Marine Products Corporation, a manufacturer of Chaparral and Robalo fiberglass boats, announced its unaudited results for the third quarter ended September 30, 2025.

For the quarter, net sales increased 7% year-over-year to $53.1 million, while net income declined 22% to $2.7 million.

Gross profit was $10.2 million, up 11%, and gross margin was 19.2%, up 80 basis points versus the prior year period. The company stated that gross margin improved with targeted incentives and stabilized production schedules, improving manufacturing cost absorption.

EBITDA was $3.7 million, down 15% year-over-year. The company generated strong operating and free cash flow, ending the quarter with approximately $47.4 million in cash and no debt.

Selling, general and administrative (SG&A) expenses were $7.4 million, up 31% from the prior-year period, representing 13.9% of net sales. The increase in SG&A expenses was largely due to an increase in new product R&D investments, warranty cost adjustments and other expenses that typically vary with sales.