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 designs, manufactures and sells marine and heavy-duty off-highway power transmission equipment. Its products include marine transmissions, azimuth drives, surface drives, propellers, boat management systems, power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and control systems.
News about TWIN commonly covers quarterly operating results, product-group sales trends in Marine and Propulsion Systems, Land-Based Transmissions and Industrial, order backlog, defense-related demand, hybrid propulsion activity and manufacturing-footprint initiatives. Company updates also include regular quarterly cash dividend approvals, investor conference participation and demand trends across pleasure craft, commercial and military marine, energy and natural resources, government and industrial markets.
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.
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