Twin Disc Inc up 20.54% at $11.21 after earnings beat
Twin Disc Inc (TWIN) said before opening Thursday that it earned $0.58 per share in the fourth quarter of 2022.
As for revenue, the company reported $76 million, beating estimates of $3.4 million.
In the same quarter a year ago, the company lost $1.62 per share on revenue of $66.2 million.
The stock is up 20.54% at $11.21 after the report.
Despite the increase in revenues, profits declined, signaling a decline in profit margins.
Wall Street analysts had a strong average buy rating on the stock ahead of the report.
InvestorsObserver gives the stock a bullish sentiment score at the moment based on recent trades.
Twin Disc Inc has performed slightly below average over the past few months. Prior to the report, Twin Disc Inc received a long-term technical ranking by InvestorsObserver of 49, putting it in the bottom half of stocks. The company was recently trading at a 52-week low of $7.91 on July 15, 2022 and set a 52-week high on March 24, 2022 at $18.2.
Twin Disc Inc is a United States-based company that manufactures and sells marine and heavy-duty off-road power transmission equipment. The Company operates through two reportable segments: manufacturing and distribution. Its product portfolio includes marine transmissions, surface drives, propellers and boat management systems as well as shifting transmissions, hydraulic torque converters, power take-offs, industrial clutches and control systems. control.