Q4 2024 Twin Disc Inc Earnings Call Transcript
Key Points
- Sales increased 0.6% year-over-year for the fourth quarter and 6.6% for fiscal 2024.
- Completed the acquisition of Katsa Oy, expected to broaden global reach and accelerate cross-selling opportunities.
- Strong cash generation for both the fourth quarter and full year, supported by disciplined working capital management.
- Gross profit margin increased to 29.7% from 29.5% in the prior year period.
- Net income for the full year increased to $11 million from $10.4 million in the prior year.
- Sales in the industrial segment declined 8.9% year-over-year.
- Softer demand in the Canadian fishing market and pleasure craft business.
- Operating income impacted by a $3.1 million noncash loss on the sale of the boat management system product line.
- Exports to oil and gas markets were flat.
- Inventory levels were higher than desired, indicating potential inefficiencies.
Welcome to the Twin Disc, Inc. Fiscal Fourth Quarter and Full Year 2024 conference call. We will begin with introductory remarks from Jeff Knutson, Twin Disc CFO. Please go ahead.
Good morning, and thank you for joining us today to discuss our fiscal 2024 fourth quarter and full year results. On the call with me today is John Batten, Twin Disc CEO.
I would like to remind everyone that certain statements made during this conference call, especially statements expressing hopes, beliefs, expectations or predictions for the future are forward-looking statements. It is important to remember that the company's actual results could differ materially from those projected in such forward-looking statements. Information concerning factors that could cause actual results to differ materially from those in the forward-looking statements are contained in the company's annual report on Form 10-K, copies of which may be obtained by contacting the company or the
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