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.
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.
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.
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