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TWIN DISC Twin Disc Announces Full Year and Fourth Quarter 2026 Results August 20 , 2026 MILWAUKEE , Aug. 20 , 2026 ( GLOBE NEWSWIRE ) -- Twin Disc , Inc. ( NASDAQ : TWIN ) today reported results for the fourth quarter and full fiscal year ended June 30 , 2026 . Fiscal Full Year 2026 Highlights • Sales increased 11.9 % year - over - year to $ 381.3 million • Net income attributable to Twin Disc was $ 27.1 million • EBITDA * of $ 29.9 million , including a currency translation gain of $ 1.7 million • Operating cash flow of $ 22.9 million and Free cash flow * of $ 9.2 million • Six - month backlog of $ 178.3 million Fiscal Fourth Quarter 2026 Highlights • Sales increased 18.3 % year - over - year to $ 114.4 million • Net income attributable to Twin Disc was $ 9.4 million ⚫ EBITDA * of $ 11.1 million , including a currency translation gain of $ 0.8 million • Operating cash flow of $ 20.6 million and Free cash flow * of $ 17.2 million CEO Perspective John H. Batten , President and Chief Executive Officer of Twin Disc , commented , " We closed fiscal 2026 with record fourth quarter revenue , solid profitability , and enhanced free cash flow generation , building on the strong demand and order momentum that we saw throughout the fiscal year . Fourth quarter 2026 sales grew 18 % , reflecting the continued strength of our Marine and Propulsion products , accelerating Defense activity , and enhanced performance from Oil and Gas , which is trending positively as we prioritize higher margin e - frac opportunities . Defense in particular continues to be a key structural growth driver for us supported by increasing demand from customers including the US Navy and NATO . " Our six - month backlog remained level in the quarter despite strong shipments and a concerted effort to reduce past due backlog , " Mr. Batten continued . " Our near - term outlook remains strong and continues to be supported by a robust project pipeline and momentum in the markets that we serve . " As we move into fiscal 2027 , we are well positioned with strong demand , a healthy backlog and growing pipeline , and free cash flow to continue investing in the long - term growth of our business . We remain focused on the disciplined execution of our strategy and are highly encouraged by the growth opportunities ahead of us , " Mr. Batten concluded . Change in Inventory Accounting Method During the fourth quarter of fiscal 2026 , the Company elected to change its method of accounting for certain inventories from the last - in , first out ( LIFO ) method to the first - in , first out ( FIFO ) method . The change to the FIFO method of accounting for these inventories is preferable because it provides better matching of costs and revenues , conforms the Company's inventory to a single method of accounting and improves comparability with the Company's peers . The impact of the change in inventory accounting as reported under the FIFO method was a $ 32.1 million increase in inventory for the fiscal year ended June 30 , 2025 , and the amounts in this press release reflect the impact of this accounting change . To provide historical information on a basis consistent with the change to FIFO , the Company has recast certain historical information to conform to the updated method of inventory accounting in the financial tables of this press release . Fourth Quarter and Full - Year Results Sales for the fiscal 2026 fourth quarter increased 18.3 % year - over - year to $ 114.4 million and fiscal 2026 sales increased 11.9 % to $ 381.3 million . Fourth quarter and full year sales growth were both driven by demand for the Company's Land - Based Transmissions markets , with strength in Marine and Propulsion Systems supporting full year sales , in addition to a stabilization in the Industrial segment . On an organic basis , which excludes the impacts of acquisitions and foreign currency exchange , revenue increased 15.9 % in the quarter and increased 4.6 % for the full year . Sales by product group ( certain amounts have been reclassified from Marine and Propulsion to Other ) : Marine and Propulsion Systems Land - Based Transmissions Industrial Other Total Product Group ( Thousands of $ ) : Q4 FY26 Sales Q4 FY25 Sales Change ( % ) $ 63,596 $ 53,010 20.00 % 32,962 26,122 26.20 % 12,934 13,141 -1.60 % 4,908 4,405 11.40 % $ 114,400 $ 96,678 18.30 %