Atlanta-based Marine Products (NYSE:MPX), a manufacturer of fiberglass boats under the Chaparral and Robalo brands, reported financial results for the fourth quarter and full year ended December 31, 2025.
Fourth-quarter net sales increased 35% year-over-year to $64.6 million.
Net income was $2.4 million, or $0.07 per diluted share, down 45% from the prior year.
Adjusted net income was $3.4 million, or $0.10 per diluted share.
EBITDA totaled $4.5 million, representing a 7% margin.
For the full year, net sales rose 3% to $244.4 million.
The company ended the quarter with $43.5 million in cash, no debt, and generated $14.9 million in free cash flow year-to-date.
Dividends paid totaled $19.6 million during 2025.
Marine Products also disclosed a pending combination with MasterCraft, which is expected to create a stronger platform in the premium recreational boating market.