Marine Products Corporation (MPX) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

participants are listen-only mode. Following the presentation, we will conduct a question and answer session. Instructions will be provided at that time for you to queue up for questions. I would like to advise everyone that this conference call is being recorded. I will now turn the call over to Mr. Schmidt. Thank you, and good morning. Before we begin, I want to remind you that some of the statements that will be made on this call could be forward-looking in nature and reflect a number of known and unknown risks. Please refer to our press release issued today along with our 2024 10-K and other public filings that outline those risks, all of which can be found at www.marineproductscorp.com. In today's earnings release and conference call, we'll be referring to several non-GAAP measures of operating performance and liquidity. We believe these non-GAAP measures allow us to compare performance consistently over various periods. Our press release and our website contain reconciliations of these non-GAAP measures to the most directly comparable GAAP measures. I'll now turn the call over to our President and CEO, Ben Palmer. Thanks, Mike. Thank you for joining our call this morning. Second quarter sales were down slightly compared to the prior year. However, the year-over-year declines have moderated as our production levels have stabilized. While much uncertainty exists in the macro environment with tariffs, interest rates, and the general economy, we have seen positive signs including declining channel inventory. We are cautiously optimistic that the industry is working through excess inventory and built more certainty over model year 2026 pricing allows for better planning. Interest rates have remained elevated, and any sustained decrease could be another catalyst for ...