Marine Products (NYSE: MPX) reported Q1 EPS of $0.24, $0.05 better than the analyst estimate of $0.19. Revenue for the quarter came in at $78.38 million versus the consensus estimate of $74.34 million.

Richard A. Hubbell, Marine Products' President and Chief Executive Officer stated, "Our first quarter results reflect continued strong interest in recreational boating and the appeal of our products, as dealers continue to report strong retail demand in all of the markets. We generated strong sales across all our product lines. Although most of the winter boat shows were cancelled this year, our virtual and limited in-person marketing and sales efforts have been successful and we are looking forward to a very strong retail selling season, as our order backlog remains at historically high levels. We continue to be pleased by our growing market share. Updated statistics for the 12 months ended December 31, 2020 indicate that market share in our Robalo product line increased slightly, as did the combination of our Robalo and Chaparral outboard units. Market share within our Chaparral sterndrive models increased as well, and that product line continues to hold the second highest market share in its category.

"We are optimistic about the continued strength in the recreational boat market and our near-term financial results. However, like so many manufacturing businesses, we have started to experience supply chain disruptions which will impact our second quarter production and sales growth. We are working closely with our suppliers to understand these disruptions and manage our manufacturing processes, and we are communicating with our dealers and retail customers to manage their expectations and seek the best possible outcomes during this extraordinary time," concluded Hubbell.

For earnings history and earnings-related data on Marine Products (MPX) click here.