Welcome to our dedicated page for Twin Disc news (Ticker: TWIN), a resource for investors and traders seeking the latest updates and insights on Twin Disc stock.
Twin Disc Incorporated (TWIN) delivers critical power transmission solutions for marine, industrial, and heavy-duty machinery worldwide. This news hub provides investors and industry professionals with timely updates on corporate developments, operational milestones, and strategic initiatives shaping the company's trajectory.
Access comprehensive coverage of TWIN's press releases, earnings reports, product innovations, and partnership announcements. Our curated collection serves as your primary resource for understanding Twin Disc's market position within the marine propulsion and off-highway equipment sectors.
Key updates include technical advancements in hydraulic torque converters, marine transmission systems, and industrial clutch technologies. Track regulatory filings, leadership changes, and global expansion efforts through verified sources maintained for accuracy and relevance.
Bookmark this page for streamlined access to Twin Disc's evolving story – from engineering breakthroughs to sustainability initiatives driving modern industrial applications. Stay informed through our continuously updated repository of official communications and third-party analysis.
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.
Twin Disc, Inc. (NASDAQ: TWIN) will announce its fiscal 2022 fourth-quarter financial results before market opens on September 1, 2022. The company will host a conference call at 11:00 a.m. ET on the same day to discuss the results and answer questions. Interested participants can join by dialing 877-407-9039 or listening live on their website. A replay will be available from 2:00 p.m. ET on September 1 until midnight September 8, 2022. Twin Disc designs and manufactures equipment for marine and off-highway power transmission markets.
Twin Disc, Inc. (NASDAQ: TWIN) has appointed Kevin Olsen to its Board of Directors as of August 8, 2022. Olsen, currently the CEO of Dorman Products, brings substantial experience in executive leadership and financial management from his tenure at various esteemed organizations. His previous role as CFO at Dorman and diverse experiences at Colfax and Danaher enhance his qualifications.
CEO John H. Batten expressed confidence that Olsen's expertise will positively impact Twin Disc and its shareholders, assisting the company in navigating future challenges.
Twin Disc reported Q3 fiscal 2022 sales of $59.3 million, a 2.9% increase year-over-year. Gross margin improved significantly to 29.8%, up 560 basis points from last year, driven by better efficiency and strategic pricing adjustments. The backlog reached $108.9 million, indicating strong demand despite ongoing supply chain challenges. Year-to-date sales rose 9.6% to $166.9 million. However, foreign exchange fluctuations negatively impacted sales by $3.0 million. The company remains optimistic about recovery in the oil and gas sector, anticipating a strong year ahead for sales growth.
Twin Disc, Inc. (NASDAQ: TWIN) announced it will release its fiscal 2022 third-quarter financial results before the market opens on April 29, 2022. A conference call will follow at 11:00 a.m. ET to discuss these results and answer questions. Participants can join by dialing 877-407-9039. The call will also be available via live internet broadcast, and a replay will be accessible from April 29 until May 6, 2022.
Twin Disc specializes in marine and heavy-duty off-highway power transmission equipment, serving various markets including pleasure craft and industrial sectors.
Twin Disc, Inc. has appointed Juliann Larimer to its Board of Directors, effective April 20, 2022. Larimer brings extensive experience in commercial excellence and technology leveraging, which is expected to significantly benefit Twin Disc and its shareholders. Previously, she served as President and CEO of Peak Technologies and held leadership roles at Zebra Technologies and Motorola Solutions. The appointment aims to enhance Twin Disc’s strategic direction in the marine and heavy-duty off-highway power transmission sectors.
Twin Disc, Inc. (NASDAQ: TWIN) announced the cessation of business activities in Russia and Belarus due to the ongoing invasion of Ukraine, effective immediately. This decision is a response to supply chain challenges and evolving sanctions. Sales and shipments to these regions have been paused, with minimal expected impact on financial results. Although there are no employees in Eastern Europe, the company will only conduct emergency business in Ukraine. Twin Disc emphasizes its commitment to monitoring the situation and ensuring the safety of all stakeholders involved.
Twin Disc, Inc. reported a 23.3% increase in second quarter sales, reaching $59.9 million compared to $48.6 million a year prior, driven by improving demand across oil, gas, and industrial markets. However, results were impacted by global supply chain challenges and a foreign currency exchange loss of $1.0 million. Six-month backlog surged to $98.9 million, the highest since August 2019. Despite operational challenges, management is optimistic about sustained growth and plans to invest $7 million to $10 million in capital expenditures in fiscal 2022.
Twin Disc, Inc. (NASDAQ: TWIN) will release its fiscal 2022 second-quarter financial results on February 2, 2022, before market opening. A conference call to discuss these results will take place at 11:00 a.m. ET the same day. Participants can join by calling 877-407-9039. A replay will be available from 2:00 p.m. ET on February 2 until midnight February 9. The call will also be streamed live via Twin Disc's website.
Twin Disc specializes in marine and heavy-duty off-highway power transmission equipment.
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