Marine Products Corp., the builder of Chaparral and Robalo boats, released its third-quarter financial results. Net sales were up 7% to $53.1 million year-over-year. The company said the increase was primarily due to a price/mix increase of 7%, offset by a slight decrease in the number of boats sold.
Field inventories have returned to more balanced levels, as retail sales have exceeded wholesale shipments. The company’s field unit inventory at the end of the quarter was approximately 6% below the prior-year quarter.
“Third quarter results reflect an increase in sales from the prior-year period,” president and CEO Ben M. Palmer said in a statement. “We are cautiously optimistic that we’ve reached a turning point in the industry, as dealer inventory has adjusted to stabilizing demand. We are encouraged by the strong interest in our larger boats and initial positive feedback on our 2026 model year offerings; however, finance buyers continue to be more restrained.”
Gross profit was $10.2 million, up 11% year-over-year, and gross margin was 19.2%, up 80 basis points. Gross margin improved with targeted incentives and stabilized production schedules, resulting in improved manufacturing cost absorption, the company said.
The board of directors declared a regular cash quarterly dividend of $0.14 per share.
