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 reported its fiscal 2020 fourth quarter results, revealing a sales decline of 18% year-over-year, totaling $59.4 million. The company recorded a net loss of $(1.8 million) or $(0.13) per share, compared to a net loss of $(0.8 million) in the prior year. Gross profit margin improved by 60 basis points to 23.3%. Despite challenging conditions from COVID-19 and weak oil markets, Veth Propulsion saw a 6.2% sales increase. The company has implemented $7.2 million in annualized expense reductions and generated $4.3 million in cash from operations, showcasing efforts to mitigate impacts during this crisis.
Twin Disc, Inc. (NASDAQ: TWIN) is set to announce its fiscal 2020 fourth-quarter financial results before market open on August 7, 2020. A conference call scheduled for 11:00 a.m. ET on the same day will provide insights into the results and allow for Q&A. Participants can join by dialing (866) 548-4713. A replay will be available after the call until August 14, 2020. Twin Disc specializes in marine and heavy-duty off-highway power transmission equipment, serving multiple markets including military and commercial marine.
Twin Disc, Inc. (NASDAQ: TWIN) will hold a special investor conference call on July 7, 2020, at 11:00 a.m. ET to update stakeholders on the impact of COVID-19, following their fiscal 2020 third-quarter conference call. Interested parties can join by calling 800-289-0438. The call will also be streamed live on Twin Disc's website, with a replay available until July 14, 2020. The company specializes in manufacturing marine and heavy-duty off-highway power transmission equipment for various markets, including military and commercial marine.
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