Marine Products Corp: Rises after Q2 profit, revenue beat

Marine Products

24/07/2019 14:37

** Shares of fiberglass boats maker Marine Products Corp
 MPX.N  surge 9.5% to $14.48 
    ** Co beats Q2 profit and revenue estimates of 2 analysts -
IBES Refinitiv data
    ** Co posts profit of 27 cents/shr vs est. of 21 cents/shr
    ** Net sales rose 1.9% to $88.70 mln, beating est. of $81.16
mln
    ** MPX has beaten EPS and rev estimates for 2 straight qrtrs
    ** 2019 retail selling season has been strong - CEO Richard
Hubbell
    ** Up to Tuesday's close, stock had lost ~22% YTD

 (Reporting by Debroop Roy in Bengaluru)
 ((Reuters Messaging:
debroop.roy.thomsonreuters.com@reuters.net))