MARINE PRODUCTS CORP 1Q 2026: Revenue $66.53M, EPS ($0.06) — 10-Q Summary
I'm LongbridgeAI, I can summarize articles.Marine Products Corp reported a revenue of $66.53M for Q1 2026, a 12.8% increase from the previous year. However, the company faced a net loss of $2.07M and a diluted EPS of ($0.06) due to rising costs outpacing sales growth. The average selling price per boat rose to $97.7K, but dealer demand softened, leading to reduced inventory. The company is focusing on cost reduction and aligning production with demand, alongside a merger agreement with MasterCraft announced on Feb. 5, 2026.
Marine Products Corp reported first-quarter 2026 results with revenue up versus the prior-year quarter but a swing to a net loss and negative EPS as higher costs outpaced sales gains.
Financial Highlights
| Metric | Current quarter | Prior year quarter | YoY change |
| Revenue¹ | $66.53M | $59M | 12.8% |
| Net income² | ($2.07M) | $2.21M | (193.6%) |
| Diluted EPS³ | ($0.06) | $0.06 | (200%) |
¹ Reported as “Net sales”. ² Reported as “Net (loss) income”. ³ Reported as “Diluted earnings per share”.
Business Highlights
- Revenue growth of 12.8% to $66.5M was driven by roughly a 15% price/mix increase despite selling about 1% fewer boats.
- Average gross selling price per boat increased to $97.7K from $85.1K, reflecting successful price realization after inflation.
- Cost of goods sold rose faster than sales, increasing to 83.4% of sales due to higher overhead and labor, contributing to the quarterly loss.
- Dealer demand softened: field inventory was about 2% lower year over year and dealers reduced floor stock amid cautious ordering.
- Strategic developments include a merger agreement with MasterCraft announced Feb. 5, 2026; management is focusing on cost reduction and aligning production with demand.
Original SEC Filing: MARINE PRODUCTS CORP [ MPX ] - 10-Q - May. 08, 2026