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.
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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.