Marine Products (MPX) Stock

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.

Marine Products Corporation (MPX) Q4 2023 Earnings Call Transcript

Marine Products has achieved impressive growth, with revenue growing +10% and EBITDA +20% during the last decade. The company has benefited from a market-leading brand, as well as strong technological development to ensure a highly competitive suite of boats. These factors are underpinned by an extensive dealership. We believe its growth trajectory is sustainable in the medium term, owing to international growth opportunities, economic improvement, and increased interest in recreational boating.

Marine Products Corporation (NYSE:MPX ) Q3 2023 Earnings Conference Call October 25, 2023 8:00 AM ET Company Participants Mike Schmit - Chief Financial Officer Ben Palmer - President & Chief Executive Officer Jim Landers - Vice President of Corporate Services Conference Call Participants Brandon Rolle - D.A. Davidson Operator Good morning and thank you for joining us for Marine Products Corporation's Third Quarter 2023 Financial Earnings Conference Call.

Shares of Winnebago Industries Inc. WGO, +0.58% were indicated down nearly 2% in premarket trading Wednesday, after the recreational vehicle maker beat fiscal fourth-quarter profit expectations but missed on revenue and expects continued pressure on the retail market. Net income for the quarter to Aug. 26 fell to $43.8 million, or $1.28 a share, from $82.6 million, or $2.61 a share, in the year-ago period.