New Risk • May 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 35% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 207% Cash payout ratio: 154% Earnings have declined by 15% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.8% net profit margin). Reported Earnings • May 07
First quarter 2026 earnings released: US$0.059 loss per share (vs US$0.064 profit in 1Q 2025) First quarter 2026 results: US$0.059 loss per share (down from US$0.064 profit in 1Q 2025). Revenue: US$66.5m (up 13% from 1Q 2025). Net loss: US$2.07m (down 194% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Declared Dividend • May 01
Fourth quarter dividend of US$0.14 announced Dividend of US$0.14 is the same as last year. Ex-date: 8th May 2026 Payment date: 14th May 2026 Dividend yield will be 7.0%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (172% earnings payout ratio) nor is it covered by cash flows (132% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 91% to bring the payout ratio under control. However, EPS has declined by 11% over the last 5 years so the company would need to reverse this trend. Annuncio • Apr 29
Marine Products Corporation Declares a Regular Quarterly Cash Dividend, Payable on May 14, 2026 Marine Products Corporation announced that its Board of Directors declared a regular quarterly cash dividend of $0.14 per share payable May 14, 2026 to common stockholders of record at the close of business on May 8, 2026. Annuncio • Apr 17
Marine Products Corporation to Report Q1, 2026 Results on May 07, 2026 Marine Products Corporation announced that they will report Q1, 2026 results Pre-Market on May 07, 2026 Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$8.05, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 26x in the Leisure industry in the US. Total loss to shareholders of 26% over the past three years. New Risk • Feb 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.7% Last year net profit margin: 7.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 141% Cash payout ratio: 131% Earnings have declined by 9.1% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (4.7% net profit margin). Reported Earnings • Feb 06
Full year 2025 earnings released: EPS: US$0.33 (vs US$0.52 in FY 2024) Full year 2025 results: EPS: US$0.33 (down from US$0.52 in FY 2024). Revenue: US$244.4m (up 3.3% from FY 2024). Net income: US$11.4m (down 36% from FY 2024). Profit margin: 4.7% (down from 7.5% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Annuncio • Feb 05
MasterCraft Boat Holdings, Inc. (NasdaqGM:MCFT) entered into a definitive agreement to acquire Marine Products Corporation (NYSE:MPX) from LOR, Inc. and others for approximately $270 million. MasterCraft Boat Holdings, Inc. (NasdaqGM:MCFT) entered into a definitive agreement to acquire Marine Products Corporation (NYSE:MPX) from LOR, Inc. and others for approximately $270 million on February 5, 2026. Under the terms of the agreement, Marine Products shareholders will receive $2.43 per share in cash and 0.232 shares of MasterCraft common stock for each share of Marine Products they own. Based on MasterCraft’s closing share price of $23.12 on February 4, 2026, this consideration implies a value of $7.79 per Marine Products share. The corresponding transaction value of $232.2 million represents approximately 7.2x Marine Products’ expected EBITDA for the twelve months ending June 30, 2026, after adjusting for the elimination of approximately $6 million of public company costs and corporate overhead. Upon closing of the transaction, MasterCraft shareholders will own 66.5% and Marine Products shareholders will own 33.5% of the combined company. The transaction has been unanimously approved by the Boards of Directors of both companies and the Special Committee of the Board of Directors of Marine Products. The transaction is expected to be financed through combined cash on hand. MCBH intends to fund the cash portion of the consideration with combined cash on hand. As of December 31, 2025, MCBH and Marine Products had cash and cash equivalents of $81.4 million and $43.5 million, respectively.
Upon completion of the transaction, Nelson, Chief Executive Officer of MasterCraft, will serve as Chief Executive Officer of the combined company, and Scott Kent, Chief Financial Officer of MasterCraft, will serve as Chief Financial Officer of the combined company. MasterCraft expects to maintain the Chaparral and Robalo leadership teams, brands and employees as a separate operating unit. Following closing, MasterCraft’s Board of Directors will expand from seven to 10 directors and include three new directors. Roch Lambert will serve as Chair of the Board of the combined company. The combined company will be headquartered in Vonore, Tennessee and will maintain the Chaparral and Robalo operating facilities in Nashville, Georgia.
The transaction is expected to close in the second calendar quarter of 2026, subject to approval by both MasterCraft and Marine Products shareholders and the satisfaction of other customary closing conditions. The transaction has been unanimously approved by the Board of Directors of both companies and the Special Committee of the Board of Directors for Marine Products.
Wells Fargo is acting as exclusive financial advisor to MasterCraft and King & Spalding LLP is serving as legal counsel. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to MasterCraft. Truist Securities is serving as exclusive financial advisor to Marine Products, and Alston & Bird LLP is serving as legal advisor. Potter Anderson & Corroon LLP is serving as legal counsel to the Special Committee of the Marine Products board. Gagnier Communications LLC is serving as strategic communications advisor to Marine Products. McDermott Will & Schulte LLP is serving as legal advisor to LOR, Inc. Declared Dividend • Jan 30
Third quarter dividend of US$0.14 announced Dividend of US$0.14 is the same as last year. Ex-date: 10th February 2026 Payment date: 10th March 2026 Dividend yield will be 5.8%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (141% earnings payout ratio) nor is it covered by cash flows (136% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 57% to bring the payout ratio under control. However, EPS has declined by 3.4% over the last 5 years so the company would need to reverse this trend. Annuncio • Jan 20
Marine Products Corporation to Report Q4, 2025 Results on Feb 06, 2026 Marine Products Corporation announced that they will report Q4, 2025 results Pre-Market on Feb 06, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: US$0.076 (vs US$0.098 in 3Q 2024) Third quarter 2025 results: EPS: US$0.076 (down from US$0.098 in 3Q 2024). Revenue: US$53.1m (up 6.6% from 3Q 2024). Net income: US$2.65m (down 22% from 3Q 2024). Profit margin: 5.0% (down from 6.8% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. New Risk • Oct 30
New major risk - Revenue and earnings growth Earnings have declined by 0.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 139% Cash payout ratio: 126% Earnings have declined by 0.5% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (6.3% net profit margin). Annuncio • Oct 30
Marine Products Corporation Declares Regular Quarterly Dividend ,Payable on December 10, 2025 Marine Products Corporation declared a regular cash quarterly dividend of $0.14 per share payable on December 10, 2025, to common stockholders of record at the close of business on November 10, 2025. Annuncio • Oct 08
Marine Products Corporation to Report Q3, 2025 Results on Oct 30, 2025 Marine Products Corporation announced that they will report Q3, 2025 results Pre-Market on Oct 30, 2025 Reported Earnings • Jul 25
Second quarter 2025 earnings released: EPS: US$0.12 (vs US$0.16 in 2Q 2024) Second quarter 2025 results: EPS: US$0.12 (down from US$0.16 in 2Q 2024). Revenue: US$67.7m (down 2.7% from 2Q 2024). Net income: US$4.16m (down 26% from 2Q 2024). Profit margin: 6.1% (down from 8.0% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Annuncio • Jul 24
Marine Products Corporation Declares Quarterly Dividend, Payable on September 10, 2025 The Board of Directors of Marine Products Corporation declared a regular quarterly dividend of $0.14 per share payable on September 10, 2025, to common stockholders of record at the close of business on August 11, 2025. Annuncio • Jul 15
Marine Products Corporation Appoints Gary Kolstad to the Board of Directors, Effective July 14, 2025 On July 14, 2025, the Board of Directors of Marine Products Corporation appointed Gary Kolstad as an Independent Director effective as of July 14, 2025 . Mr. Kolstad will be compensated on the same basis as the other non-employee directors, and he has not been appointed to any committees at this time. Kolstad holds a B.S. Degree from Montana Technological University in petroleum engineering and studied Psychology and Engineering at Montana State University-Bozeman. After a long career in various positions at a large, international company, he served as Chairman and CEO of public and private companies and currently holds multiple Advisory Board Member and Investor positions. Marine Products Corporation is a leading manufacturer of high-quality fiberglass boats under the brand names Chaparral and Robalo. Chaparral’s sterndrive models include SSi Sportboats and SSX Luxury Sportboats, and the SURF Series. Chaparral’s outboard offerings include OSX Luxury Sportboats and the SSi Outboard Bowriders. Robalo builds an array of outboard sport fishing models, which include Center Consoles, Dual Consoles and Cayman Bay Boats. The Company continues to diversify its product lines through product innovation. With these premium brands, a solid capital structure, and a strong independent dealer network, Marine Products Corporation is prepared to capitalize on opportunities to increase its market share and generate superior financial performance to build long-term shareholder value. Annuncio • Jul 02
Marine Products Corporation to Report Q2, 2025 Results on Jul 24, 2025 Marine Products Corporation announced that they will report Q2, 2025 results Pre-Market on Jul 24, 2025 New Risk • Apr 28
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 126% Cash payout ratio: 95% Dividend yield: 6.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 126% Cash payout ratio: 95% Minor Risk Profit margins are more than 30% lower than last year (6.8% net profit margin). Declared Dividend • Apr 27
First quarter dividend of US$0.14 announced Shareholders will receive a dividend of US$0.14. Ex-date: 9th May 2025 Payment date: 10th June 2025 Dividend yield will be 6.5%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (126% earnings payout ratio). However, it is covered by cash flows (79% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 40% to bring the payout ratio under control. However, EPS has declined by 9.7% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Apr 25
First quarter 2025 earnings released: EPS: US$0.063 (vs US$0.13 in 1Q 2024) First quarter 2025 results: EPS: US$0.063 (down from US$0.13 in 1Q 2024). Revenue: US$59.0m (down 15% from 1Q 2024). Net income: US$2.21m (down 52% from 1Q 2024). Profit margin: 3.7% (down from 6.6% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Annuncio • Apr 04
Marine Products Corporation to Report Q1, 2025 Results on Apr 24, 2025 Marine Products Corporation announced that they will report Q1, 2025 results Pre-Market on Apr 24, 2025 Reported Earnings • Mar 03
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$0.52 (down from US$1.21 in FY 2023). Revenue: US$236.6m (down 38% from FY 2023). Net income: US$17.9m (down 57% from FY 2023). Profit margin: 7.5% (down from 11% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 19%. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Leisure industry in the US. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 10% per year. Buy Or Sell Opportunity • Feb 27
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to US$8.51. The fair value is estimated to be US$10.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.8% over the last 3 years. Earnings per share has declined by 9.3%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to decline by 3.7% in the next 2 years. Annuncio • Feb 24
Marine Products Corporation, Annual General Meeting, Apr 22, 2025 Marine Products Corporation, Annual General Meeting, Apr 22, 2025. Location: at 2170 piedmont road, ne,georgia, atlanta United States New Risk • Feb 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.0% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (109% payout ratio). Profit margins are more than 30% lower than last year (7.5% net profit margin). Buy Or Sell Opportunity • Feb 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to US$8.88. The fair value is estimated to be US$11.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.8% over the last 3 years. Earnings per share has declined by 9.3%. Revenue is forecast to grow by 4.8% in a year. Earnings are forecast to decline by 2.5% in the next year. Declared Dividend • Feb 02
Fourth quarter dividend of US$0.14 announced Shareholders will receive a dividend of US$0.14. Ex-date: 10th February 2025 Payment date: 10th March 2025 Dividend yield will be 13%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (109% earnings payout ratio). However, it is covered by cash flows (78% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 21% to bring the payout ratio under control. However, EPS is expected to remain steady over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. Annuncio • Jan 31
Marine Products Corporation Announces Board Resignations Marine Products Corporation announced that in order to facilitate the declassification of the Company’s Board of Directors, it is expected that each of Gary W. Rollins, Richard A. Hubbell, John F. Wilson, Timothy C. Rollins, Pamela R. Rollins, Susan R. Bell and Amy R. Kreisler will tender his or her resignation from the Board of Directors immediately following the filing of the Amended and Restated Certificate of Incorporation with the Secretary of State of Delaware that effects the declassification, solely for the purpose of shortening their terms as directors of the Company in order that each such director may then be reappointed to the Board for a one-year term that will expire at the 2026 Annual Meeting. Reported Earnings • Jan 30
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$0.52 (down from US$1.21 in FY 2023). Revenue: US$236.6m (down 38% from FY 2023). Net income: US$17.9m (down 57% from FY 2023). Profit margin: 7.5% (down from 11% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 19%. Over the last 3 years on average, earnings per share has fallen by 9% per year and the company’s share price has also fallen by 9% per year. Annuncio • Jan 30
Marine Products Corporation Declares Regular Quarterly Dividend, Payable on March 10, 2025 Marine Products Corporation announced the board of directors declared a regular quarterly dividend of $0.14 per share, payable on March 10, 2025, to common stockholders of record at the close of business on February 10, 2025. Annuncio • Jan 08
Marine Products Corporation to Report Q4, 2024 Results on Jan 30, 2025 Marine Products Corporation announced that they will report Q4, 2024 results Pre-Market on Jan 30, 2025 Buy Or Sell Opportunity • Dec 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.2% to US$9.15. The fair value is estimated to be US$11.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to decline by 5.6% in a year. Earnings are forecast to decline by 12% in the next year. Declared Dividend • Oct 27
Third quarter dividend of US$0.14 announced Shareholders will receive a dividend of US$0.14. Ex-date: 8th November 2024 Payment date: 10th December 2024 Dividend yield will be 13%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (102% earnings payout ratio). However, it is covered by cash flows (54% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 13% to bring the payout ratio under control. However, EPS is expected to decline by 1.1% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • Oct 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.4% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (107% payout ratio). Profit margins are more than 30% lower than last year (7.0% net profit margin). Buy Or Sell Opportunity • Oct 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to US$9.40. The fair value is estimated to be US$11.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to decline by 5.6% in a year. Earnings are forecast to decline by 7.4% in the next year. Reported Earnings • Oct 24
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: US$0.098 (down from US$0.30 in 3Q 2023). Revenue: US$49.9m (down 36% from 3Q 2023). Net income: US$3.40m (down 67% from 3Q 2023). Profit margin: 6.8% (down from 13% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) exceeded analyst estimates by 25%. Revenue is expected to decline by 1.3% p.a. on average during the next 2 years, while revenues in the Leisure industry in the US are expected to grow by 2.9%. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Annuncio • Oct 24
Marine Products Corporation Declares Regular Quarterly Dividend, Payable on December 10, 2024 The Board of Directors of Marine Products Corporation declared a regular quarterly dividend of $0.14 per share payable on December 10, 2024, to common stockholders of record at the close of business on November 11, 2024. Annuncio • Oct 08
Marine Products Corporation to Report Q3, 2024 Results on Oct 24, 2024 Marine Products Corporation announced that they will report Q3, 2024 results Pre-Market on Oct 24, 2024 Price Target Changed • Aug 11
Price target decreased by 28% to US$8.00 Down from US$11.14, the current price target is provided by 1 analyst. New target price is 14% below last closing price of US$9.27. Stock is down 47% over the past year. The company is forecast to post earnings per share of US$0.42 for next year compared to US$1.21 last year. Declared Dividend • Jul 28
Second quarter dividend of US$0.14 announced Shareholders will receive a dividend of US$0.14. Ex-date: 9th August 2024 Payment date: 10th September 2024 Dividend yield will be 12%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by both earnings (74% earnings payout ratio) and cash flows (62% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 2.8% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 26
Second quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2024 results: EPS: US$0.16 (down from US$0.42 in 2Q 2023). Revenue: US$69.5m (down 40% from 2Q 2023). Net income: US$5.59m (down 61% from 2Q 2023). Profit margin: 8.0% (down from 12% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 2 years, compared to a 2.5% growth forecast for the Leisure industry in the US. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$10.38, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Leisure industry in the US. Total loss to shareholders of 25% over the past three years. Annuncio • Jul 11
Marine Products Corporation to Report Q2, 2024 Results on Jul 25, 2024 Marine Products Corporation announced that they will report Q2, 2024 results Pre-Market on Jul 25, 2024 New Risk • May 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 16% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 16% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Declared Dividend • Apr 28
First quarter dividend of US$0.14 announced Dividend of US$0.14 is the same as last year. Ex-date: 9th May 2024 Payment date: 10th June 2024 Dividend yield will be 4.9%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 4.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Apr 27
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to US$11.50. The fair value is estimated to be US$9.44, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 19%. Annuncio • Apr 26
Marine Products Corporation Declares Regular Quarterly Dividend, Payable on June 10, 2024 Marine Products Corporation Board of Directors declared a regular quarterly dividend of $0.14 per share, payable on June 10, 2024, to common stockholders of record at the close of business on May 10, 2024. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: US$0.13 (vs US$0.34 in 1Q 2023) First quarter 2024 results: EPS: US$0.13 (down from US$0.34 in 1Q 2023). Revenue: US$69.3m (down 42% from 1Q 2023). Net income: US$4.60m (down 60% from 1Q 2023). Profit margin: 6.6% (down from 9.7% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Annuncio • Apr 06
Marine Products Corporation to Report Q1, 2024 Results on Apr 25, 2024 Marine Products Corporation announced that they will report Q1, 2024 results Pre-Market on Apr 25, 2024 Annuncio • Mar 16
Marine Products Corporation, Annual General Meeting, Apr 23, 2024 Marine Products Corporation, Annual General Meeting, Apr 23, 2024, at 12:00 Eastern Daylight. Location: 2170 Piedmont Road, NE Atlanta, Georgia Atlanta Georgia United States Agenda: To elect the three Class II nominees identified in the attached Proxy Statement to the Board of Directors; to ratify the appointment of Grant Thornton LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2024; to approve the 2024 Stock Incentive Plan; and to consider and act upon such other business as may properly come before the Annual Meeting or any adjournment of the meeting. Reported Earnings • Mar 04
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: US$1.21 (up from US$1.18 in FY 2022). Revenue: US$383.7m (flat on FY 2022). Net income: US$41.7m (up 3.3% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 01
Upcoming dividend of US$0.14 per share at 5.5% yield Eligible shareholders must have bought the stock before 08 February 2024. Payment date: 11 March 2024. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 5.5%. Within top quartile of American dividend payers (4.6%). Higher than average of industry peers (3.2%). Declared Dividend • Jan 29
Fourth quarter dividend of US$0.14 announced Dividend of US$0.14 is the same as last year. Ex-date: 8th February 2024 Payment date: 11th March 2024 Dividend yield will be 5.2%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (46% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Reported Earnings • Jan 26
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: US$1.21 (up from US$1.18 in FY 2022). Revenue: US$383.7m (flat on FY 2022). Net income: US$41.7m (up 3.3% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Annuncio • Jan 25
Marine Products Corporation Declares Regular Quarterly Cash Dividend, Payable on March 11, 2024 Marine Products Corporation announced Board of Directors declared a regular quarterly cash dividend of $0.14 per share, payable March 11, 2024, to common stockholders of record at the close of business on February 9, 2024. Annuncio • Jan 10
Marine Products Corporation to Report Q4, 2023 Results on Jan 25, 2024 Marine Products Corporation announced that they will report Q4, 2023 results Pre-Market on Jan 25, 2024 Upcoming Dividend • Nov 02
Upcoming dividend of US$0.14 per share at 5.7% yield Eligible shareholders must have bought the stock before 09 November 2023. Payment date: 11 December 2023. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 5.7%. Within top quartile of American dividend payers (5.3%). Higher than average of industry peers (3.6%). Price Target Changed • Oct 31
Price target decreased by 28% to US$11.14 Down from US$15.50, the current price target is provided by 1 analyst. New target price is 14% above last closing price of US$9.74. Stock is down 6.7% over the past year. The company is forecast to post earnings per share of US$1.45 for next year compared to US$1.18 last year. New Risk • Oct 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 7.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 7.0% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Annuncio • Oct 05
Marine Products Corporation to Report Q3, 2023 Results on Oct 25, 2023 Marine Products Corporation announced that they will report Q3, 2023 results Pre-Market on Oct 25, 2023 Upcoming Dividend • Aug 02
Upcoming dividend of US$0.14 per share at 3.5% yield Eligible shareholders must have bought the stock before 09 August 2023. Payment date: 11 September 2023. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (2.7%). Annuncio • Jul 27
Marine Products Corporation Declares Regular Quarterly Cash Dividend, Payable September 11, 2023 Marine Products Corporation announced that its Board of Directors declared a regular quarterly cash dividend of $0.14 per share payable September 11, 2023 to common stockholders of record at the close of business on August 10, 2023. Reported Earnings • Jul 26
Second quarter 2023 earnings released: EPS: US$0.42 (vs US$0.29 in 2Q 2022) Second quarter 2023 results: EPS: US$0.42 (up from US$0.29 in 2Q 2022). Revenue: US$116.2m (up 21% from 2Q 2022). Net income: US$14.3m (up 44% from 2Q 2022). Profit margin: 12% (up from 10% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Annuncio • Jul 06
Marine Products Corporation to Report Q2, 2023 Results on Jul 26, 2023 Marine Products Corporation announced that they will report Q2, 2023 results Pre-Market on Jul 26, 2023 Upcoming Dividend • May 02
Upcoming dividend of US$0.14 per share at 4.0% yield Eligible shareholders must have bought the stock before 09 May 2023. Payment date: 09 June 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of American dividend payers (5.0%). Higher than average of industry peers (3.0%). Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: US$0.34 (vs US$0.21 in 1Q 2022) First quarter 2023 results: EPS: US$0.34 (up from US$0.21 in 1Q 2022). Revenue: US$118.9m (up 55% from 1Q 2022). Net income: US$11.5m (up 64% from 1Q 2022). Profit margin: 9.7% (in line with 1Q 2022). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 02
Full year 2022 earnings released: EPS: US$1.18 (vs US$0.85 in FY 2021) Full year 2022 results: EPS: US$1.18 (up from US$0.85 in FY 2021). Revenue: US$381.0m (up 28% from FY 2021). Net income: US$40.3m (up 39% from FY 2021). Profit margin: 11% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buying Opportunity • Feb 10
Now 21% undervalued Over the last 90 days, the stock is up 15%. The fair value is estimated to be US$16.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 20%. 