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Twin Disc
Twin Disc (TWIN) investor relations material
Twin Disc Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary4 Feb, 2026
Executive summary
Sales reached $90.2 million, up 0.3% year-over-year, with growth in North America and Europe and contributions from the Kobelt acquisition; organic sales declined 7.9% due to shipment delays and FX adjustments.
Net income surged to $22.5 million, primarily due to a $22.8 million tax benefit from the release of a domestic valuation allowance.
EBITDA was $4.7 million, down 25% year-over-year, impacted by higher expenses, tariffs, and non-recurring items.
Record backlog of $175.3 million, up 41.4% year-over-year and 7% sequentially, driven by robust demand, especially in defense and hybrid propulsion.
Gross margin improved by 70 basis points to 24.8% year-over-year, despite less favorable product mix and operational issues.
Financial highlights
Net sales for the first half were $170.2 million, up 4.5% from the prior year.
Gross profit for the first half was $45.3 million (26.6% margin), up from $41.0 million (25.2% margin) in the prior year.
Free cash flow was $1.2 million, with positive operating cash flow of $4.6 million.
Net debt increased to $29.7 million, reflecting the Kobelt acquisition.
Total borrowings increased to $44.5 million, up 79% year-over-year.
Outlook and guidance
Management expects to convert record backlog into shipments as shipment timing normalizes and tariff impacts moderate.
Margin improvement anticipated in fiscal 2027 as ARFF assembly moves to a tariff-advantaged facility.
Defense and industrial backlogs provide solid visibility for the remainder of fiscal 2026.
Management expects to invest $12–$15 million in capital assets in fiscal 2026, focusing on modernization and efficiency.
Available cash, credit facilities, and future operations are expected to be sufficient to fund requirements for the foreseeable future.
What is the margin impact of ARFF assembly move?
Detail defense capacity investment plans.
What drives Veth Propulsion's margin improvement?
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Next Twin Disc earnings date
Q3 20266 May, 2026
Twin Disc
Next Twin Disc earnings date
Q3 20266 May, 2026
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Frequently asked questions
Twin Disc, Incorporated designs, manufactures and sells marine and heavy duty off- highway power transmission equipment in the United States, the Netherlands, China and Australia. The Company's design engineering expertise is used to develop highly engineered drivetrain system components for a diverse line of vehicles. The company was incorporated in 1918 and is headquartered in Racine, Wisconsin.
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