Twin Disc said today that it had lower fiscal first-quarter sales than it did last year, but the loss the company reported was lower than in the quarter a year earlier.
Earnings and Analysts
Quarterly earnings statements from public companies and periodic reports from analysts reveal the health and direction of the industry.
Chaparral and Robalo boats parent company Marine Products Corp. said it generated third-quarter net sales of $55.4 million, a 17.7 percent increase from last year.
Sunseeker International said it swung back to a profit in the second quarter and it forecasts an overall return to profit for the full year.
Wells Fargo said today that boat sales in the ski and wake segment are outperforming the broader powerboat industry, according to Statistical Surveys data, a trend the bank’s analysts attribute to the pace of builder innovation and share gains from other segments, such as sterndrives.
Twin Disc swung from a fiscal fourth-quarter profit last year to a $5.5 million loss this year and also reported lower sales for the period.
Johnson Outdoors reported lower sales and earnings for its third quarter, albeit with double-digit growth in profitability for the company’s fishing and watercraft recreation businesses.
Barring a “major external shock,” U.S. consumers will remain much more resilient than expected despite new sales data that showed April boat sales were roughly flat, compared with the same month in the prior year.
West Marine Inc. reported first-quarter net revenue of $130.4 million, an increase of 2.6 percent from the same period last year.
Chaparral and Robalo parent company Marine Products Corp. said today that it posted a 25.7 percent increase in net sales for the first quarter, due in part to a 36.7 percent leap in unit sales that the company is attributing to popularity among its smaller models.
Twin Disc said today that fiscal third-quarter sales declined to $41.4 million from $60.9 million in the same period last year.