HOW DOES THE COMPANY MAKES MONEY?
Marine Products Corporation is a leading manufacturer of recreational fiberglass boats under three brand names: Chaparral, Robalo and Vortex.
Distributes Premium-Branded and Offering a wide range of products:
Chaparral Brand: Family recreational and cruiser markets – Sterndrive & Outboard Pleasure Boats
Vortex Brand: Jet Boat market – Jet Boats
Robalo Brand: Sport fishing market – Outboard Sport Fishing Boats
The Company continues to diversify its product lines through product innovation. With 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 to generate superior financial performance to build long-term shareholder value.
WHAT IS ONE THING UNIQUE ABOUT THIS COMPANY?
1. Debt-free Balance Sheet:
Among the most financially stable companies in Recreational Boating Industry.
No Short Term debt and No Long-term Debt
Debt to Equity Ratio = 0 across the years
“I want to emphasize that Marine Products is among the most financially stable companies in our industry. We maintain a variable cost structure which will allow us to maintain our liquid, debt-free balance sheet during this time. In addition, we do not believe that there will be any delays in payments for boats we have shipped to our dealers and retail customers, or any meaningful long-term deterioration in our supply chain. We will continue to provide updates regarding the resumption of our production operations as they become clear” concluded Richard A. Hubbell, Chief Executive Officer
PRESS RELEASE – ATLANTA, March 30, 2020 /PRNewswire/: Marine Products Corporation Announces Temporary Suspension of Production Operations
2. Market Share Leader for Sterndrive Recreational Boat Catergory and Outboard Category
Richard A. Hubbell, Marine Products’ President and Chief Executive Officer stated, “We decreased production during the first quarter of 2020 in order to reduce dealer inventories. We accomplished this goal, as dealer inventories are almost 10 percent lower at the end of the first quarter of 2020 compared to the prior year. I am pleased to report that Chaparral continues to be a market share leader in its sterndrive recreational boat category. Robalo also continues to be market share leader in the outboard category, and the combination of Chaparral and Robalo outboard models held the highest outboard boat market share in their size category.”
PRESS RELEASE – ATLANTA, April 29, 2020 /PRNewswire/: Marine Products Corporation Reports First Quarter 2020 Financial Results
3. Shares Repurchase – Stock buyback Program
Marine Products Corporation (NYSE: MPX) announced today that during the third quarter of 2020 it purchased 97,940 shares under its share repurchase program.
PRESS RELEASE – ATLANTA, Oct. 1, 2020/PRNewswire/: Marine Products Corporation Announces Third Quarter 2020 Share Repurchases
MPX continue to view open market share repurchases as important part of their capital allocation strategy and an important tool to increase overall shareholder return.
REVENUE TREND
The revenue / sales trend is growing and just slightly decreases in year 2019.
EARNINGS PER SHARE TREND
WHAT HAS IMPACTED THEIR PERFORMANCE RECENTLY? (BASED ON THE LATEST QUARTERLY REPORT)
DISCLOSURE
The above article is for educational purposes only. Under no circumstances does any information provided in the article represent a recommendation to buy, sell or hold any stocks/asset. In no event shall ViA or any Author be liable to any viewers, guests or third party for any damages of any kind arising out of the use of any content shared here including, without limitation, use of such content outside of its intended purpose of investor education, and any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages resulting from such unintended use.
