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. 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.
Twin Disc, Inc. (NASDAQ: TWIN) reported its fiscal 2021 second quarter results with net sales at $48.4 million, an 18.6% decrease from last year, attributed mainly to the ongoing impacts of the COVID-19 crisis in oil and gas, industrial, and marine markets. Despite the challenges, the company's six-month backlog increased to $74.9 million, a 12% rise from June 2020. Operating cash flow was positive at $3.5 million. Gross profit margin dropped to 19.6%, while marketing, engineering, and administrative expenses decreased to $14.0 million. The company reported a net loss of $(4.3 million) for the quarter, but is optimistic about future demand improvements.