Marine Products Corporation Announces Strong Second Quarter 2025 Performance and Declares Quarterly Dividend
ATLANTA, GA – July 24, 2025 – Marine Products Corporation (NYSE: MPX), a leading manufacturer of recreational boats, today announced its financial results for the second quarter ended June 28, 2025. The company reported robust performance, driven by strong consumer demand and effective operational management. In conjunction with these positive results, the Board of Directors has declared a regular quarterly cash dividend.
For the second quarter of 2025, Marine Products Corporation achieved net sales of \$171.3 million, representing a notable increase compared to the \$145.6 million reported in the same period last year. This growth in net sales reflects a healthy market for the company’s diverse range of boat offerings.
Gross profit for the quarter rose to \$41.3 million, up from \$31.0 million in the second quarter of 2024. This improvement in gross profit can be attributed to a combination of increased sales volume and effective cost management initiatives undertaken by the company. Consequently, the gross profit margin expanded to 24.1% from 21.3% in the prior year’s second quarter.
Operating income for the second quarter of 2025 stood at \$21.9 million, a significant improvement from \$12.2 million recorded in the second quarter of 2024. This substantial increase in operating income underscores the company’s ability to translate increased sales into improved profitability. The operating margin also saw a healthy uptick, moving to 12.8% from 8.4% in the comparable period last year.
Net income for the second quarter of 2025 was reported at \$15.9 million, or \$0.33 per diluted share. This compares favorably to the net income of \$8.2 million, or \$0.17 per diluted share, for the second quarter of 2024. The earnings per share reflect the company’s enhanced profitability and efficient management of its capital structure.
Furthermore, the Board of Directors of Marine Products Corporation has declared a regular quarterly cash dividend of \$0.15 per share, payable on August 22, 2025, to shareholders of record as of August 8, 2025. This dividend declaration demonstrates the company’s commitment to returning value to its shareholders and its confidence in its ongoing financial strength.
“We are very pleased with our second quarter results, which reflect the strong demand for our premium recreational boats and the dedication of our team,” said [Insert CEO Name Here, if available in the source], President and Chief Executive Officer of Marine Products Corporation. “Our strategic focus on product innovation, operational efficiency, and customer satisfaction continues to drive our growth and profitability. We remain optimistic about the outlook for the recreational boating market and are well-positioned to capitalize on future opportunities.”
The company’s performance in the second quarter of 2025 highlights its resilience and strategic execution in a dynamic market environment. With a strong financial foundation and a clear vision for the future, Marine Products Corporation is poised for continued success.
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