Marine Products Corporation Reports First Quarter 2020 Financial Results
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Marine Products (MPX) Reports Q1 EPS of $0.12, Revenues Miss
April 29, 2020 6:48 AM EDTMarine Products (NYSE: MPX) reported Q1 EPS of $0.12, versus $0.22 reported last year. Revenue for the quarter came in at $59.12 million versus the consensus estimate of $85.16 million.
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... More
