Chaparral is built in Georgia by its publicly traded parent company, Marine Products Corp. Founder Buck Pegg and president Jim Lane have led the company since its inception in 1977. Chaparral builds seven models, including sportboats, sport decks, towboats, cruisers and sport yachts.
Sterndrive sales continue to drop, though outboard models have increased.
The record quarter is a mixed bag: Units sold down 7 percent, price per unit up 10 percent.
But the parent of Chaparral and Robalo said demand for smaller boats dropped while labor costs rose.
Polaris and Marine Products Corp. were dropped from “buy” to “neutral,” and “buy” to “sell,” respectively.
Parent company of Chaparral and Robalo is ranked at 73.
The parent of Robalo and Chaparral said its order backlog is higher than a year ago, reflecting dealer optimism about 2019 market demand.
Marine Products Corp. generated net sales of about $5.9 million, a 6.9-percent increase over last year’s earnings of just over $5.5 million.
Chaparral Boats and Robalo Boats awarded $60,000 in college scholarships to six graduating seniors.
Chaparral Boats teamed with Volvo Penta to open the Surf Expo 2016 with a private demonstration of a wakesurf boat that Chaparral recently introduced.
Chaparral Boats will be the first to offer Malibu Boat’s wake-surf technology on sterndrive boats.