Twin Disc Inc. today reported lower sales of $64.8 million in its fiscal 2015 first quarter, compared with $66.4 million a year earlier, attributing the decline to softening demand in the company’s Asian markets for commercial marine and oil and gas products.
Earnings and Analysts
Quarterly earnings statements from public companies and periodic reports from analysts reveal the health and direction of the industry.
Brunswick Corp. said it will release its third-quarter financial results before the market opens on Oct. 23.
Malibu Boats reported a 9 percent increase in fourth-quarter net sales and said it had adjusted fully distributed net income of $5.5 million, or $0.24 a share, for the period.
Dominion Marine Media said Thursday that its analysis of U.S. sales data across three of its websites revealed a growing trend of customers buying new rather than used boats during the past three years.
Following a late spring, some of the quarterly earnings news was good for boatbuilders, though maybe less so for dealers.
GE Capital’s Commercial Distribution Finance business said in a recent report that after a slow start resulting from a harsh winter and a cold spring, the recreational marine industry is showing accelerated growth.
SureShade said sales of its marine shade systems more than doubled in the first half of the year.
Fourth-quarter sales declined at Twin Disc, but the company said today that profits were higher than in the quarter a year earlier.
Sales of Robalo’s larger sportfishing and bay boats increased in the second quarter despite encountering “a real struggle”in regions affected by bad weather this spring.
Marine Products Corp., the builder of Chaparral and Robalo boats, today announced a 13.6 percent second-quarter sales increase, citing higher unit sales and more sales of larger boats during the quarter.