Marine Products Corp. Q3 Sales Climb 7 Percent
Marine Products Corp. reported a 7 percent increase in sales for the third quarter, driven by pricing actions and a favorable product mix, despite a slight decrease in the number of boats sold.
Profits declined due to investments in research and development.
“Third quarter results reflect an increase in sales from the prior year period,” stated Ben M. Palmer, Marine Products’ president and chief executive officer. “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.
Author summary: Marine Products Corp. sees 7% sales growth in Q3.