Marine Products Corporation (MPX) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and thank you for joining us for Marine Products Corporation fourth quarter and year end 2024 financial earnings conference call. Today's call will be hosted by Penn Palmer, President and CEO, and Mike Smith, 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 a number of known and unknown risks. Please refer to our press release issued today along with our 2023 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, the most directly comparable GAAP measures. I'll now turn the call over to our President and CEO, Ben Palmer. Thank you, Mike, and thank you all for joining our call. Apologize for the issues we've had there. Fourth quarter results were negative compared to prior year. However, we are seeing early signs of stabilization and a path to turning the corner toward growth later this year. The marine industry continues to push through a lackluster period. Sentiment remains cautious, but perhaps best charact...