TWIN DISC INC

Listed Company

TWINCIK 0000100378NasdaqAcceleratedSmaller ReportingGeneral Industrial Machinery & EquipmentWisconsinFY ends Jun 30

Period

FY 2025

Revenue

—

Net Income

$-1.89M

Total Assets

$355.56M

Equity

$164.01M

Shares Out

14.42M

Op. Cash Flow

$23.98M

Business

TWIN DISC INC designs, manufactures and sells marine and heavy‑duty off‑highway power transmission equipment. Its products include marine transmissions, azimuth drives, surface drives, propellers, boat management systems, power‑shift transmissions, hydraulic torque converters, power take‑offs, industrial clutches, control systems and braking systems. The company operates a manufacturing segment that incorporates acquired specialist producers and provides after‑sales services such as spare parts, reverse engineering, modeling and gearbox refurbishment. It sells worldwide to pleasure craft, commercial and military marine customers and to energy, natural resources, government and industrial markets through a direct sales force and distributors.

Summary from filing dated 2025-09-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Net sales	341	295	277	243	219
Cost of goods sold	248	212	203	174	168
Gross profit	93	83	74	69	51
Marketing, engineering and administrative expenses	82	72	62	60	56
Additions	408,000	218,000	177,000	973,000	7
Income from operations	10	11	16	11	−12
Interest expense	−3	−1	−2	—	—
Gain on bargain purchase	0	4	0	—	—
Other (expense) income, net	−5	2	658,000	4	−3
Nonoperating Income (Expense)	−8	4	—	—	—
Income (loss) before income taxes and noncontrolling interest	2	15	14	13	−10
Income tax expense	3	4	4	2	20
Net (loss) income	−2	11	11	11	−30
Less: Net earnings attributable to noncontrolling interest, net of tax	−295,000	−258,000	−297,000	−311,000	−200,000
Net (loss) income attributable to Twin Disc, Incorporated	−2	11	10	10	−30
Dividends per share (in dollars per share)	0.16	0.12	0	—	—
Basic (loss) income per share attributable to Twin Disc, Incorporated common shareholders (in dollars per share)	−0.14	0.8	0.77	0.78	−2.24
Diluted (loss) income per share attributable to Twin Disc, Incorporated common shareholders (in dollars per share)	−0.14	0.79	0.75	0.78	−2.24
Basic shares outstanding (in shares)	14	14	13	13	13
Diluted shares outstanding (in shares)	14	14	14	13	13
Benefit plan adjustments, net of income taxes of $13 and $8, respectively	−3	−2	666,000	−3	12
Foreign currency translation adjustment	16	657,000	635,000	−12	6
Unrealized (loss) gain on hedges, net of income taxes of $0 and $0, respectively	−2	46,000	54,000	2	760,000
Comprehensive income	9	10	12	−1	−11
Less: Comprehensive income attributable to noncontrolling interest	334,000	183,000	248,000	176,000	−101,000
Comprehensive income attributable to Twin Disc, Incorporated	9	10	12	−1	−11

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash	16	20	13	13	12
Trade accounts receivable, net	59	52	55	45	39
Inventories, net	152	130	132	127	115
Other current assets	20	17	8	9	10
Total current assets	247	220	220	204	192
Property, Plant and Equipment, Net	70	58	39	42	45
Right-of-use operating lease assets	17	17	13	13	15
Goodwill	3	0	—	—	—
Intangible assets, net	13	13	13	13	17
Deferred income taxes	3	2	2	2	3
Other noncurrent assets	3	3	3	3	3
Total assets	356	312	289	277	275
Current maturities of long-term debt	3	2	2	2	2
Current maturities of right-of use operating lease obligations	3	3	—	—	—
Accounts payable	39	33	36	29	31
Accrued liabilities	81	62	62	51	46
Total current liabilities	126	100	100	81	79
Long-term debt	28	24	17	35	30
Right-of-use operating lease obligations	14	14	11	11	13
Accrued retirement benefits	12	8	8	10	11
Deferred income taxes	4	5	3	4	5
Other Liabilities, Noncurrent	6	6	5	5	7
Total liabilities	191	157	144	145	145
Preferred shares authorized: 200,000; issued: none; no par value	0	0	0	0	0
Common shares authorized: 30,000,000; issued: 14,632,802; no par value	42	42	43	43	41
Retained earnings	125	130	120	110	127
Accumulated other comprehensive income (loss)	4	−7	−6	−7	−23
Equity before treasury stock	171	164	158	145	145
Less treasury stock, at cost (482,181 and 637,778 shares, respectively)	7	10	12	15	—
Total Twin Disc, Incorporated shareholders' equity	164	155	145	131	130
Noncontrolling interest	380,000	352,000	424,000	412,000	450,000
Total equity	164	155	146	131	131
Total liabilities and equity	356	312	289	277	275

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Depreciation and amortization	15	10	9	10	11
Gain on sale of assets	−98,000	−91,000	−4	−3	0
Loss on write-down of industrial product inventory	2	0	—	—	—
Restructuring charges	39,000	−82,000	137,000	−1	7
Provision for deferred income taxes	−2	−560,000	−634,000	−849,000	18
Stock compensation expense	4	3	3	2	2
Other, net	1	387,000	201,000	201,000	798,000
Trade accounts receivable, net	−2	10	−8	−8	−8
Inventories, net	−10	6	−3	−19	9
Other assets	3	2	476,000	−3	−5
Accounts payable	2	−5	7	−638,000	5
Accrued liabilities	12	−755,000	10	9	7
Accrued retirement benefits	−456,000	−2	−2	−4	−2
Net cash provided by operating activities	24	34	23	−8	7
Acquisition of property, plant, and equipment	−15	−9	−8	−5	−4
Proceeds from sale of property, plant, and equipment	147,000	0	7	9	102,000
Other, net	−653,000	−184,000	333,000	675,000	−133,000
Net cash used by investing activities	−33	−32	−408,000	6	−3
Borrowings under long-term debt agreement	7	0	—	—	—
Borrowings under revolving loan arrangements	122	91	82	104	76
Repayments of revolving loan arrangements	−122	−81	−98	−96	−78
Repayments of other long-term debt	−3	−2	−2	−3	−1
Payments of right-of-use finance lease obligations	−1	−921,000	−621,000	−933,000	−747,000
Dividends paid to shareholders	−2	−2	0	—	—
Dividends paid to noncontrolling interest	−306,000	−254,000	−236,000	−214,000	−220,000
Payments of withholding taxes on stock compensation	−1	−2	−463,000	−486,000	−224,000
Net cash (used) provided by financing activities	−965,000	3	−20	4	−4
Effect of exchange rate changes on cash	6	2	−2	−1	2
Net change in cash	−4	7	742,000	181,000	2
Interest	2	1	2	2	2
Income tax	4	2	4	3	3

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