secwatch.observer — SEC 8-K summary
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Issuer:     TWIN DISC INC (TWIN)
CIK:        0000100378
Form:       8-K
Filed at:   2022-11-04T23:59:59+00:00
Accession:  0001437749-22-025918
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/100378/000143774922025918/0001437749-22-025918-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/100378/000143774922025918/twin20221101_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-025918

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer