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 (NASDAQ: TWIN) regularly issues news and updates related to its role in designing, manufacturing, and selling marine and heavy-duty off-highway power transmission equipment. Company news often highlights developments across its marine transmissions, azimuth drives, surface drives, propellers, boat management systems, power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, control systems, and braking systems.
Investors following Twin Disc news can expect coverage of quarterly and annual financial results, as reflected in press releases discussing performance by product group, including Marine and Propulsion Systems, Land-Based Transmissions, Industrial, and Other. These releases may include commentary from management on demand trends in pleasure craft, commercial and military marine markets, as well as in energy and natural resources, government, military, and industrial markets.
News items also describe activities such as conference presentations and investor meetings, where Twin Disc’s executive officers present materials to analysts and shareholders. Additional announcements may cover board and governance matters, including dividend declarations and outcomes of shareholder meetings as disclosed in company communications.
This news page aggregates these company-issued updates so that readers can review Twin Disc’s latest reported results, corporate actions, and investor-related events in one place. For anyone tracking the TWIN stock story, the news feed provides a centralized view of how the company describes its operations, markets, and financial performance over time.
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.
In the first quarter of fiscal 2022, Twin Disc reported sales of $47.8 million, a 3.4% increase from $46.2 million in the previous year, attributed to recovering demand in the global oil, gas, industrial, and marine markets. Operating cash flow and a facility sale reduced net debt to $9.8 million, the lowest in over three years. A 22.5% increase in backlog to $86.1 million signals positive trends. Gross profit margin improved to 28.2% due to higher sales and cost reduction initiatives, while net income reached $1.9 million, or $0.14 per share, reversing a net loss from the prior year.
Twin Disc, Inc. (NASDAQ: TWIN) will release its fiscal 2022 Q1 financial results on October 29, 2021, before market open. A related conference call is scheduled for 11:00 a.m. ET on the same day, where management will discuss the results and address questions. Interested parties can join the call by dialing 877-407-9039. A replay will be available from 2:00 p.m. ET on October 29 until November 5, 2021. Twin Disc specializes in marine and heavy-duty off-highway power transmission equipment.
Twin Disc, Inc. (NASDAQ: TWIN) has announced that its authorized sales and service providers will now offer Veth Propulsion's azimuth rudder propellers, thrusters, and marine electronics across North America. This strategic move aims to enhance market opportunities within the marine industry. Key distributors include Palmer Johnson Power Systems in the Western U.S. and Canada, Great Lakes Power Systems in the Eastern U.S., and Sewart Supply in the Gulf Region. Veth, a subsidiary of Twin Disc since 2018, has a strong history of innovative installations in various vessel types.
Twin Disc reported a fourth quarter sales increase of 11.5% year-over-year, reaching $66.2 million, driven by rising demand in oil and gas, industrial, and marine sectors. Gross profit margin improved by 440 basis points to 27.7%. Despite a net loss of $12.7 million for the quarter, the company achieved its lowest net debt in three years at $19.7 million. Restructuring actions are set to deliver approximately $2 million in annual savings. With a six-month backlog of $70.3 million, management is optimistic about recovery as they focus on modernizing operations and new product development.
Twin Disc, Inc. (NASDAQ: TWIN) announced it will release its fiscal 2021 fourth-quarter financial results on August 13, 2021, before market opening. A conference call to discuss these results will take place at 11:00 a.m. Eastern Time on the same day. Participants can join by dialing 800-263-0877. The call will also be available via live Internet broadcast on Twin Disc’s website and will be archived afterward. The company specializes in power transmission equipment for marine and heavy-duty off-highway applications.
Twin Disc, Inc. (NASDAQ: TWIN) reported its fiscal 2021 third-quarter results, revealing a 16% decline in sales to $57.6 million compared to $68.6 million last year, primarily due to COVID-19 impacts. Despite lower sales, the company achieved profitability with a net income of $0.1 million, a major recovery from a net loss of $(25.2 million) the previous year. Operating cash flow increased to $2.2 million, and the backlog rose to $71.4 million. Gross profit margin showed slight improvement at 24.2%.
Twin Disc, Inc. (NASDAQ: TWIN) will release its fiscal 2021 third-quarter financial results on April 30, 2021, before market opening. A conference call is scheduled for the same day at 11:00 a.m. ET to discuss the results and answer questions. Participants can join by phone or via the company's website. Twin Disc designs and manufactures power transmission equipment for various markets, including marine and industrial sectors. The company's forward-looking statements are subject to risks, including those related to the ongoing COVID-19 pandemic.