Skip to main content
Publish date:

Twin Disc reports strong gains in Q4

Twin Disc today reported sales of $73.7 million for its fourth fiscal quarter, up 37.7 percent over the same period a year ago. Net income was $5.9 million, compared to $1.2 million last year. Income for the quarter was $0.63 per share, beating analysts’ consensus estimates of $0.48 per share. This compares to earnings of $0.10 per share a year ago.

The company said in a statement that it has seen an increase in sales of its transmissions systems from North American fracking customers, and global demand continues to improve year over year for its marine business.

Full-year sales were $240.7 million, compared to $168.2 million for the prior fiscal year.

CEO John H. Batten said investments made in global manufacturing, a favorable sales mix, controlled expenses and leveraged fixed costs contributed to the gain in sales and profits.

“We are extremely excited with the acquisition of Veth Propulsion, which closed in early July,” Batten said. “We anticipate this will be accretive to sales and cash earnings in the fiscal 2019 first half. The strategic acquisition expands Twin Disc’s position in the global marine industry at a time when demand is accelerating, while diversifying our markets, geographies and products. Veth Propulsion enhances our future outlook, and we expect fiscal 2019 to be another strong year.”

A 30.2 percent increase in ME&A expenses in the quarter was primarily due to transaction costs from the Veth acquisition. “Throughout fiscal 2019, we will focus on successfully integrating the Veth Propulsion acquisition and capitalizing on compelling opportunities underway in many of our global markets,” Batten said.


AIM Marine Group Hosts Meet the Editors Event

More than a dozen editors from Active Interest Media’s Marine Group participated in the day-long, information-sharing event.

Fairline Makes Leadership Appointments

The British luxury boatbuilder founded plans to chart its course for the future with a new CEO and the return of Derek Carter as chairman.

Battle on the Great Lakes Rages On

The Icebreaker Wind Turbine Development faces strong headwinds from boating and fishing groups.

Limestone Boat Co. Expands Dealer Network

The company adds four new dealers to its roster, with three to represent Aquasport Boats.

NMEA Announces ‘22 Training Course Schedule

For next year, marine training courses will be offered as virtual and in-person sessions for basic marine electronics installers, and in-person only for advanced installers.

GM Invests $150M in Electric Boat Start-Up

General Motors has acquired a 25-percent stake in Pure Watercraft, a Seattle-based e-propulsion outfit.

Patrick Acquires Marine and RV Seating Maker

The Elkhart, Ind.-based component manufacturer finalized its purchase of Williamsburg Marine and Williamsburg Furniture.