Marine Products designs and manufactures fiberglass recreational powerboats under two brands: Chaparral, which covers sport boats ranging from entry-level runabouts to luxury bowriders and wake-surf boats, and Robalo, which covers outboard sport fishing boats including center consoles, bay boats, and dual consoles. Marine Products sells through a network of roughly 192 domestic and 84 international independent dealers rather than directly to consumers. Revenue is driven by the number of boats shipped to dealers and the average selling price per boat. Marine Products generally builds to order based on dealer demand rather than stocking inventory, which gives management flexibility to manage costs but also makes revenue sensitive to dealer ordering patterns. About 76% of domestic shipments are made under floor plan financing arrangements, where third-party lenders pay Marine Products directly upon delivery and dealers repay the lender upon retail sale, allowing Marine Products to collect cash quickly. All manufacturing is done at a single facility in Nashville, Georgia. The business is capital-intensive and fixed-cost-heavy, so production volume has an outsized effect on margins — when volume runs below capacity, fixed costs compress gross margins. The business is highly cyclical, tied to consumer sentiment, disposable income, and interest rates. Seasonality is meaningful, with Q2 typically the strongest quarter. In February 2026, Marine Products announced a merger agreement with MasterCraft, under which Marine Products shareholders will receive 0.232 MasterCraft shares plus $2.43 in cash per share, subject to shareholder and regulatory approvals.