Marine Products Corporation (MPX) Financial Statements (2024 and earlier)

Company Profile

Business Address 2801 BUFORD HIGHWAY NE, SUITE 300
ATLANTA, GA 30329
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 373 - Ship And Boat Building And Repairing (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments    31,57319,80411,711
Cash and cash equivalents    31,57319,8048,745
Short-term investments      2,966
Receivables2,8365,3683,2724,7067,5144,324
Inventory, net of allowances, customer advances and progress billings61,61173,01573,26142,31041,55346,770
Inventory61,61173,01573,26142,31041,55346,770
Other undisclosed current assets74,79946,61516,5761,9472,0561,795
Total current assets:139,246124,99893,10980,53670,92764,600
Noncurrent Assets
Operating lease, right-of-use asset 295    
Property, plant and equipment22,45614,96514,37014,93814,79614,552
Long-term investments and receivables     4,699
Long-term investments      4,699
Accounts and financing receivable, after allowance for credit loss      
Intangible assets, net (including goodwill)3,7733,7733,7733,7733,7733,773
Goodwill3,3083,3083,3083,3083,3083,308
Intangible assets, net (excluding goodwill)465465465465465465
Deferred income tax assets8,5906,0274,3924,0753,990
Other noncurrent assets4,35813,95217,19716,10011,2789,931
Other undisclosed noncurrent assets15,084    3,325
Total noncurrent assets:54,55638,71739,73238,88633,83736,280
TOTAL ASSETS:193,802163,715132,841119,422104,764100,880
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities22,56723,59015,54217,12513,03014,124
Employee-related liabilities3,1194,4583,0213,257
Accounts payable6,0718,2506,7716,0793,8864,673
Accrued liabilities16,49615,3405,6526,5886,1236,194
Deferred revenue   1,3131,245295
Other undisclosed current liabilities   1,2143,2923,7164,043
Total current liabilities:22,56723,59018,06921,66217,04118,167
Noncurrent Liabilities
Liabilities, other than long-term debt19,64715,74416,24713,24110,5117,501
Liability, pension and other postretirement and postemployment benefits17,99814,44015,56412,5249,9807,045
Other liabilities1,6491,304683717531456
Total noncurrent liabilities:19,64715,74416,24713,24110,5117,501
Total liabilities:42,21439,33434,31634,90327,55225,668
Equity
Equity, attributable to parent151,588124,38198,52584,51977,21275,212
Common stock3,4473,4223,3993,3873,3873,433
Accumulated other comprehensive loss  (1,995)(2,576)(1,947)(2,748)(2,175)
Retained earnings148,141122,95497,70283,07976,57373,954
Total equity:151,588124,38198,52584,51977,21275,212
TOTAL LIABILITIES AND EQUITY:193,802163,715132,841119,422104,764100,880

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues383,729380,995298,014239,825292,136298,616
Cost of revenue
(Cost of Goods and Services Sold)
(293,350)(287,278)(229,742)(186,220)(226,742)(232,293)
Gross profit:90,37993,71768,27253,60565,39466,323
Operating expenses(41,177)(41,921)(31,880)(29,244)(31,259)(30,936)
Operating income:49,20251,79636,39224,36134,13535,387
Nonoperating income
(Investment Income, Nonoperating)
2,8603381695323268
Income from continuing operations before income taxes:52,06252,13436,40824,45634,45835,655
Income tax expense(10,367)(11,787)(7,382)(5,012)(6,219)(7,167)
Income from continuing operations:41,69540,34729,02619,44428,23928,488
Income before gain (loss) on sale of properties:29,02619,44428,23928,488
Net income attributable to parent:41,69540,34729,02619,44428,23928,488
Other undisclosed net loss available to common stockholders, basic(999)(858)(566)(416)(669)(762)
Net income available to common stockholders, diluted:40,69639,48928,46019,02827,57027,726

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:41,69540,34729,02619,44428,23928,488
Other comprehensive income (loss)    801(573)(195)
Comprehensive income:41,69540,34729,02620,24527,66628,293
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1,995581(629) 414 
Comprehensive income, net of tax, attributable to parent:43,69040,92828,39720,24528,08028,293

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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