Twin Disc Reports Solid Fiscal Q3
May 3, 2023
Buoyed by end-market demand and easing supply-chain issues, the company reported a 32.2% sales increase in marine and propulsion systems.
Buoyed by end-market demand and easing supply-chain issues, the company reported a 32.2% sales increase in marine and propulsion systems.
Year-over-year sales were up 5.8%, profitability improved in the quarter, and the company said it has a six-month backlog of $124 million.
Net sales of $55.9 million were a 17.1% increase year-over-year, driven by improving demand in its global markets.
The transmission manufacturer is still using the facility in a leaseback transaction as it looks to reduce costs.
The company reported a 14.8 percent increase in year-over-year sales and that gross margin increased 410 basis points to 31.8 percent.
Marine markets remained stable despite oil and gas slowdown.
Veth Propulsion, which Twin Disc acquired last year, has provided strong growth.
James Feiertag will oversee operations, sales, marketing, distribution and engineering.
The project triples the capacity of its Sturtevant, Wis., location.
It will also serve as a global distribution center.
Buoyed by end-market demand and easing supply-chain issues, the company reported a 32.2% sales increase in marine and propulsion systems.
Year-over-year sales were up 5.8%, profitability improved in the quarter, and the company said it has a six-month backlog of $124 million.
Net sales of $55.9 million were a 17.1% increase year-over-year, driven by improving demand in its global markets.
The transmission manufacturer is still using the facility in a leaseback transaction as it looks to reduce costs.
The company reported a 14.8 percent increase in year-over-year sales and that gross margin increased 410 basis points to 31.8 percent.
Marine markets remained stable despite oil and gas slowdown.
Veth Propulsion, which Twin Disc acquired last year, has provided strong growth.
James Feiertag will oversee operations, sales, marketing, distribution and engineering.
The project triples the capacity of its Sturtevant, Wis., location.
It will also serve as a global distribution center.
