Marine Products Corporation (MPX) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and thank you for joining us for Marine Products Corporation's third quarter 2024 Financial Earnings Conference call. Today's call will be hosted by Ben Palmer, President and CEO, and Mike Schmidt, Chief Financial Officer. At this time, all participants are in 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 the number of known and unknown risks. Please refer to our press release issued today along with our 2023 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. Today's 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, and thank you all for joining our call. Third quarter results remained negative compared to prior year, as we had signaled they would in a very difficult demand environment. We and our peers in the marine industry continue to navigate a tough period, managing costs and production as best we can until consumer demand picks up. There have been some minor positive developments regar...