Marine Products Corporation (MPX) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and thank you for joining us for Marine Products Corporation's third quarter 2025 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'll 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 10K 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, and thank you all for joining our call. Third quarter sales were up 7% compared to the prior year, as the largest part of our destocking of channel inventory appears to be behind us, and production is off the lows we experienced in the second quarter of 2024. This is the first quarter of year-over-year growth in over two years. Macro and geopolitical risks remain and have added uncertainty to the m...