Twin Disc Q4 sales up 10.5% to $83.9M; net income $8.6M; full-year sales $277M

TWIN DISC INC

2023-FY EPS reported $0.75 revenue$276,960,000

Q4 net income attributable to Twin Disc $8.6M ($0.62 diluted EPS); EBITDA $13.0M.
Full-year fiscal 2023 sales $277.0M (+14.0% YoY); net income $10.4M ($0.75 diluted EPS).
Q4 free cash flow improved to $14.9M from ($3.4M) a year ago; operating cash flow $16.0M.
Six-month backlog $119.2M; net debt decreased $18.7M to $5.4M; cash $13.3M.
Pension accounting changed to modified mark-to-market, retroactive; FY22 net income increased $2.4M.

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 fourth quarter of fiscal 2023 ended June 30, 2023 results: revenue $83.9 million, net income $8.6 million, EPS $0.62 per diluted share.

Period: fourth quarter of fiscal 2023 ended June 30, 2023
Revenue: $83.9 million
Net income: $8.6 million
EPS: $0.62 per diluted share
Result: reported results

Exact text from the filing

Fiscal Fourth Quarter 2023 Highlights ● Sales increased 10.5% year-over-year to $83.9 million ● Net income attributable to Twin Disc was $8.6 million and EBITDA* of $13.0 million ● Significantly improved operating cash flow of $16.0 million ● Free cash flow* of $14.9 million compared to $(3.4) million in the year-ago period ● Strong six-month backlog of $119.2 million supported by healthy ongoing demand

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TWIN DISC INC reported full fiscal year 2023 ended June 30, 2023 results: revenue $277.0 million, net income $10.4 million, EPS $0.75 per diluted share.

Period: full fiscal year 2023 ended June 30, 2023
Revenue: $277.0 million
Net income: $10.4 million
EPS: $0.75 per diluted share
Result: reported results

Exact text from the filing

Mr. Batten. Fourth Quarter & Full-Year Results Sales for the fiscal 2023 fourth quarter increased 10.5% year-over-year to $83.9 million and fiscal 2023 sales increased 14.0% to $277.0 million. Fourth quarter and full year sales growth were similarly driven by demand for the Company’s Marine and Propulsion Systems and Land-Based Transmissions markets, and favorable

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Source: SEC EDGAR

accession 0001437749-23-023905

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