Twin Disc, Incorporated (TWIN) trounced expectations for its second quarter, posting earnings of $0.35 per share and revenue of $75.2 million. The power transmission manufacturer also gave its shareholders their first raise in more than three years.
Analysts were expecting a much smaller profit of $0.24 per share and sales of just $65.7 million, on average. The company reversed a loss of $490,000 during last year’s second quarter by bringing in a profit of $4.03 million. Total sales rose 36% year over year.
The company also declared a quarterly dividend of $0.08 per share, a 14% improvement over the $0.07 paid each of the last 13 quarters.
Shares of TWIN stuck to Friday’s closing price of $28.41 in pre-market trading, where they now carry a 1.13% dividend yield.