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Twin Disc, Inc. (NASDAQ: TWIN) approved a quarterly cash dividend of $0.04 per share, payable on June 3, 2024, to shareholders of record on May 20, 2024. The company designs, manufactures, and sells marine and heavy-duty power transmission equipment for various industries.
Twin Disc, Inc. announced its fiscal 2024 third quarter results, showcasing a 50 basis points increase in sales to $74.2 million. The company reported a gross margin of 28.2%, net income of $3.8 million, and EBITDA of $7.0 million. Twin Disc's CEO highlighted the solid performance, margin expansion, and strong cash flow generation despite macroeconomic challenges. Sales increased in Europe, decreased in North America, and remained flat in Asia-Pacific. The company also announced the acquisition of Katsa Oy to broaden its offerings and global footprint. Third-quarter results included improved gross profit, increased ME&A expenses, and net income growth. EBITDA remained strong at $7.0 million, with a solid six-month backlog of $130.5 million. Twin Disc's balance sheet showed positive trends, with increased cash and decreased debt.