Marine Products Corporation shares Q2 results
Marine Products Corporation, parent company of Chaparral and Robalo, has announced its results for the second quarter ended June 30, 2025.
Net sales decreased 3% to $67.7 million, and net income was $4.2 million, down 25% year-over-year. The decrease in net sales was primarily due to a 13% decrease in the number of boats sold during the quarter, substantially offset by a price/mix increase of 10%. The year-over-year sales decline was more modest versus recent quarters as comparisons ease and field inventories return to more balanced levels.
Earnings before interest, taxes, depreciation and amortization (EBITDA) was $5.6 million, down 13%. The company generated strong operating cash flow and free cash flow and ended the quarter with approximately $50.2 million in cash and no debt.
Gross profit was $12.9 million, down 2%. Gross margin was 19.1%, up 20 basis points versus the prior year period. Gross margin improved as production schedules stabilized with demand resulting in manufacturing cost efficiencies.
“Second quarter results reflected a stabilization of demand and a more balanced environment,” said Ben M. Palmer, president and CEO of Marine Products. “Second quarter sales were down 3% year-over-year; however, shipments and sales grew sequentially again this quarter and are now solidly off second half of 2024 lows. We are excited about our model year 2026 introductions, which feature new models, enhancements across the entire portfolio, and thoughtful approaches to offer cost-effective alternatives.”
“Tariffs and macro risks remain top of mind, with dealers and retail consumers remaining cautious overall,” he continued. “Thus far, supplier cost increases have been manageable, alleviating the concern that the 2026 model year pricing would be up significantly, but risks still persist as tariff policies continue to evolve. The interest rate outlook continues to be cloudy, although there are market expectations for rate cuts later this year.”
