Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Marine Products Corp. (MPX)
NYSE:MPX
Holding MPX?
Track your performance easily
Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.05Last Year’s EPS
$0.16Same Quarter Last Year
Based on 0 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: -0.61%
|Next Earnings Date:Jan 22, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a difficult demand environment with significant declines in sales and profit, yet there are positive signs in inventory management and dealer engagement. The company remains focused on managing costs and maintaining cash flow.Company Guidance
During the recent earnings call for Marine Products Corporation's third quarter of 2024, several key metrics were highlighted. Sales decreased by 36% to $49.9 million compared to the same quarter last year, primarily due to a 40% reduction in the number of boats sold. Despite this, price and mix contributed a positive 4%. Gross profit fell to $9.2 million, with a gross margin of 18.4%, marking a decline of 630 basis points year-over-year. SG&A expenses were trimmed by 36% to $5.6 million, aligning proportionately with the decreased sales, maintaining an 11.3% share of sales. The company reported a diluted EPS of $0.10, down from $0.30 in the previous year. EBITDA dropped to $4.3 million from $13 million, previously buoyed by a $1.8 million real estate gain. The company generated $24.9 million in operating cash flow and $21.3 million in free cash flow year-to-date, with capital expenditures expected to reach about $5 million for the full year. Additionally, the company maintained over $53 million in cash, underscoring its financial stability amidst challenging market conditions.Dealer Inventory and Cost Management
The company successfully reduced dealer inventory levels and managed costs through measures like headcount reductions and scaled-back production. There was a 13% sequential decrease in build units compared to the second quarter.
Positive Dealer Response to New Offerings
The August dealer conference unveiled new models and features, receiving a very positive response from dealers.
Cash Flow and Dividend Returns
Despite challenges, operating cash flow of $24.9 million and free cash flow of $21.3 million were generated year-to-date. Regular dividends were maintained, along with a $0.70 special dividend.
---
MPX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
MPX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $9.31 | $9.46 | +1.61% |
| Jul 25, 2024 | $9.60 | $10.15 | +5.73% |
| Apr 25, 2024 | $10.04 | $10.17 | +1.29% |
| Jan 25, 2024 | $9.85 | $9.24 | -6.19% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Marine Products Corp. (MPX) report earnings?
Marine Products Corp. (MPX) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is Marine Products Corp. (MPX) earnings time?
Marine Products Corp. (MPX) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MPX EPS forecast?
MPX EPS forecast for the fiscal quarter 2024 (Q4) is $0.05.
---