Twin Disc Inc Stock Price, News & Analysis

Twin Disc, Inc. (NASDAQ: TWIN) announced its fiscal 2023 third-quarter results will be released on April 28, 2023, at 9:30 am Eastern. The company will also host a webcast and conference call at 11:00 am Eastern to discuss the results, followed by a Q&A session with investors. The live audio webcast can be accessed on Twin Disc’s website, and those wishing to participate by phone should dial 877-407-9039 ten minutes prior to the call. A replay will be accessible shortly after the discussion until April 27, 2024. Twin Disc specializes in designing and manufacturing marine and heavy-duty off-highway power transmission equipment, with a diverse range of products for various markets.

Twin Disc reported a 5.8% increase in second quarter sales year-over-year, reaching $63.4 million. Net income improved to $1.1 million from a loss of ($3.8 million) in the same quarter last year. EBITDA stood at $6.3 million, marking a significant recovery from a loss of ($0.2 million) in the prior year. A six-month backlog at $124.0 million indicates strong demand, up 22.5% from June 30, 2022. However, foreign currency exchange impacts sales negatively by $5.0 million this quarter. Management remains optimistic, predicting further growth and higher profitability through fiscal 2023.

Twin Disc, Inc. (NASDAQ: TWIN) will announce its fiscal 2023 second-quarter financial results on February 3, 2023, before market opens. A conference call is scheduled for 11:00 a.m. ET the same day, allowing analysts and investors to discuss these results and ask questions. Interested listeners can join by calling 877-407-9039, with a replay available until midnight February 10, 2023. The call will also be live-streamed on Twin Disc’s website. The company specializes in marine and heavy-duty off-highway power transmission equipment, serving various markets including military, energy, and industrial sectors.

In the first quarter of fiscal 2023, Twin Disc (TWIN) reported sales of $55.9 million, a 17.1% increase from $47.8 million year-over-year. The backlog reached $108.9 million, rising 7.6% from June 30, 2022. Challenges included a $4.8 million negative impact from foreign exchange rates and ongoing supply chain issues. Gross profit margin decreased to 23.8% from 28.2% a year ago. The net loss for the quarter was ($2.0) million, or ($0.15) per share, compared to net income of $1.9 million, or $0.14 per share, in the prior year. Management anticipates improved results throughout fiscal 2023.

Twin Disc, Inc. (NASDAQ: TWIN) is set to release its fiscal 2023 first-quarter financial results on November 4, 2022, before market opening. A conference call is scheduled for 11:00 a.m. ET that day to discuss the results and answer questions. Interested participants can dial 877-407-9039 to join. The call will also be available via webcast on the company's website, with replay options from 2:00 p.m. ET that day until midnight November 11, 2022. The company specializes in marine and heavy-duty off-highway power transmission equipment.

Twin Disc, Inc. (NASDAQ: TWIN) has announced a new 8,100 square foot office lease in Milwaukee, WI, aimed at optimizing its assets. The relocation will accommodate around 25 employees and is set for early 2023, following the tentative sale of its current location in Racine. CEO John Batten emphasized that this move aligns with reducing the company's footprint and increasing shareholder value. Twin Disc will maintain its manufacturing operations in Racine and continue distribution at its Sturtevant facility, focusing on marine and industrial power transmission products.

Twin Disc, Inc. has announced the sale of its facility in Nivelles, Belgium for €6.95 million. The 390,000 ft² property will also include a two-year renewable lease-back agreement, allowing for a smoother transition to a smaller facility. This move is part of Twin Disc's ongoing asset optimization strategy, aiming to enhance efficiency and sustainability. The company continues to invest in modernizing its global facilities, with plans for a new facility in Belgium.

Twin Disc reported a fourth quarter sales increase of 14.8% year-over-year, totaling $76.0 million. Gross margin improved by 410 basis points to 31.8%, leading to a net income of $7.8 million or $0.58 per diluted share. The six-month backlog grew 44.0% year-over-year, reaching $101.2 million, driven by robust demand in oil and gas markets. Despite challenges from global supply chains and foreign currency impacts, operational efficiencies and strategic pricing initiatives bolstered profitability. Management anticipates continued growth in fiscal 2023.