Twin Disc Inc. Files 10-Q for Period Ending March 29, 2024

TL;DR

<b>Twin Disc Inc. reported $14.6 million in net income on $638,712 in revenue for the period ending March 29, 2024.</b>

AI Summary

TWIN DISC INC (TWIN) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Total assets reported at $200,000,000. Total debt stands at $30,000,000. Net income for the period was $14,632,802. Earnings per share (EPS) reported at $0.15. Revenue for the period was $638,712, with a growth of 814,734%.

Why It Matters

For investors and stakeholders tracking TWIN DISC INC, this filing contains several important signals. The filing provides a detailed financial snapshot of Twin Disc Inc.'s performance for the third quarter of fiscal year 2024. Investors can assess the company's asset base, debt levels, and profitability to make informed investment decisions.

Risk Assessment

Risk Level: medium — TWIN DISC INC shows moderate risk based on this filing. The significant revenue growth percentage (814,734%) appears to be an anomaly or a data entry error, making it difficult to assess the true operational performance without further clarification.

Analyst Insight

Investigate the reported revenue growth of 814,734% for any underlying operational changes or data discrepancies.

Financial Highlights

revenue

638,712

total Assets

200,000,000

total Debt

30,000,000

net Income

14,632,802

eps

0.15

revenue Growth

814,734%

Revenue Breakdown

Key Numbers

• 200,000,000 — Total Assets (As of March 29, 2024)
• 30,000,000 — Total Debt (As of March 29, 2024)
• 14,632,802 — Net Income (For the period ending March 29, 2024)
• 0.15 — EPS (For the period ending March 29, 2024)
• 638,712 — Revenue (For the period ending March 29, 2024)
• 814,734% — Revenue Growth (For the period ending March 29, 2024)

Key Players & Entities

• TWIN DISC INC (company) — Filer
• 2024-03-29 (date) — Period of report
• 2024-05-08 (date) — Filed as of date
• WI (location) — State of incorporation
• RACINE (location) — Business address city
• 2626384000 (phone) — Business phone

FAQ

Risk Factors

• Revenue Growth Anomaly [medium — financial]: The reported revenue growth of 814,734% for the period ending March 29, 2024, is exceptionally high and may indicate a data error or a highly unusual business event requiring further investigation.

Key Dates

• 2024-03-29: End of Reporting Period — Third quarter of fiscal year 2024
• 2024-05-08: Filing Date — Date the 10-Q was submitted to the SEC

Filing Documents

• twin20240331_10q.htm (10-Q) — 2106KB
• ex_662533.htm (EX-31.A) — 12KB
• ex_662532.htm (EX-31.B) — 13KB
• ex_662531.htm (EX-32.A) — 6KB
• ex_662534.htm (EX-32.B) — 6KB
• 0001437749-24-015219.txt (&nbsp;) — 12328KB
• twin-20240329.xsd (EX-101.SCH) — 67KB
• twin-20240329_cal.xml (EX-101.CAL) — 78KB
• twin-20240329_def.xml (EX-101.DEF) — 512KB
• twin-20240329_lab.xml (EX-101.LAB) — 402KB
• twin-20240329_pre.xml (EX-101.PRE) — 561KB
• twin20240331_10q_htm.xml (XML) — 3101KB

Financial Statements

Financial Statements TWIN DISC, INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS, EXCEPT SHARE AMOUNTS) (UNAUDITED) March 29, 2024 June 30, 2023 ASSETS Current assets: Cash $ 23,843 $ 13,263 Trade accounts receivable, net 40,950 54,760 Inventories 129,845 131,930 Assets held for sale 2,968 2,968 Prepaid expenses 10,471 8,459 Other 10,451 8,326 Total current assets 218,528 219,706 Property, plant and equipment, net 40,606 38,650 Right-of-use assets operating leases 14,498 13,133 Intangible assets, net 10,157 12,637 Deferred income taxes 2,210 2,244 Other assets 2,755 2,811 Total assets $ 288,754 $ 289,181 LIABILITIES AND EQUITY Current liabilities: Current maturities of long-term debt $ 2,000 $ 2,010 Accounts payable 33,230 36,499 Accrued liabilities 63,406 61,586 Total current liabilities 98,636 100,095 Long-term debt 15,042 16,617 Lease obligations 12,638 10,811 Accrued retirement benefits 6,707 7,608 Deferred income taxes 2,965 3,280 Other long-term liabilities 5,822 5,253 Total liabilities 141,810 143,664 Twin Disc shareholders' equity: Preferred shares authorized: 200,000 ; issued: none; no par value - - Common shares authorized: 30,000,000 ; issued: 14,632,802 ; no par value 40,428 42,855 Retained earnings 122,759 120,299 Accumulated other comprehensive loss ( 7,094 ) ( 5,570 ) 156,093 157,584 Less treasury stock, at cost ( 638,712 and 814,734 shares, respectively) 9,797 12,491 Total Twin Disc shareholders' equity 146,296 145,093 Noncontrolling interest 648 424 Total equity 146,944 145,517 Total liabilities and equity $ 288,754 $ 289,181 The notes to condensed consolidated financial statements are an integral part of these statements. 2 TWIN DISC, INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (IN THOUSANDS, EXCEPT PER SHARE DATA) (UNAUDITED) For the Quarter Ended For the Three Quar

View Full Filing

View this 10-Q filing on SEC EDGAR