbell ??? President and Chief Executive Officer Ben Palmer ??? Chief Financial Officer Conference Call Participants Operator Good morning and thank you for joining us for Marine Products Corporation's First Quarter 2021 Financial Earnings Conference Call. Today's call will be hosted by Rick Hubbell, President and CEO; and Ben Palme ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Registrant's telephone number, including area code -- (404) 321-7910 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2021 Commission File No. 1-16263 MARINE PRODUCTS CORPORATION (exact name of registrant as specified in its charter) Delaware 58-2572419 (State or other jurisdiction of incorporation or organization) (I.R.S. Employe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2020 Commission File No. 1-16263 MARINE PRODUCTS CORPORATION Delaware | Title of each class | Trading Symbol | Name of each exchange on which | | --- | --- | --- | | COMMON STOCK, $0.10 PAR | MPX | regi ...

Financial Data and Key Metrics Changes - Net sales for Q4 2020 were $71.1 million, a 47.6% increase compared to Q4 2019 [12] - Gross profit in Q4 was $17.4 million, up 65.7% year-over-year, with a gross margin of 24.5% compared to 21.8% in the previous year [13] - Net income for Q4 was $7 million, a 97.5% increase from $3.5 million in Q4 2019 [15] - Diluted earnings per share were $0.21, compared to $0.10 in the prior year [16] - Cash balance at the end of Q4 was $31.6 million, an increase of $11.8 million from $19.8 million at the end of Q4 2019 [18] Business Line Data and Key Metrics Changes - Unit sales increased by 27.8% during the quarter, with average selling prices rising by 14.1% due to the popularity of larger models [12] - Robalo outboard sport fishing boats achieved the 1 market share in their category, up from 2 in the previous quarter [9] Market Data and Key Metrics Changes - International sales accounted for 4.8% of total sales during the quarter, an increase of 82% compared to the same period last year [17] - The company is experiencing historically low dealer inventory levels and high order backlogs [18] Company Strategy and Development Direction - The company is prioritizing product quality while considering production increases [22] - There is a focus on virtual marketing due to the cancellation of 2021 boat shows, adapting to consumer comfort with making purchases online [21][46] Management's Comments on Operating Environment and Future Outlook - The company expects a strong retail selling season for 2021, with the industry likely to grow compared to 2020 [39] - Management is monitoring employee well-being, labor constraints, and potential supply chain issues as they serve dealers and customers [22] Other Important Information - A quarterly cash dividend of $0.10 per share was declared, representing a 25% increase compared to the prior quarter [10] Q&A Session Summary Question: How much of your production is geared towards already purchased boats versus stock inventory? - The company prioritizes production based on sold boats, indicating a significant focus on fulfilling dealer orders [25] Question: What purchasing behavior have you seen from dealers regarding inventory? - Consumers are eager to get into boating and are flexible with color choices, but they remain choosy about quality [26] Question: What are the main supply chain issues currently faced? - The company is monitoring engine supplies and components with limited manufacturers, such as windshields [35] Question: Do you expect the industry to grow in 2021? - Management is optimistic about industry growth in 2021, especially considering the shutdowns in 2020 [39] Question: How will the promotional environment affect margins moving forward? - A lower than normal incentive environment is expected to continue due to strong demand, but some stabilization in incentives is anticipated [42]

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 September 30, 2020 Commission File No. 1-16263 MARINE PRODUCTS CORPORATION (exact name of registrant as specified in its charter) Delaware 58-2572419 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 2801 Buford Highway, Suite 300, Atlanta, ...

Financial Data and Key Metrics Changes - Net sales for Q3 2020 were $68.8 million, a decrease of 4.8% compared to Q3 2019 [12] - Unit sales declined by 10.4% year-over-year, partially offset by an improved model mix resulting in a 7.8% increase in average selling prices [12] - Gross profit increased by 3.1% to $16.2 million, with gross margin rising to 23.6% from 21.8% in Q3 2019 [12][13] - Net income for Q3 2020 was $6.5 million, a decrease of 16.8% from $7.9 million in Q3 2019, with diluted earnings per share at $0.19 compared to $0.23 in the prior year [15] Business Line Data and Key Metrics Changes - Recreational boating sales benefited from COVID-19, leading to high dealer and consumer demand [8] - Chaparral and Robalo maintained market share leadership in their respective categories [8][9] Market Data and Key Metrics Changes - International sales decreased by 29.9%, accounting for only 3.1% of total sales in Q3 2020, down from 4.3% in Q3 2019 [16] - Dealer inventory levels were significantly lower compared to previous years, with a high order backlog in units [17] Company Strategy and Development Direction - The company is optimistic about the 2021 model year and is evaluating opportunities to increase production to meet demand [19] - There are concerns regarding manufacturing capacity constraints, labor availability, and supply chain issues [19] Management Comments on Operating Environment and Future Outlook - Management expressed satisfaction with operating in a high-demand market despite uncertainties regarding in-person boat shows and marketing strategies for 2021 products [19][20] Other Important Information - A regular quarterly cash dividend of $0.08 per share and a special year-end cash dividend of $0.04 per share were declared [9][10] - The cash balance at the end of Q3 was $29 million, an increase of $6 million from the previous year [16] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded without any inquiries from participants [22][23]

Marine Products Corporation (NYSE:MPX) Q2 2020 Earnings Conference Call July 29, 2020 8:00 AM ET Company Participants Rick Hubbell - President and CEO Ben Palmer - Chief Financial Officer Jim Landers - Vice President of Corporate Finance Conference Call Participants Eric Wold - B. Riley Operator Good morning, and thank you for joining us for Marine Products Corporation's Second Quarter 2020 Financial Earnings Conference Call. Today's call will be hosted by Rick Hubbell, President and CEO and Ben Palmer, Chi ...