Marine Products (MPX) Company Overview

Marine Products Corporation (NYSE:MPX ) Q4 2024 Earnings Call January 30, 2025 8:00 AM ET Company Participants Ben Palmer - President and Chief Executive Officer Mike Schmit - Chief Financial Officer Conference Call Participants Griffin Bryan - D.A. Davidson Operator Good morning and thank you for joining us for Marine Products Corporation Fourth Quarter and Year End 2024 Financial Earnings Conference Call.

ATLANTA , Jan. 30, 2025 /PRNewswire/ -- Marine Products Corporation (NYSE: MPX) (the "Company"), a leading manufacturer of fiberglass boats, announced its unaudited results for the fourth quarter and full year ended December 31, 2024. * Non-GAAP measures, including EBITDA, EBITDA margin, and free cash flow are reconciled to the most comparable GAAP measures in the appendices of this earnings release.

ATLANTA , Jan. 7, 2025 /PRNewswire/ -- Marine Products Corporation (NYSE: MPX) announced today that it will release its financial results for the fourth quarter ended December 31, 2024 on Thursday, January 30, 2025 before the market opens. In conjunction with its earnings release, the Company will host a conference call to review the Company's financial and operating results on Thursday, January 30, 2025 at 8:00 a.m.

NEW YORK and TORONTO , Dec. 4, 2024 /PRNewswire/ - iAnthus Capital Holdings, Inc. ("iAnthus" or the "Company") (CSE: IAN) (OTCQB: ITHUF), which owns, operates and partners with regulated cannabis operations across the United States, provides an update to the previously disclosed legal proceedings involving Ninth Square Capital Corporation ("Ninth Square"). Ninth Square served a statement of claim on August 8, 2019 against iAnthus, MPX Bioceutical ULC ("MPX ULC"), a wholly-owned subsidiary of iAnthus, and MPX International Corporation ("MPXI") before the Ontario Superior Court of Justice, seeking damages for alleged oppressive conduct relating to an arrangement between iAnthus and MPX Bioceutical Corporation, the predecessor of MPX ULC (such claim, together with all related and consolidated actions, the "Consolidated Claims").

Marine Products' Q3 results were weak amid industry turbulence. The company slightly underperformed peers in the quarter, but the underperformance fell within short-term turbulence. The industry outlook remains uncertain as customers are still waiting for more extensive rate cuts. On the other hand, normalizing dealer inventory levels suggests slight optimism for manufacturers. I again estimate the MPX stock to be undervalued, now with a 44% upside into a fair value of $13.97.

Marine Products Corporation (NYSE:MPX ) Q3 2024 Earnings Conference Call October 24, 2024 8:00 AM ET Company Participants Ben Palmer - President and CEO Mike Schmit - Chief Financial Officer Conference Call Participants Griffin Bryan - D.A. Davidson Operator Good morning.

ATLANTA , July 10, 2024 /PRNewswire/ -- Marine Products Corporation (NYSE: MPX) announced today that it will release its financial results for the second quarter ended June 30, 2024 on Thursday, July 25, 2024 before the market opens.  In conjunction with its earnings release, the Company will host a conference call to review the Company's financial and operating results on Thursday, July 25, 2024 at 8:00 a.m.

MPX's revenue declines in Q4 and Q1 have been deeper than previously anticipated as industry challenges persist. Excess dealership inventories and weak consumer confidence continue to ravage demand, but an eventual industry recovery should happen with interest rates playing a key role. Despite the challenges, MPX has maintained high margins and has a strong balance sheet leaving potential for M&A or excess capital distribution.

Marine Products is a Georgia-based manufacturer of smaller fishing and seaside excursion boats, with a leading market position. The company has enjoyed strong returns and margins since 2021, with zero debt and plenty of cash on hand currently. A record-low valuation and conservative financial position have created an attractive investment opportunity in MPX.