Twin Disc reports Q1 fiscal 2023 sales up 17.1% to $55.9M, net loss of $2.0M

TWIN DISC INC

2023-Q1 EPS reported -$0.15 revenue$55,913,000

Net loss attributable to Twin Disc of $2.0M ($0.15 per share) vs net income of $1.9M ($0.14 diluted) a year ago.
First-quarter sales $55.9M, up 17.1% YoY; constant-currency sales increased 27.2%.
Gross profit margin 23.8% vs 28.2% (prior year adjusted 22.9% excluding subsidies and warranty adjustment).
Six-month backlog $108.9M at Sept. 30, 2022, up 7.6% from June 30, 2022 and up 26.5% YoY.
Management expects sales and profitability to accelerate through fiscal 2023, with actions to improve European cost structure.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TWIN DISC INC reported fiscal 2023 first quarter ended September 30, 2022 results: revenue $55.9 million, net income ($2.0) million, EPS ($0.15) per share.

Period: fiscal 2023 first quarter ended September 30, 2022
Revenue: $55.9 million
Net income: ($2.0) million
EPS: ($0.15) per share
Result: reported results

Exact text from the filing

2022 — Twin Disc, Inc. (NASDAQ: TWIN) , today reported financial results for the fiscal 2023 first quarter ended September 30, 2022. Sales for the fiscal 2023 first quarter were $55.9 million, compared to $47.8 million for the same period last year. The 17.1% increase in 2023 first quarter sales was primarily due to improving demand within the Company’s global oil and

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Source: SEC EDGAR

accession 0001437749-22-025918

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