Twin Disc yesterday announced the results of its fiscal third quarter.
Overall sales increased 19% year-over-year to $96.7 million, and gross margin expanded 134 basis points to 28.1%. Net income was $3.3 million, with EBIDTA of $9.4 million. Operating cash flow was $5.3 million during the quarter.
“Our third quarter results marked the beginning of the strong second-half performance we anticipated,” Twin Disc president and CEO John H. Batten said in a statement. “We delivered meaningful sales growth, margin expansion and improved free cash flow generation, driven by solid execution and healthy demand across our end markets. Marine and propulsion systems remained a key driver of both top- and bottom-line expansion, supported by continued demand for our Veth products.”
Marine and propulsion systems sales grew 20%, from $49.3 million to $59.1 million, largely driven by the success of the Twin Disc’s Veth Propulsion unit, the statement said.
The company did not provide forward-looking guidance for the fourth quarter.
