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Marine Products (MPX) investor relations material
Marine Products Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales for Q3 2025 increased 7% year-over-year to $53.1 million, driven by a 7% price/mix increase despite a slight decrease in units sold, marking the first year-over-year growth in over two years as channel destocking subsided and production recovered.
Net income declined 22% year-over-year to $2.7 million ($0.07 per diluted share), impacted by higher R&D, SG&A, and cost adjustments.
EBITDA for Q3 2025 was $3.7 million (6.9% margin), down 15% year-over-year.
Gross profit increased 11% to $10.2 million, with gross margin up 80 basis points to 19.2%.
Launched 2026 model year Chaparral and Robalo products, receiving positive initial feedback at the annual dealer meeting.
Financial highlights
Q3 2025 net sales: $53.1 million (up 7% year-over-year); net income: $2.7 million (down 22%); EBITDA: $3.7 million (down 15%).
Gross margin for Q3 2025 improved to 19.2% from 18.4% year-over-year.
SG&A expenses rose 31% to $7.4 million, mainly due to higher R&D, compensation accruals, and warranty adjustments.
Free cash flow for the nine months ended September 30, 2025, was $10.8 million.
Cash and cash equivalents stood at $47.4 million at quarter-end, with no debt.
Outlook and guidance
Management is cautiously optimistic as dealer inventory stabilizes and trends normalize, with optimism for the year ahead and potential support from interest rate cuts.
Economic uncertainty and restrained finance buyers continue to impact demand, but new product introductions and upgrades are expected to drive growth.
CapEx is expected to increase in the remainder of the year, tracking toward $1–$1.5 million.
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