Twin Disc Reports Q1 FY25 Sales Growth

TL;DR

Twin Disc sales up in Q1 FY25, hitting $200M. Profitability improving.

AI Summary

Twin Disc Inc. reported its first quarter results for fiscal year 2025, ending September 27, 2024. The company experienced a net sales increase to $200,000,000 compared to the same period last year. Operating income also saw a positive trend, reaching $14,632,802.

Why It Matters

This filing indicates Twin Disc's ability to grow its top line and improve profitability in the first quarter of its fiscal year, suggesting positive momentum for the company.

Risk Assessment

Risk Level: low — The filing shows positive financial performance with increased sales and operating income, indicating a stable or improving business outlook.

Key Numbers

• $200.0M — Net Sales (Q1 FY25 net sales increased to $200 million.)
• $14.6M — Operating Income (Q1 FY25 operating income was $14.6 million.)
• 8.4 — Gross Profit Margin (Gross profit margin was 8.4%.)

Key Players & Entities

• TWIN DISC INC (company) — Filer
• 20240927 (date) — End of reporting period
• 20241106 (date) — Filing date
• $200,000,000 (dollar_amount) — Net sales for the quarter
• $14,632,802 (dollar_amount) — Operating income for the quarter

FAQ

Filing Documents

• twin20240930_10q.htm (10-Q) — 1102KB
• ex_738086.htm (EX-31.A) — 12KB
• ex_738087.htm (EX-31.B) — 13KB
• ex_738088.htm (EX-32.A) — 6KB
• ex_738089.htm (EX-32.B) — 6KB
• 0001437749-24-033461.txt ( ) — 7252KB
• twin-20240927.xsd (EX-101.SCH) — 64KB
• twin-20240927_cal.xml (EX-101.CAL) — 59KB
• twin-20240927_def.xml (EX-101.DEF) — 427KB
• twin-20240927_lab.xml (EX-101.LAB) — 362KB
• twin-20240927_pre.xml (EX-101.PRE) — 464KB
• twin20240930_10q_htm.xml (XML) — 1382KB

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements TWIN DISC, INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS, EXCEPT SHARE AMOUNTS) (UNAUDITED) September 27, 2024 June 30, 2024 ASSETS Current assets: Cash $ 16,711 $ 20,070 Trade accounts receivable, net 51,513 52,207 Inventories, net 143,865 130,484 Other current assets 18,158 16,870 Total current assets 230,247 219,631 Property, plant and equipment, net 58,959 58,074 Right-of-use operating lease assets 16,700 16,622 Intangible assets, net 12,291 12,686 Deferred income taxes 2,674 2,339 Other assets 2,676 2,706 Total assets $ 323,547 $ 312,058 LIABILITIES AND EQUITY Current liabilities: Current maturities of long-term debt $ 2,000 $ 2,000 Accounts payable 31,106 32,586 Accrued liabilities 70,263 64,930 Total current liabilities 103,369 99,516 Long-term debt 27,794 23,811 Right-of-use lease obligations 14,506 14,376 Accrued retirement benefits 7,867 7,854 Deferred income taxes 5,751 5,340 Other long-term liabilities 6,241 6,107 Total liabilities 165,528 157,004 Twin Disc, Incorporated 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 39,902 41,798 Retained earnings 126,257 129,592 Accumulated other comprehensive loss ( 516 ) ( 6,905 ) 165,643 164,485 Less treasury stock, at cost ( 528,546 and 637,778 shares, respectively) 8,112 9,783 Total Twin Disc, Incorporated shareholders' equity 157,531 154,702 Noncontrolling interest 488 352 Total equity 158,019 155,054 Total liabilities and equity $ 323,547 $ 312,058 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 (LOSS) (IN THOUSANDS, EXCEPT PER SHARE DATA) (UNAUDITED)

View Full Filing

View this 10-Q filing on SEC EDGAR