风范股份（601700）(601700.SH)公告，据《南方电网公司2025年主网线路材料第二批框架招标项目中 标公告》，公司中标产品为500kV变电站钢结构广东标包3;35kV-220kV交流角钢塔海南标包3;500kV交 流钢管塔广东标包4;35kV-220kV交流钢管塔广东标包3，中标金额约1.84亿元，约占公司2024年经审计 的营业收入的5.70%。 ...

Core Viewpoint - Twin Disc, Inc. is set to release its fiscal 2026 second-quarter results on February 4, 2026, at 8:00 am Eastern, followed by a conference call at 9:00 am Eastern to discuss the results and engage with the investment community [1]. Group 1: Company Overview - Twin Disc, Inc. designs, manufactures, and sells marine and heavy-duty off-highway power transmission equipment [3]. - The product offerings include marine transmissions, azimuth drives, surface drives, propellers, boat management systems, power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, and control systems [3]. - The company serves customers primarily in the pleasure craft, commercial and military marine markets, as well as in the energy and natural resources, government, and industrial markets [3]. - Sales are conducted through a direct sales force and a distributor network, targeting both domestic and foreign customers [3].

Core Insights - Twin Disc, Inc. will have its Chief Financial Officer Jeff Knutson present at the Noble Capital Markets Emerging Growth Equity Conference on December 3, 2025 [1] - The company will also facilitate one-on-one meetings with registered investors during the conference [1] Company Overview - Twin Disc, Inc. specializes in designing, manufacturing, and selling marine and heavy-duty off-highway power transmission equipment [3] - The product range includes marine transmissions, azimuth drives, surface drives, propellers, boat management systems, power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, and control systems [3] - The company serves various markets, including pleasure craft, commercial and military marine, energy and natural resources, government, and industrial sectors [3] - Sales are conducted through a direct sales force and a distributor network, catering to both domestic and international customers [3]

Core Viewpoint - Twin Disc, Inc. is actively engaging with investors through presentations and one-on-one meetings at the upcoming Three Part Advisors Southwest IDEAS Conference, indicating a focus on investor relations and transparency [1][2]. Company Overview - Twin Disc, Inc. specializes in designing, manufacturing, and selling marine and heavy-duty off-highway power transmission equipment, including marine transmissions, azimuth drives, surface drives, propellers, and boat management systems [3]. - The company serves various markets, primarily in pleasure craft, commercial and military marine sectors, as well as energy, natural resources, government, and industrial markets [3]. - Sales are conducted through a direct sales force and a distributor network, catering to both domestic and international customers [3].

Core Insights - Twin Disc, Inc. reported a solid start to fiscal 2026 with a 9.7% year-over-year increase in sales to $80.0 million, driven by the acquisition of Kobelt and strong performance in Marine and Propulsion Systems [5][9] - The company experienced significant growth in the Defense market, with a 8.5% increase in the six-month backlog since the end of fiscal 2025 [3][9] - Despite a net loss of $518 thousand, EBITDA improved significantly by 172.3% year-over-year to $4.7 million, reflecting higher sales and improved margins [10][12] Financial Performance - Sales increased by 9.7% year-over-year to $80.0 million, with organic sales growth of 1.1% [5][9] - Gross profit rose 18.7% to $22.9 million, with gross margin expanding by 220 basis points to 28.7% [7][9] - Marketing, engineering, and administrative expenses increased by 6.2% to $20.7 million, primarily due to the Kobelt acquisition and inflationary wage impacts [8][9] Product Group Performance - Marine and Propulsion Systems sales increased by 14.6% to $48.2 million, while Land-Based Transmissions saw a modest increase of 1.6% to $17.6 million [6] - Industrial product sales grew by 13.2% to $10.4 million, while the "Other" category experienced a decline of 11.7% [6] Market Outlook - The company remains focused on executing its growth strategy through operational discipline, innovation, and customer engagement, with a healthy backlog of $163.3 million [4][12] - Continued momentum in the Defense sector is expected, with accelerating orders and an expanding pipeline in both the U.S. and Europe [9][12] Balance Sheet and Cash Flow - Cash decreased by 14.8% to $14.2 million, while total debt increased by 46.7% to $43.7 million, primarily due to the Kobelt acquisition [11][12] - The company reported a net cash used in operating activities of $7.5 million for the quarter, reflecting normal seasonal patterns and investments in growth [31]

Core Viewpoint - Twin Disc, Inc. is set to release its fiscal 2026 first-quarter results on November 5, 2025, at 8:00 am Eastern, followed by a conference call at 9:00 am Eastern to discuss the results and engage with the investment community [1]. Company Overview - Twin Disc, Inc. specializes in designing, manufacturing, and selling marine and heavy-duty off-highway power transmission equipment, including marine transmissions, azimuth drives, surface drives, propellers, and boat management systems [3]. - The company serves various markets, including pleasure craft, commercial and military marine, energy and natural resources, government, and industrial sectors [3]. - Sales are conducted through a direct sales force and a distributor network, catering to both domestic and international customers [3].

Core Insights - Twin Disc, Inc. will present at the Noble Emerging Growth Virtual Equity Conference on October 8, 2025, at 3:30 pm Central [1] - The company's executives will be available for one-on-one meetings with registered investors during the conference [1] Company Overview - Twin Disc, Inc. designs, manufactures, and sells marine and heavy-duty off-highway power transmission equipment [3] - Product offerings include marine transmissions, azimuth drives, surface drives, propellers, boat management systems, power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, and control systems [3] - The company serves customers in pleasure craft, commercial and military marine markets, as well as energy, natural resources, government, and industrial markets [3] - Sales are conducted through a direct sales force and a distributor network, targeting both domestic and foreign customers [3]

Core Viewpoint - Twin Disc, Incorporated (TWIN) has experienced a significant share price increase of 70.4% over the past six months, outperforming the industry growth of 11.6% and other competitors like Flowserve Corporation and Nordson Corporation [1] Company Overview - Twin Disc, established in 1918, specializes in designing, manufacturing, and selling marine and heavy-duty off-highway power transmission equipment, with operations in North America and Europe and distribution in the Asia-Pacific [3] - The product portfolio includes marine transmissions, azimuth and surface drives, propellers, power-shift transmissions, torque converters, industrial clutches, control systems, and braking systems, serving various markets through a global sales network [3] Key Tailwinds - Rising global defense spending is a major tailwind, with TWIN positioned to capture a growing defense pipeline valued at $50–75 million, which now accounts for approximately 15% of the backlog [4] - The company leads in hybrid and electrification solutions, capitalizing on sustainability trends by offering electric and hybrid systems that significantly reduce emissions and fuel consumption [5] - Strategic acquisitions have expanded TWIN's product offerings and geographic reach, diversifying revenue sources and creating synergies in manufacturing and distribution [6][7] Operational Strengths - TWIN benefits from operational initiatives that enhance margins and responsiveness, alongside a strong balance sheet that supports long-term growth [8] - The company targets a free cash flow conversion above 60% and has significantly reduced leverage from 5.5x in FY21 to 0.8x in FY25, with ambitious revenue and margin goals for 2030 [8] Challenges - Nearly 60% of TWIN's revenues come from cyclical marine and oil & gas sectors, making it vulnerable to economic fluctuations, particularly in Europe [9] - The transition to hybrid systems faces challenges such as high costs and fragmented supply chains, along with exposure to currency and geopolitical risks due to global operations [9] Valuation - TWIN is currently undervalued, trading at 0.58X trailing 12-month EV/sales, significantly lower than the industry average of 3.64X and peers like Flowserve and Nordson [10] Conclusion - The company is strategically transforming its business through defense expansion, electrification, and acquisitions, supported by operational discipline and a robust balance sheet, positioning it well to navigate near-term volatility [11][12]

Core Insights - Twin Disc, Inc. reported strong financial performance for the fourth quarter and full fiscal year 2025, with significant sales growth driven by demand in Marine and Propulsion Systems [4][6][8]. Fiscal Full Year 2025 Highlights - Total sales for fiscal year 2025 increased by 15.5% year-over-year to $340.7 million, with notable growth in Marine and Propulsion Systems [6][9]. - The company experienced a net loss of $1.9 million for the fiscal year, a significant decline from a net income of $10.99 million in the previous year [12][24]. - EBITDA for the fiscal year decreased by 28.3% to $19.0 million, primarily due to increased currency translation losses and higher operating expenses [12][25]. Fiscal Fourth Quarter 2025 Highlights - Sales for the fourth quarter increased by 14.5% year-over-year to $96.7 million, with strong performance in Marine and Propulsion Systems [6][9]. - Net income for the fourth quarter was $1.4 million, down from $7.4 million in the same quarter of the previous year [12][24]. - Gross profit for the fourth quarter rose by 19.7% to $30.0 million, with a gross margin improvement to 31.0% [10][12]. Sales by Product Group - Marine and Propulsion Systems sales increased by 12.2% to $53.0 million in Q4 FY25 [7]. - Industrial segment sales surged by 82.0% to $13.1 million in Q4 FY25, reflecting a strong recovery [7]. - For the full year, Marine and Propulsion Systems sales grew by 17.1% to $201.1 million [9]. Operational Insights - The company maintained a healthy backlog of $150.5 million at the end of Q4, supported by strong ongoing order activity [14]. - Marketing, engineering, and administrative expenses increased by 20.9% in Q4, driven by acquisitions and inflationary wage impacts [11]. - The company is focused on driving growth and maintaining disciplined operations as it enters the new fiscal year [5]. Geographical Sales Distribution - Twin Disc experienced double-digit sales growth in the European and Asia-Pacific regions during fiscal year 2025 [9]. - The sales distribution shifted, with a greater proportion coming from Europe and a lower proportion from the Asia-Pacific region [9].

Company Overview - Twin Disc, Inc. designs, manufactures, and sells marine and heavy-duty off-highway power transmission equipment [3] - The product range includes marine transmissions, azimuth drives, surface drives, propellers, boat management systems, power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, and control systems [3] - The company serves customers in pleasure craft, commercial and military marine markets, as well as energy, natural resources, government, and industrial sectors [3] Recent Events - Twin Disc's CEO John Batten and CFO Jeff Knutson will present at the Three Part Advisors Midwest IDEAS Conference in Chicago on August 27 at 7:55 am Central [1] - The event will include one-on-one meetings with registered investors [1] - The presentation will be streamed live via a webcast on the company's Investor Presentations section of its website [2]