Skip to main content

Up Across the Board


Marine Products Corp. sold more boats at higher prices in the first quarter of 2021, compared with the same quarter last year, resulting in a 33 percent increase in net sales to $59.1 million.

The builder of Chaparral, Robalo and Vortex boats said in a statement that the primary driver for the increase was an 18 percent rise in the number of units sold and an average price that was 15.5 percent higher than a year prior.


Gross profit was up 52.5 percent to $18.4 million, and gross margin increased 23.6 percent, from 20.5 percent last year, the builder reported, pointing to increased production and its model mix.

Net income was up 92.4 percent to $8.1 million, compared with $4.2 million a year prior, and diluted earnings per share rose to $0.24, compared with $0.12 in the first quarter of 2020. Operating profit grew 106.5 percent to $10 million for the period.

President and CEO Richard A. Hubbell said that even with nearly all winter boat shows canceled, the company’s pivot to virtual and limited in-person events was successful.

“Our first quarter results reflect continued strong interest in recreational boating and the appeal of our products, as dealers continue to report strong retail demand in all of the markets,” Hubbell said in the statement. “We are looking forward to a very strong retail selling season, as our order backlog remains at historically high levels.”


Updated numbers for the 12 months ending Dec. 31, 2020, showed an increase in market share for Chaparral and Robalo boats; Chaparral sterndrives retain the second-highest market share in that category. However, concerns about getting finished models to dealers is a concern.

“We have started to experience supply chain disruptions, which will impact our second quarter production and sales growth,” Hubbell said. “We are working closely with our suppliers to understand these disruptions and manage our manufacturing processes, and we are communicating with our dealers and retail customers to manage their expectations and seek the best possible outcomes during this extraordinary time.”


Suntex Adds Superyacht Facility

The investment group adds Seahaven Marina, which can accommodate vessels up to 250 feet.

Newsweek Honors Brunswick Corp.

It’s the second consecutive year that the magazine named the corporation to its list of America’s Most Responsible Companies.

Southern Marinas Adds to its Portfolio

The company announced its acquisition of Tims Ford Marina and Resort in Winchester, Tenn., its seventh transaction this year.

Groupe Beneteau Acquires Portugal Facility

The builder adds the Rodman Lusitania shipyard to support demand for powerboats under 40 feet.

Digital Dealership Dashboard for Marine Dealers

The Parker Business Planning digital platform for marine dealers will be introduced next week at MRAA Dealer Week in Austin, Texas.

Back and Forth and Back Again

As the world waits for the pandemic and its economic effects to subside, a new virus variant emerges.

Suzuki Crew Cleans Florida Shoreline

Executives, staff and families removed more than 40 bags of trash from Florida’s Courtney Campbell Causeway as part of the company’s Clean Ocean Project.

Seattle Boat Show: Full Speed Ahead

The largest show in the Pacific Northwest is set for its 9-day run with a new location and robust seminar format for 2022.