Twin Disc Q2 swings to profit; sales up 5.8% to $63.4M; backlog grows to $124M

TWIN DISC INC

2023-Q2 EPS reported -$0.07 revenue$119,264,000

Q2 net income of $1.1M ($0.08 diluted EPS) vs net loss of $3.8M ($0.29 loss) a year ago.
Sales $63.4M (+5.8% YoY); gross margin improved to 26.9% from 22.5%.
Backlog $124.0M, up 22.5% from June 30, 2022 and 25.4% from Dec 31, 2021.
EBITDA $6.3M vs negative $0.2M in prior-year quarter; gain of $4.2M on sale of Belgium property.
Net debt improved 23.4% from June 30, 2022; supply chain challenges continue to limit sales.

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 0.95

TWIN DISC INC reported fiscal 2023 second quarter and first half ended December 30, 2022 results: revenue $63.4 million, net income $1.1 million, EPS $0.08 per diluted share.

Period: fiscal 2023 second quarter and first half ended December 30, 2022
Revenue: $63.4 million
Net income: $1.1 million
EPS: $0.08 per diluted share
Result: reported results

Exact text from the filing

Twin Disc, Inc. (NASDAQ: TWIN) , today reported financial results for the fiscal 2023 second quarter and first half ended December 30, 2022. Sales for the fiscal 2023 second quarter were $63.4 million, compared to $59.9 million for the same period last year.

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Source: SEC EDGAR

accession 0001437749-23-002412

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