Marine Products (MPX) Earnings Call Presentation

Company Overview - Marine Products Corporation (MPX) is a leading manufacturer of recreational powerboats with key brands Chaparral and Robalo[12] - The company has been building high-quality fiberglass powerboats for more than 60 years[9] - MPX has approximately 600 employees and is headquartered in Atlanta, with a manufacturing facility in Nashville, GA[11] - The company's market capitalization is approximately $300 million[11] Financial Performance - Net sales for the first quarter of 2025 decreased by 15% year-over-year to $59 million[57] - Net income for the first quarter of 2025 was $2206 thousand, down 52% year-over-year, with diluted EPS of $006[57, 58] - EBITDA for the first quarter of 2025 was $3402 thousand, a 43% decrease year-over-year, with an EBITDA margin of 58%[57, 62] - In 2024, approximately 54% of sales were from the Chaparral brand and 46% from the Robalo brand[15] - In 2024, approximately 65% of sales were from outboard propulsion boats, while 35% were from sterndrive propulsion boats[35] - The company ended the first quarter of 2025 with approximately $571 million in cash and no debt[57] Strategy and Outlook - The company plans to begin working with its dealer network for model year 2026 introductions, taking a conservative approach to rollout and inventory management[2] - Full year 2025 capital expenditures are expected to be approximately $3 million[2] - The company has returned approximately $240+ million to shareholders since 2015[29]