Marine Products Q3 revenue up 7%
Marine Products reported a 7% increase in Q3 revenue to $53.1 million, while net income fell 22% to $2.7 million due to higher R&D costs. The company launched new Chaparral and Robalo models and anticipates 2025 capital expenditures between $1.0 to $1.5 million. They expect lower interest rates to benefit finance buyers and are optimistic about stabilizing demand in the marine industry. Gross margin improved by 80 basis points despite a slight decrease in boat sales.
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Overview
- Marine Products Q3 revenue rose 7% yr/yr to $53.1 mln
- Net income for Q3 fell 22% to $2.7 mln due to higher R&D costs
- Company launched new 2026 model year Chaparral and Robalo products
Outlook
- Company expects 2025 capital expenditures to be $1.0 to $1.5 mln
- Company sees potential for lower interest rates aiding finance buyers
- Marine Products optimistic about stabilizing demand in marine industry
Result Drivers
- PRICE/MIX INCREASE - Net sales rose 7% due to a price/mix increase, despite a slight decrease in the number of boats sold
- GROSS MARGIN IMPROVEMENT - Gross margin improved by 80 basis points due to targeted incentives and stabilized production schedules
- R&D INVESTMENTS - Net income fell 22% due to higher R&D investments and cost true-ups
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q3 $53.14
Revenue mln
Q3 EPS $0.07
Q3 Net $2.65
Income mln
Analyst Coverage
- The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 20 three months ago
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
