Twin Disc (TWIN) 10-Q 8 May 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Mar. 29, 2024	Apr. 23, 2024
Document Information [Line Items]
Entity Central Index Key	0000100378
Entity Registrant Name	TWIN DISC INC
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 29, 2024
Document Transition Report	false
Entity File Number	1-7635
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-0667110
Entity Address, Address Line One	222 East Erie Street, Suite 400
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53202
City Area Code	262
Local Phone Number	638-4000
Title of 12(b) Security	Common Stock (No Par Value)
Trading Symbol	TWIN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,996,503

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 29, 2024	Dec. 29, 2023	Sep. 29, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 30, 2022	Sep. 30, 2022	Jun. 30, 2022
Current assets:
Cash	$ 23,843			$ 13,263	$ 14,024
Trade accounts receivable, net	40,950			54,760	44,438
Inventories	129,845			131,930	136,153
Assets held for sale	2,968			2,968	2,968
Prepaid expenses	10,471			8,459	10,025
Other	10,451			8,326	8,341
Total current assets	218,528			219,706	215,949
Property, plant and equipment, net	40,606			38,650	40,700
Right-of-use assets operating leases	14,498			13,133	12,415
Intangible assets, net	10,157			12,637	11,239
Deferred income taxes	2,210			2,244	2,542
Other assets	2,755			2,811	2,668
Total assets	288,754			289,181	285,513
Current liabilities:
Current maturities of long-term debt	2,000			2,010	2,000
Accounts payable	33,230			36,499	29,726
Accrued liabilities	63,406			61,586	56,886
Total current liabilities	98,636			100,095	88,612
Long-term debt	15,042			16,617	29,276
Lease obligations	12,638			10,811	9,897
Accrued retirement benefits	6,707			7,608	10,315
Deferred income taxes	2,965			3,280	3,391
Other long-term liabilities	5,822			5,253	5,403
Total liabilities	141,810			143,664	146,894
Twin Disc shareholders' equity:
Preferred shares authorized: 200,000; issued: none; no par value	0			0	0
Common shares authorized: 30,000,000; issued: 14,632,802; no par value	40,428			42,855	42,145
Retained earnings	122,759			120,299	113,524
Accumulated other comprehensive loss	(7,094)			(5,570)	(5,212)
Equity before treasury stock	156,093			157,584	150,457
Less treasury stock, at cost (638,712 and 814,734 shares, respectively)	9,797			12,491	12,527
Total Twin Disc shareholders' equity	146,296			145,093	137,930
Noncontrolling interest	648			424	689
Total equity	146,944	$ 145,910	$ 140,175	145,517	138,619	$ 133,765	$ 124,768	$ 131,188
Total liabilities and equity	$ 288,754			$ 289,181	$ 285,513

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands	Mar. 29, 2024	Jun. 30, 2023	Mar. 31, 2023
Preferred Shares, Authorized (in shares)	200,000	200,000	200,000
Preferred Shares, Issued (in shares)	0	0	0
Preferred Shares, No Par Value (in dollars per share)	$ 0	$ 0	$ 0
Common shares, authorized (in shares)	30,000,000	30,000,000	30,000,000
Common shares, shares issued (in shares)	14,632,802	14,632,802	14,632,802
Common shares, no par value (in dollars per share)	$ 0	$ 0	$ 0
Treasury Stock, Common, Shares (in shares)	638,712	814,734	819,398

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Mar. 29, 2024	Mar. 31, 2023
Net sales	$ 74,161	$ 73,772	$ 210,709	$ 193,036
Gross profit	20,940	19,265	58,233	49,585
Marketing, engineering and administrative expenses	17,199	14,626	51,268	45,688
Restructuring expenses	139	33	207	208
Other operating expense (income)	0	1	0	(4,149)
Income from operations	3,602	4,605	6,758	7,838
Interest expense	263	522	1,049	1,682
Other (income) expense, net	(959)	178	(649)	13
Non-operating income (expense)	(696)	700	400	1,695
Income before income taxes and noncontrolling interest	4,298	3,905	6,358	6,143
Income tax expense	398	548	2,606	2,350
Net income	3,900	3,357	3,752	3,793
Less: Net earnings attributable to noncontrolling interest, net of tax	(78)	(76)	(173)	(188)
Net income attributable to Twin Disc	$ 3,822	$ 3,281	$ 3,579	$ 3,605
Dividends per share (in dollars per share)	$ 0.04	$ 0	$ 0.08	$ 0
Income per share data:
Basic income per share attributable to Twin Disc common shareholders (in dollars per share)	0.28	0.24	0.26	0.27
Diluted income per share attributable to Twin Disc common shareholders (in dollars per share)	$ 0.27	$ 0.24	$ 0.26	$ 0.26
Weighted average shares outstanding data:
Basic shares outstanding (in shares)	13,742	13,504	13,663	13,455
Diluted shares outstanding (in shares)	13,904	13,662	13,852	13,608
Comprehensive income
Net income	$ 3,900	$ 3,357	$ 3,752	$ 3,793
Benefit plan adjustments, net of income taxes of $10, $(1), $2 and $(5), respectively	(191)	(29)	(470)	(1,240)
Translation adjustment during the quarter	(3,084)	1,014	(930)	3,116
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively	196	(224)	(73)	(26)
Comprehensive income	821	4,118	2,279	5,643
Less: Comprehensive income attributable to noncontrolling interest	34	67	224	277
Comprehensive income attributable to Twin Disc	787	4,051	2,055	5,366
Service Excluding Boat Management System Product Line [Member]
Cost of goods sold	53,221	54,507	149,377	143,451
Boat Management System Product Line [Member]
Cost of goods sold	$ 0	$ 0	$ 3,099	$ 0

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Mar. 29, 2024	Mar. 31, 2023
Benefit plan adjustments, income taxes	$ 10	$ (1)	$ 2	$ (5)
Unrealized loss on cash flow hedge, income taxes	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 3,752	$ 3,793
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7,497	6,936
Gain on sale of assets	(87)	(4,237)
Provision for deferred income taxes	239	(1,462)
Stock compensation expense and other non-cash changes, net	2,242	2,355
Net change in operating assets and liabilities	5,531	(526)
Net cash provided by operating activities	22,273	6,859
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant, and equipment	(7,598)	(6,783)
Proceeds from sale of fixed assets	0	7,177
Other, net	(167)	199
Net cash (used) provided by investing activities	(7,765)	593
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving loan arrangements	66,661	65,862
Repayments of revolving loan arrangements	(66,661)	(69,823)
Repayments of other long-term debt	(1,510)	(1,534)
Dividends paid to shareholders	(1,119)	0
Payments of finance lease obligations	(663)	(231)
Payments of withholding taxes on stock compensation	(1,791)	(463)
Net cash used by financing activities	(5,083)	(6,189)
Effect of exchange rate changes on cash	1,155	240
Net change in cash	10,580	1,503
Cash:
Beginning of period	13,263	12,521
End of period	23,843	14,024
Boat Management System Product Line [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on sale of boat management product line and related inventory	$ 3,099	$ 0

Note A - Basis of Presentation

Note A - Basis of Presentation	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	TWIN DISC, INCORPORATED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA) (UNAUDITED) A. Basis of Presentation The unaudited condensed consolidated financial statements have been prepared by Twin Disc, Incorporated (the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of the Company, include adjustments, consisting primarily of normal recurring items, necessary for a fair statement of results for each period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such SEC rules and regulations. The Company believes that the disclosures made are adequate to make the information presented not 10 - June 30, 2023. not The Company's reporting period ends on the last Friday of the quarterly calendar period. The Company's fiscal year ends on June 30, June 30 Change in Accounting Method During the fourth 2023, not 10% second 20% fourth 2023, 2023, 10 Under the new accounting method, actuarial gains and losses are recognized in net periodic benefit cost through a modified mark-to-market (expense) benefit upon annual remeasurement in the fourth not 20% 10% 20% See Notes G, K, M and P for further information regarding the impact of the Accounting change on the Company’s current and prior consolidated financial statements. Recently Issued Not In December 2023, 2023 09, Improvements to Income Tax Disclosures 2023 09” five 2023 09 December 15, 2024. Recently Adopted Accounting Standards In June 2016, 2016 13 2018 19, 2019 04, 2019 05, 2019 10 326 326 December 15, 2019, December 15, 2022 ( 2024 326 not Special Note Regarding Smaller Reporting Company Status Under SEC Release 33 10513; 34 83550,

Note B - Inventories

Note B - Inventories	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	B. Inventories The major classes of inventories were as follows: March 29, 2024 June 30, 2023 Inventories: Finished parts $ 64,191 $ 66,956 Work in process 24,698 23,374 Raw materials 40,956 41,600 $ 129,845 $ 131,930 In the first 2024, one not second 2024.

Note C - Warranty

Note C - Warranty	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	C. Warranty The Company engages in extensive product quality programs and processes, including actively monitoring and evaluating the quality of its suppliers. However, its warranty obligation is affected by product failure rates, the number of units affected by the failure and the expense involved in satisfactorily addressing the situation. The warranty reserve is established based on our best estimate of the amounts necessary to settle future and existing claims on products sold as of the balance sheet date. When evaluating the adequacy of the reserve for warranty costs, management takes into consideration the term of the warranty coverage, historical claim rates and costs of repair, knowledge of the type and volume of new products and economic trends. While we believe the warranty reserve is adequate and that the judgment applied is appropriate, such amounts estimated to be due and payable in the future could differ materially from what actually transpires. The following is a listing of the activity in the warranty reserve for the quarters ended March 29, 2024 March 31, 2023: For the Quarter Ended For the Three Quarters Ended March 29, 2024 March 31, 2023 March 29, 2024 March 31, 2023 Reserve balance, beginning of period $ 4,488 $ 4,145 $ 3,476 $ 3,329 Current period expense and adjustments 1,656 371 4,377 2,052 Payments or credits to customers (1,236 ) (510 ) (2,948 ) (1,381 ) Translation (13 ) 12 (10 ) 18 Reserve balance, end of period $ 4,895 $ 4,018 $ 4,895 $ 4,018 The current portion of the warranty accrual ($4,052 and $3,503 as of March 29, 2024 March 31, 2023, March 29, 2024 March 31, 2023,

Note D - Contingencies

Note D - Contingencies	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	D. Contingencies The Company is involved in litigation of which the ultimate outcome and liability to the Company, if any, is not not

Note E - Business Segments

Note E - Business Segments	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	E. Business Segments The Company and its subsidiaries are engaged in the manufacture and sale of marine and heavy-duty off-highway power transmission equipment. Principal products include marine transmissions, azimuth drives, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, and controls systems. The Company sells to both domestic and foreign customers in a variety of market areas, principally pleasure craft, commercial and military marine markets, as well as in the energy and natural resources, government, and industrial markets. The Company's worldwide sales to both domestic and foreign customers are transacted through a direct sales force and a distributor network. The Company has two Information about the Company’s segments is summarized as follows: For the Quarter Ended For the Three Quarters Ended March 29, 2024 March 31, 2023 March 29, 2024 March 31, 2023 Net sales Manufacturing segment sales $ 62,640 $ 64,353 $ 175,545 $ 169,607 Distribution segment sales 37,022 33,839 107,117 83,732 Inter/Intra segment elimination – manufacturing (19,929 ) (18,531 ) (58,908 ) (46,373 ) Inter/Intra segment elimination – distribution (5,572 ) (5,889 ) (13,045 ) (13,930 ) $ 74,161 $ 73,772 $ 210,709 $ 193,036 Net income attributable to Twin Disc Manufacturing segment net income $ 5,662 $ 6,480 $ 9,298 $ 13,321 Distribution segment net income 3,248 2,053 7,427 4,412 Corporate and eliminations (5,088 ) (5,252 ) (13,146 ) (14,128 ) $ 3,822 $ 3,281 $ 3,579 $ 3,605 Assets March 29, 2024 June 30, 2023 Manufacturing segment assets $ 385,832 $ 381,668 Distribution segment assets 73,586 69,213 Corporate assets and elimination of intercompany assets (170,664 ) (161,700 ) $ 288,754 $ 289,181 Disaggregated revenue: The following tables presents details deemed most relevant to the users of the financial statements for the quarters ended March 29, 2024 March 31, 2023. Net sales by product group for the quarter ended March 29, 2024 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 5,779 $ 1,084 $ (631 ) $ 6,232 Land-based transmissions 16,701 9,286 (6,898 ) 19,089 Marine and propulsion systems 40,160 23,052 (17,968 ) 45,244 Other - 3,600 (4 ) 3,596 Total $ 62,640 $ 37,022 $ (25,501 ) $ 74,161 Net sales by product group for the quarter ended March 31, 2023 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 7,076 $ 1,548 $ (1,321 ) $ 7,303 Land-based transmissions 16,785 8,692 (5,902 ) 19,575 Marine and propulsion systems 40,492 19,867 (16,505 ) 43,854 Other - 3,732 (692 ) 3,040 Total $ 64,353 $ 33,839 $ (24,420 ) $ 73,772 Net Sales by product group for the three March 29, 2024 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 16,773 $ 3,670 $ (1,994 ) $ 18,449 Land-based transmissions 46,385 29,910 (22,765 ) 53,530 Marine and propulsion systems 112,387 63,430 (47,166 ) 128,651 Other - 10,107 (28 ) 10,079 Total $ 175,545 $ 107,117 $ (71,953 ) $ 210,709 Net Sales by product group for the three March 31, 2023 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 20,732 $ 4,322 $ (3,208 ) $ 21,846 Land-based transmissions 48,329 16,743 (14,888 ) 50,184 Marine and propulsion systems 100,546 49,838 (40,751 ) 109,633 Other - 12,829 (1,456 ) 11,373 Total $ 169,607 $ 83,732 $ (60,303 ) $ 193,036

Note F - Stock-based Compensati

Note F - Stock-based Compensation	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	F. Stock-Based Compensation Performance Stock Awards ( PSA ) During the first three 2024 2023, 2024 three June 30, 2026. The fiscal 2023 three June 30, 2025. There were 329.9 and 437.9 unvested PSAs outstanding at March 29, 2024 March 31, 2023, March 29, 2024 March 31, 2023, three March 29, 2024 March 31, 2023, March 29, 2024 March 29, 2024, 2024 2023 March 29, 2024 March 31, 2023 Performance Stock Unit Awards ( PSUA ) The PSUAs entitle an individual to shares of common stock of the Company or cash in lieu of shares of Company common stock if specific terms and conditions or restrictions are met through a specified date. During the first three 2024 2023 2024 three June 30, 2026. There were 10.5 and 0 unvested PSUAs outstanding at March 29, 2024 March 31, 2023, March 29, 2024 March 31, 2023, three March 29, 2024 March 31, 2023, March 29, 2024 March 29, 2024, 2024 March 29, 2024 March 31, 2023 Restricted Stock Awards ( RS ) The Company has unvested RS awards outstanding that will vest if certain service conditions are fulfilled. The fair value of the RS grants is recorded as compensation expense over the vesting period, which is generally 1 3 first three 2024 2023, March 29, 2024 March 31, 2023, three March 29, 2024 March 31, 2023, March 29, 2024 March 31, 2023, three March 29, 2024 March 31, 2023, March 29, 2024 March 31, 2023 March 29, 2024, three Restricted Stock Unit Awards ( RSU ) The RSUs entitles an individual to shares of common stock of the Company or cash in lieu of shares of Company common stock if specific terms and conditions or restrictions are met through a specified date, generally three first three 2024 2023, March 29, 2024 March 31, 2023, March 29, 2024 March 31, 2023, three March 29, 2024 March 31, 2023, March 29, 2024 March 31, 2023 March 29, 2024 March 29, 2024, three

Note G - Pension and Other Post

Note G - Pension and Other Postretirement Benefit Plans	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Retirement Benefits [Text Block]	G. Pension and Other Postretirement Benefit Plans The Company has non-contributory, qualified defined benefit plans covering substantially all domestic employees hired prior to October 1, 2003 As discussed in Note A, during the fourth 2023, fourth The components of the net periodic benefit cost for the defined benefit pension plans and the other postretirement benefit plan are as follows: For the Quarter Ended For the Three Quarters Ended March 29, 2024 March 31, 2023 March 29, 2024 March 31, 2023 Pension Benefits: Service cost $ 95 $ 106 $ 283 $ 309 Prior service cost - 8 - 25 Interest cost 896 912 2,688 2,648 Expected return on plan assets (1,049 ) (1,053 ) (3,145 ) (3,173 ) Amortization of transition obligation 10 9 29 27 Amortization of prior service cost 9 9 26 27 Amortization of actuarial net loss 15 639 47 1,873 Net periodic benefit (gain) cost $ (24 ) $ 630 $ (72 ) $ 1,736 Postretirement Benefits: Service cost $ 2 $ 2 $ 6 $ 7 Interest cost 48 53 143 159 Amortization of prior service cost (22 ) (69 ) (66 ) (206 ) Amortization of actuarial net loss (155 ) (10 ) (465 ) (29 ) Net periodic benefit gain $ (127 ) $ (24 ) $ (382 ) $ (69 ) The service cost component is included in cost of goods sold and marketing, engineering, and administrative expenses. All other components of net periodic benefit cost are included in other (income) expense, net. The Company expects to contribute approximately $662 to its pension plans in fiscal 2024. March 29, 2024, The Company has reclassified ($191) (net of $10 in taxes) of benefit plan adjustments from accumulated other comprehensive loss during the quarter ended March 29, 2024, March 31, 2023. three March 29, 2024, three March 31, 2023.

Note H - Income Taxes

Note H - Income Taxes	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	H. Income Taxes The Company computes its effective tax rate each quarter consistent with the requirements of ASC 740 270 25. no may 740 270 30 30. The Company recorded an overall effective tax rate of 9.3% and 14.0% for the quarters ended March 29, 2024 March 31, 2023, three March 29, 2024 March 31, 2023. March 29, 2024 March 31, 2023. March 29, 2024 $834 Year-to-date domestic earnings were ($8,557) and ($2,063), with corresponding income tax expense of $7 and $47 for the three March 29, 2024 March 31, 2023.

Note I - Intangible Assets

Note I - Intangible Assets	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	I. Intangible Assets As of March 29, 2024, Net Book Value Rollforward Net Book Value By Asset Type Gross Carrying Amount Accumulated Amortization / Impairment Net Book Value Customer Relationships Technology Know-how Trade Name Other Balance at June 30, 2023 $ 31,925 $ (19,288 ) $ 12,637 $ 6,553 $ 2,422 $ 668 $ 2,994 Addition 89 - 89 - - - 89 Reduction (631 ) 631 - - - - - Amortization - (2,458 ) (2,458 ) (935 ) (923 ) (39 ) (561 ) Translation adjustment (111 ) - (111 ) (66 ) (135 ) 105 (15 ) Balance at March 29, 2024 $ 31,272 $ (21,115 ) $ 10,157 $ 5,552 $ 1,364 $ 734 $ 2,507 Other intangibles consist mainly of computer software. Amortization is recorded on the basis of straight-line or accelerated, as appropriate, over the estimated useful lives of the assets. The weighted average remaining useful life of the intangible assets included in the table above is approximately 5 Intangible amortization expense was $822 and $738 for the quarters ended March 29, 2024, March 31, 2023, three March 29, 2024, March 31, 2023, 2024 five Fiscal Year 2024 $ 945 2025 3,274 2026 2,290 2027 1,531 2028 1,382 2029 735 Total $ 10,157

Note J - Long-term Debt and Sub

Note J - Long-term Debt and Subsequent Event	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	J. Long-Term Debt and Subsequent Event Long-term debt at March 29, 2024 June 30, 2023 March 29, 2024 June 30, 2023 Credit Agreement Debt Revolving loans (expire April 2027) $ 7,019 $ 7,094 Term loan (due April 2027) 10,000 11,500 Other 23 33 Subtotal 17,042 18,627 Less: current maturities (2,000 ) (2,010 ) Total long-term debt $ 15,042 $ 16,617 Credit Agreement Debt: June 29, 2018, “2016 not may, not April 1, 2027, may not April 1, 2027. Under the Credit Agreement as amended, interest rates are based on either the secured overnight financing rate (“SOFR”) or the euro interbank offered rate (the “EURIBO Rate”). Loans are designated either as “SOFR Loans,” which accrue interest at an Adjusted Term SOFR plus an Applicable Margin, or “Eurodollar Loans,” which accrue interest at the EURIBO Rate plus an Applicable Margin. Amounts drawn on a Letter of Credit that are not The Credit Agreement, as amended, requires the Company to meet certain financial covenants. Specifically, the Company’s Total Funded Debt to EBITDA ratio may not 1.00, may not 1.00. may not 50% June 30, 2023. Borrowings under the Credit Agreement are secured by substantially all of the Company’s personal property, including accounts receivable, inventory, machinery and equipment, and intellectual property. The Company has also pledged 100% of its equity interests in certain domestic subsidiaries and 65% of its equity interests in certain foreign subsidiaries. The Company also entered into a Collateral Assignment of Rights under Purchase Agreement for its acquisition of Veth Propulsion. To effect these security interests, the Company entered into various amendment and assignment agreements that consent to the assignment of certain agreements previously entered into between the Company and the Bank of Montreal in connection with the 2016 not The Company has also entered into a Deposit Account Control Agreement with the Bank, reflecting the Bank’s security interest in deposit accounts the Company maintains with the Bank. The Bank may not Upon the occurrence of an Event of Default, BMO may 1 2 3 may three On April 1, 2024, No. 10 first 2026 third 2025 first 2026 The Company intends to use the increased borrowing capacity under the Credit Agreement to help finance its previously announced proposed acquisition of Katsa Oy by TD Finland Holding Oy, a wholly-owned subsidiary of the Company. The Tenth Amendment specifically permits the Company to use Revolving Loans for the Katsa Oy acquisition. In addition, in determining whether the Company is in compliance with its Total Funded Debt/EBITDA Ratio, the Company’s EBITDA will include transaction expenses of up to $0.6 million for the Katsa Oy acquisition, as well as pro-forma EBITDA of Katsa Oy as permitted by the Bank. The Tenth Amendment also extended the Credit Agreement through April 1, 2027 April 1, 2027. June 30, 2025, March 4, 2026. The Tenth Amendment also increased the Applicable Margins under the Credit Agreement for purposes of determining interest rates on Revolving Loans, Letters of Credit, Term Loans, and the Unused Revolving Credit Commitment. Prior to the Tenth Amendment, the Applicable Margins were between 1.25% and 2.75% for Revolving Loans and Letters of Credit; 1.375% and 2.875% for Term Loans; and .10% .15% .15% .3% The Tenth Amendment also increased the amount of Restricted Payments that the Company may The Company remains in compliance with its liquidity and other covenants. As of March 29, 2024, Other: three five During the quarters ended March 29, 2024, As of March 29, 2024, The Company’s borrowings described above approximate fair value at March 29, 2024 June 30, 2023. 2 The Company is party to an interest rate swap arrangement with Bank of Montreal, with an initial notional amount of $20,000 and a maturity date of March 4, 2026 March 29, 2024, 815, During the fourth 2021,

Note K - Shareholders' Equity

Note K - Shareholders' Equity	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Equity [Text Block]	K. Shareholders Equity The Company, from time to time, makes open market purchases of its common stock under authorizations given to it by the Board of Directors, of which 315.0 shares as of March 29, 2024 not March 29, 2024 March 31, 2023. As of July 1, 2022, See Notes A, G, M, and P for further information regarding the impact of the Accounting change on the Company’s prior year consolidated financial statements. The following is a reconciliation of the Company’s equity balances for the three 2024 2023: Twin Disc, Inc. Shareholders’ Equity Accumulated Other Non- Common Retained Comprehensive Treasury Controlling Total Stock Earnings Loss Stock Interest Equity Balance, June 30, 2023 $ 42,855 $ 120,299 $ (5,570 ) $ (12,491 ) $ 424 $ 145,517 Net (loss) income (1,173 ) 90 (1,083 ) Translation adjustments (3,096 ) 60 (3,036 ) Benefit plan adjustments, net of tax (171 ) (171 ) Unrealized gain on hedges, net of tax 216 216 Compensation expense 495 495 Shares (acquired) issued, net (3,911 ) 2,148 (1,763 ) Balance, September 29, 2023 39,439 119,126 (8,621 ) (10,343 ) 574 140,175 Net income 930 5 935 Dividends paid to shareholders (560 ) (560 ) Translation adjustments 5,155 35 5,190 Benefit plan adjustments, net of tax (108 ) (108 ) Unrealized loss on hedges, net of tax (485 ) (485 ) Compensation expense 772 772 Shares (acquired) issued, net (550 ) 541 (9 ) Balance, December 29, 2023 39,661 119,496 (4,059 ) (9,802 ) 614 145,910 Net income 3,822 78 3,900 Dividends paid to shareholders (559 ) (559 ) Translation adjustments (3,040 ) (44 ) (3,084 ) Benefit plan adjustments, net of tax (191 ) (191 ) Unrealized gain on cash flow hedge, net of tax 196 196 Compensation expense 791 791 Shares (acquired) issued, net (24 ) 5 (19 ) Balance, March 29, 2024 $ 40,428 $ 122,759 $ (7,094 ) $ (9,797 ) $ 648 $ 146,944 Twin Disc, Inc. Shareholders’ Equity Accumulated Other Non- Common Retained Comprehensive Treasury Controlling Total Stock Earnings Loss Stock Interest Equity Balance, June 30, 2022 $ 42,551 $ 109,919 $ (6,974 ) $ (14,720 ) $ 412 $ 131,188 Net (loss) income (1,422 ) 98 (1,324 ) Translation adjustments (6,328 ) 38 (6,290 ) Benefit plan adjustments, net of tax (89 ) (89 ) Unrealized gain on hedges, net of tax 793 793 Compensation expense 658 658 Shares (acquired) issued, net (1,924 ) 1,756 (168 ) Balance, September 30, 2022 41,285 108,497 (12,598 ) (12,964 ) 548 124,768 Net income 1,746 15 1,761 Translation adjustments 8,333 59 8,392 Benefit plan adjustments, net of tax (1,122 ) (1,122 ) Unrealized loss on hedges, net of tax (595 ) (595 ) Compensation expense 856 856 Shares (acquired) issued, net (697 ) 402 (295 ) Balance, December 30, 2022 41,444 110,243 (5,982 ) (12,562 ) 622 133,765 Net income 3,281 76 3,357 Translation adjustments 1,023 (9 ) 1,014 Benefit plan adjustments, net of tax (29 ) (29 ) Unrealized loss on cash flow hedge, net of tax (224 ) (224 ) Compensation expense 736 736 Shares (acquired) issued, net (35 ) 35 - Balance, March 31, 2023 $ 42,145 $ 113,524 $ (5,212 ) $ (12,527 ) $ 689 $ 138,619 Reconciliations for the changes in accumulated other comprehensive loss, net of tax, by component for the quarters ended March 29, 2024 March 31, 2023 Translation Benefit Plan Cash Flow Net Investment Adjustment Adjustment Hedges Hedges Balance, June 30, 2023 $ (1,582 ) $ (5,948 ) $ 688 $ 1,272 Translation adjustment during the quarter (3,096 ) - - - Amounts reclassified from accumulated other comprehensive loss - (171 ) (6 ) 222 Net current period other comprehensive (loss) income (3,096 ) (171 ) (6 ) 222 Balance, September 29, 2023 (4,678 ) (6,119 ) 682 1,494 Translation adjustment during the quarter 5,155 - - - Amounts reclassified from accumulated other comprehensive loss - (108 ) (183 ) (302 ) Net current period other comprehensive income (loss) 5,155 (108 ) (183 ) (302 ) Balance at December 29, 2023 477 (6,227 ) 499 1,192 Translation adjustment during the quarter (3,040 ) - - - Amounts reclassified from accumulated other comprehensive loss - (191 ) 40 156 Net current period other comprehensive (loss) income (3,040 ) (191 ) 40 156 Balance at March 29, 2024 $ (2,563 ) $ (6,418 ) $ 539 $ 1,348 Translation Benefit Plan Cash Flow Net Investment Adjustment Adjustment Hedges Hedges Balance, June 30, 2022 $ (2,266 ) $ (6,614 ) $ 356 $ 1,550 Translation adjustment during the quarter (6,328 ) - - - Amounts reclassified from accumulated other comprehensive loss - (89 ) 657 136 Net current period other comprehensive (loss) income (6,328 ) (89 ) 657 136 Balance, September 30, 2022 (8,594 ) (6,703 ) 1,013 1,686 Translation adjustment during the quarter 8,333 - - - Amounts reclassified from accumulated other comprehensive loss - (7 ) (10 ) (585 ) Plan merger adjustment - (1,115 ) - - Net current period other comprehensive income (loss) 8,333 (1,122 ) (10 ) (585 ) Balance at December 30, 2022 (261 ) (7,825 ) 1,003 1,101 Translation adjustment during the quarter 1,023 - - - Amounts reclassified from accumulated other comprehensive loss - (29 ) (133 ) (91 ) Net current period other comprehensive income (loss) 1,023 (29 ) (133 ) (91 ) Balance at March 31, 2023 $ 762 $ (7,854 ) $ 870 $ 1,010 Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter ended March 29, 2024 Amount Reclassified Amount Reclassified Quarter Ended Three Quarters Ended March 29, 2024 March 29, 2024 Changes in benefit plan items Actuarial losses $ (198 ) (a) $ (461 ) (a) Transition asset and prior service benefit (3 ) (a) (11 ) (a) Total amortization (201 ) (472 ) Income tax expense 10 2 Total reclassification net of tax $ (191 ) $ (470 ) Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter ended March 31, 2023 Amount Reclassified Amount Reclassified Quarter Ended Three Quarters Ended March 31, 2023 March 31, 2023 Changes in benefit plan items Actuarial gains $ 630 (a) $ 1,853 (a) Transition asset and prior service benefit (51 ) (a) (152 ) (a) Mark-to-market adjustment (607 ) (1,821 ) Plan merger remeasurement adjustment - (1,115 ) Total amortization (28 ) (1,235 ) Income taxes (1 ) (5 ) Total reclassification net of tax $ (29 ) $ (1,240 ) (a) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note G, "Pension and Other Postretirement Benefit Plans" for further details).

Note L - Assets Held for Sale

Note L - Assets Held for Sale	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Assets Held-for-Sale [Text Block]	L. Assets Held for Sale To improve its fixed cost structure and monetize some of its under-utilized assets, the Company commenced the active marketing of several of its real estate properties. Such actions required the Company to reclassify these assets from Property, Plant and Equipment to Assets Held for Sale, at fair value less costs to sell, or net book value, whichever is lower. Fair value was determined using real estate broker estimates and would be classified as Level 3 fourth 2021. In the first 2023, 3 In the second 2023, In the first 2024, $2.1 October 30, 2023.

Note M - Earnings Per Share

Note M - Earnings Per Share	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	M. Earnings Per Share The Company calculates basic earnings per share based upon the weighted average number of common shares outstanding during the period, while the calculation of diluted earnings per share includes the dilutive effect of potential common shares outstanding during the period. The calculation of diluted earnings per share excludes all potential common shares if their inclusion would have an anti-dilutive effect. Certain restricted stock award recipients have a non-forfeitable right to receive dividends declared by the Company and are therefore included in computing earnings per share pursuant to the two As discussed in Note A, during the fourth 2023, fourth The components of basic and diluted earnings per share were as follows: For the Quarter Ended For the Three Quarters Ended As Adjusted As Adjusted March 29, 2024 March 31, 2023 March 29, 2024 March 31, 2023 Basic: Net income $ 3,900 $ 3,357 $ 3,752 $ 3,793 Less: Net earnings attributable to noncontrolling interest (78 ) (76 ) (173 ) (188 ) Less: Undistributed earnings attributable to unvested shares - - - - Net income attributable to Twin Disc 3,822 3,281 3,579 3,605 Weighted average shares outstanding - basic 13,742 13,504 13,663 13,455 Basic Income Per Share: Net earnings per share - basic $ 0.28 $ 0.24 $ 0.26 $ 0.27 Diluted: Net income $ 3,900 $ 3,357 $ 3,752 $ 3,793 Less: Net earnings attributable to noncontrolling interest (78 ) (76 ) (173 ) (188 ) Less: Undistributed earnings attributable to unvested shares - - - - Net income attributable to Twin Disc 3,822 3,281 3,579 3,605 Weighted average shares outstanding - basic 13,742 13,504 13,663 13,455 Effect of dilutive stock awards 162 158 189 153 Weighted average shares outstanding - diluted 13,904 13,662 13,852 13,608 Diluted Income Per Share: Net earnings per share - diluted $ 0.27 $ 0.24 $ 0.26 $ 0.26 The following potential common shares were excluded from diluted EPS for the three March 29, 2024 The following potential common shares were excluded from diluted EPS for the three March 31, 2023

Note N - Lease Liabilities

Note N - Lease Liabilities	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Lessee, Operating and Finance Leases [Text Block]	N. Lease Liabilities The Company leases certain office and warehouse space, as well as production and office equipment. The Company determines if an arrangement is a lease at contract inception. The lease term begins upon lease commencement, which is when the Company takes possession of the asset, and may not The following table provides a summary of leases recorded on the condensed consolidated balance sheet. Balance Sheet Location March 29, 2024 June 30, 2023 Lease Assets Operating lease right-of-use assets Right-of-use assets operating leases $ 14,498 $ 13,133 Finance lease right-of-use assets Property, plant and equipment, net 4,845 4,427 Lease Liabilities Operating lease liabilities Accrued liabilities $ 1,957 $ 2,343 Operating lease liabilities Lease obligations 12,638 10,811 Finance lease liabilities Accrued liabilities 628 643 Finance lease liabilities Other long-term liabilities 4,542 4,314 The components of lease expense were as follows: For the Quarter Ended For the Three Quarters Ended March 29, 2024 March 31, 2023 March 29, 2024 March 31, 2023 Finance lease cost: Amortization of right-of-use assets $ 206 $ 187 $ 603 $ 498 Interest on lease liabilities 76 87 227 219 Operating lease cost 941 852 2,716 2,250 Short-term lease cost 1 2 9 5 Variable lease cost 101 94 301 202 Total lease cost 1,325 1,222 3,856 3,174 Less: Sublease income (20 ) (18 ) (61 ) (53 ) Net lease cost $ 1,305 $ 1,204 $ 3,795 $ 3,121 Other information related to leases was as follows: For the Quarter Ended For the Three Quarters Ended March 29, 2024 March 31, 2023 March 29, 2024 March 31, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 951 $ 873 $ 2,822 $ 2,268 Operating cash flows from finance leases 76 138 225 270 Financing cash flows from finance leases 192 73 663 231 Right-of-use-assets obtained in exchange for lease obligations: Operating leases 3,551 218 3,739 1,736 Finance leases 227 47 883 367 Weighted average remaining lease term (years): Operating leases 9.3 8.8 Finance lease 9.3 11.3 Weighted average discount rate: Operating leases 8.2 % 7.2 % Finance leases 5.9 % 5.2 % Approximate future minimum rental commitments under non-cancellable leases as of March 29, 2024 Operating Leases Finance Leases 2024 $ 766 $ 248 2025 2,828 877 2026 2,288 828 2027 2,023 775 2028 1,972 695 2029 1,965 513 Thereafter 9,844 2,674 Total future lease payments 21,686 6,610 Less: Amount representing interest (7,091 ) (1,440 ) Present value of future payments $ 14,595 $ 5,170

Note O - Derivative Financial I

Note O - Derivative Financial Instruments	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	O. Derivative Financial Instruments From time to time, the Company enters into derivative instruments to manage volatility arising from risks relating to interest rates and foreign currency exchange rates. The Company does not no The Company reports all derivative instruments on its condensed consolidated balance sheets at fair value and establishes criteria for designation and effectiveness of transactions entered into for hedging purposes. Interest Rate Swap Contracts The Company has one March 29, 2024, 815, The primary purpose of the Company’s cash flow hedging activities is to manage the potential changes in value associated with interest payments on the Company’s SOFR-based indebtedness. The Company records gains and losses on interest rate swap contracts qualifying as cash flow hedges in accumulated other comprehensive loss to the extent that these hedges are effective and until the Company recognizes the underlying transactions in net earnings, at which time these gains and losses are recognized in interest expense on its condensed consolidated statements of operations and comprehensive income. Cash flows from derivative financial instruments are classified as cash flows from financing activities on the consolidated statements of cash flows. These contracts generally have original maturities of greater than twelve Net unrealized after-tax gains related to cash flow hedging activities that were included in accumulated other comprehensive loss were $539 and $688 as of March 29, 2024, June 30, 2023, The Company estimates that $230 of net unrealized losses related to cash flow hedging activities included in accumulated other comprehensive loss will be reclassified into earnings within the next twelve Derivatives Designated as Net Investment Hedges The Company is exposed to foreign currency exchange rate risk related to its investment in net assets in foreign countries. During the fourth 2021, €13,000, March 29, 2024 June 30, 2023, Fair Value of Derivative Instruments The fair value of derivative instruments included in the condensed consolidated balance sheets were as follows: Balance Sheet Location March 29, 2024 June 30, 2023 Derivative designated as hedge: Interest rate swap Other current assets $ 217 $ 292 Interest rate swap Other noncurrent assets 112 187 The impact of the Company’s derivative instruments on the condensed consolidated statements of operations and comprehensive income for the quarters ended March 29, 2024 March 31, 2023, Statement of Comprehensive For the Quarter Ended For the Three Quarters Ended Income Location March 29, 2024 March 31, 2023 March 29, 2024 March 31, 2023 Derivative designated as hedge: Interest rate swap Interest expense $ 62 $ 76 $ 200 $ 238 Interest rate swap Unrealized gain (loss) on hedges 40 (133 ) (148 ) 206 Net investment hedge Unrealized gain (loss) on hedges 156 (91 ) 75 (232 )

Note P - Impact of Accounting M

Note P - Impact of Accounting Method Change	9 Months Ended
	Mar. 29, 2024
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	P. IMPACT OF ACCOUNTING METHOD CHANGE The following tables summarize the effects of the Accounting change described in Note A on the Company’s condensed consolidated statement of operations and comprehensive income, statement of cash flows and statement of changes in equity for the quarter ended and the three March 31, 2023 March 31, 2023. CONDENSED CONSOLIDATED STATEMENT OF OPERATION AND COMPREHENSIVE INCOME For the Quarter Ended For the Three Quarters Ended March 31, 2023 March 31, 2023 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method Net sales $ 73,772 $ - $ 73,772 $ 193,036 $ - $ 193,036 Cost of goods sold 54,507 - 54,507 143,451 - 143,451 Gross profit 19,265 - 19,265 49,585 - 49,585 Marketing, engineering and administrative expenses 14,626 - 14,626 45,688 - 45,688 Restructuring expenses 33 - 33 208 - 208 Other operating expense (income) 1 - 1 (4,149 ) - (4,149 ) Income from operations 4,605 - 4,605 7,838 - 7,838 Other expense (income): Interest expense 522 - 522 1,682 - 1,682 Other expense (income), net 785 (607 ) 178 1,834 (1,821 ) 13 1,307 (607 ) 700 3,516 (1,821 ) 1,695 Income before income taxes and noncontrolling interest 3,298 607 3,905 4,322 1,821 6,143 Income tax expense 548 - 548 2,350 - 2,350 Net income 2,750 607 3,357 1,972 1,821 3,793 Less: Net earnings attributable to noncontrolling interest, net of tax (76 ) - (76 ) (188 ) - (188 ) Net income attributable to Twin Disc $ 2,674 $ 607 $ 3,281 $ 1,784 $ 1,821 $ 3,605 Income per share data: Basic income per share attributable to Twin Disc common shareholders $ 0.20 $ 0.04 $ 0.24 $ 0.13 $ 0.14 $ 0.27 Diluted income per share attributable to Twin Disc common shareholders $ 0.20 $ 0.04 $ 0.24 $ 0.13 $ 0.13 $ 0.26 Weighted average shares outstanding data: Basic shares outstanding 13,504 - 13,504 13,455 - 13,455 Diluted shares outstanding 13,662 - 13,662 13,608 - 13,608 Comprehensive income Net income $ 2,750 $ 607 $ 3,357 $ 1,972 $ 1,821 $ 3,793 Benefit plan adjustments, net of income taxes of $ 1 5 1 5 578 (607 ) (29 ) 581 (1,821 ) (1,240 ) Foreign currency translation adjustment 1,014 - 1,014 3,116 - 3,116 Unrealized loss on hedges, net of income taxes of $ 0 0 (224 ) - (224 ) (26 ) - (26 ) Comprehensive income 4,118 - 4,118 5,643 - 5,643 Less: Comprehensive income attributable to noncontrolling interest 67 - 67 277 - 277 Comprehensive income attributable to Twin Disc $ 4,051 $ - $ 4,051 $ 5,366 $ - $ 5,366 CONDENSED CONSOLIDATED CONDENSED BALANCE SHEET March 31, 2023 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method ASSETS Current assets: Cash $ 14,024 $ - $ 14,024 Trade accounts receivable, net 44,438 - 44,438 Inventories 136,153 - 136,153 Assets held for sale 2,968 - 2,968 Prepaid expenses 10,025 - 10,025 Other 8,341 - 8,341 Total current assets 215,949 - 215,949 Property, plant and equipment, net 40,700 - 40,700 Right-of-use assets operating leases 12,415 - 12,415 Intangible assets, net 11,239 - 11,239 Deferred income taxes 2,542 - 2,542 Other assets 2,668 - 2,668 Total assets $ 285,513 $ - $ 285,513 LIABILITIES AND EQUITY Current liabilities: Current maturities of long-term debt $ 2,000 $ - $ 2,000 Accounts payable 29,726 - 29,726 Accrued liabilities 56,886 - 56,886 Total current liabilities 88,612 - 88,612 Long-term debt 29,276 - 29,276 Lease obligations 9,897 - 9,897 Accrued retirement benefits 10,315 - 10,315 Deferred income taxes 3,391 - 3,391 Other long-term liabilities 5,403 - 5,403 Total liabilities 146,894 - 146,894 Twin Disc shareholders' equity: Preferred shares authorized: 200,000 none no - - - Common shares authorized: 30,000,000 14,632,802 no 42,145 - 42,145 Retained earnings 136,815 (23,291 ) 113,524 Accumulated other comprehensive (loss) income (28,503 ) 23,291 (5,212 ) 150,457 - 150,457 Less treasury stock, at cost ( 819,398 12,527 - 12,527 Total Twin Disc shareholders' equity 137,930 - 137,930 Noncontrolling interest 689 - 689 Total equity 138,619 - 138,619 Total liabilities and equity $ 285,513 $ - $ 285,513 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS For the Three Quarters Ended March 31, 2023 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 1,972 $ 1,821 $ 3,793 Adjustments to reconcile net income to net cash provided by activities: Depreciation and amortization 6,936 - 6,936 Gain on sale of assets (4,237 ) - (4,237 ) Provision for deferred income taxes (1,462 ) - (1,462 ) Stock compensation expense 2,355 - 2,355 Net change in operating assets and liabilities 1,295 (1,821 ) (526 ) Net cash provided by operating activities 6,859 - 6,859 CASH FLOWS FROM INVESTING ACTIVITIES: Acquisition of property, plant, and equipment (6,783 ) - (6,783 ) Proceeds from sale of fixed assets 7,177 - 7,177 Proceeds on note receivable - - - Other, net 199 - 199 Net cash provided by investing activities 593 - 593 CASH FLOWS FROM FINANCING ACTIVITIES: Borrowings under revolving loan arrangements 65,862 - 65,862 Repayments of revolving loan arrangements (69,823 ) - (69,823 ) Repayments of other long-term debt (1,534 ) - (1,534 ) Payments of finance lease obligations (231 ) - (231 ) Payments of withholding taxes on stock compensation (463 ) - (463 ) Net cash used by financing activities (6,189 ) - (6,189 ) Effect of exchange rate changes on cash 240 - 240 Net change in cash 1,503 - 1,503 Cash: Beginning of period 12,521 - 12,521 End of period $ 14,024 $ - $ 14,024 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the Three Quarters Ended March 31, 2023 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method Retained earnings Balance at June 30, 2022 135,031 (25,112 ) 109,919 Net income attributable to Twin Disc 1,784 1,821 3,605 Balance at March 31, 2023 $ 136,815 $ (23,291 ) $ 113,524 Accumulated other comprehensive (loss) income Balance at June 30, 2022 (32,086 ) 25,112 (6,974 ) Translation adjustments 3,028 - 3,028 Benefit plan adjustments, net of tax 581 (1,821 ) (1,240 ) Unrealized loss on hedges, net of tax (26 ) - (26 ) Balance at March 31, 2023 $ (28,503 ) $ 23,291 $ (5,212 )

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Mar. 29, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	Item 5. Other Information None.
Rule 10b5-1 Arrangement Terminated [Flag]	false

Note B - Inventories (Tables)

Note B - Inventories (Tables)	9 Months Ended
	Mar. 29, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 29, 2024 June 30, 2023 Inventories: Finished parts $ 64,191 $ 66,956 Work in process 24,698 23,374 Raw materials 40,956 41,600 $ 129,845 $ 131,930

Note C - Warranty (Tables)

Note C - Warranty (Tables)	9 Months Ended
	Mar. 29, 2024
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 29, 2024 March 31, 2023 March 29, 2024 March 31, 2023 Reserve balance, beginning of period $ 4,488 $ 4,145 $ 3,476 $ 3,329 Current period expense and adjustments 1,656 371 4,377 2,052 Payments or credits to customers (1,236 ) (510 ) (2,948 ) (1,381 ) Translation (13 ) 12 (10 ) 18 Reserve balance, end of period $ 4,895 $ 4,018 $ 4,895 $ 4,018

Note E - Business Segments (Tab

Note E - Business Segments (Tables)	9 Months Ended
	Mar. 29, 2024
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 29, 2024 March 31, 2023 March 29, 2024 March 31, 2023 Net sales Manufacturing segment sales $ 62,640 $ 64,353 $ 175,545 $ 169,607 Distribution segment sales 37,022 33,839 107,117 83,732 Inter/Intra segment elimination – manufacturing (19,929 ) (18,531 ) (58,908 ) (46,373 ) Inter/Intra segment elimination – distribution (5,572 ) (5,889 ) (13,045 ) (13,930 ) $ 74,161 $ 73,772 $ 210,709 $ 193,036 Net income attributable to Twin Disc Manufacturing segment net income $ 5,662 $ 6,480 $ 9,298 $ 13,321 Distribution segment net income 3,248 2,053 7,427 4,412 Corporate and eliminations (5,088 ) (5,252 ) (13,146 ) (14,128 ) $ 3,822 $ 3,281 $ 3,579 $ 3,605
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	Assets March 29, 2024 June 30, 2023 Manufacturing segment assets $ 385,832 $ 381,668 Distribution segment assets 73,586 69,213 Corporate assets and elimination of intercompany assets (170,664 ) (161,700 ) $ 288,754 $ 289,181
Revenue from External Customers by Products and Services [Table Text Block]	Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 5,779 $ 1,084 $ (631 ) $ 6,232 Land-based transmissions 16,701 9,286 (6,898 ) 19,089 Marine and propulsion systems 40,160 23,052 (17,968 ) 45,244 Other - 3,600 (4 ) 3,596 Total $ 62,640 $ 37,022 $ (25,501 ) $ 74,161 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 7,076 $ 1,548 $ (1,321 ) $ 7,303 Land-based transmissions 16,785 8,692 (5,902 ) 19,575 Marine and propulsion systems 40,492 19,867 (16,505 ) 43,854 Other - 3,732 (692 ) 3,040 Total $ 64,353 $ 33,839 $ (24,420 ) $ 73,772 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 16,773 $ 3,670 $ (1,994 ) $ 18,449 Land-based transmissions 46,385 29,910 (22,765 ) 53,530 Marine and propulsion systems 112,387 63,430 (47,166 ) 128,651 Other - 10,107 (28 ) 10,079 Total $ 175,545 $ 107,117 $ (71,953 ) $ 210,709 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 20,732 $ 4,322 $ (3,208 ) $ 21,846 Land-based transmissions 48,329 16,743 (14,888 ) 50,184 Marine and propulsion systems 100,546 49,838 (40,751 ) 109,633 Other - 12,829 (1,456 ) 11,373 Total $ 169,607 $ 83,732 $ (60,303 ) $ 193,036

Note G - Pension and Other Po_2

Note G - Pension and Other Postretirement Benefit Plans (Tables)	9 Months Ended
	Mar. 29, 2024
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 29, 2024 March 31, 2023 March 29, 2024 March 31, 2023 Pension Benefits: Service cost $ 95 $ 106 $ 283 $ 309 Prior service cost - 8 - 25 Interest cost 896 912 2,688 2,648 Expected return on plan assets (1,049 ) (1,053 ) (3,145 ) (3,173 ) Amortization of transition obligation 10 9 29 27 Amortization of prior service cost 9 9 26 27 Amortization of actuarial net loss 15 639 47 1,873 Net periodic benefit (gain) cost $ (24 ) $ 630 $ (72 ) $ 1,736 Postretirement Benefits: Service cost $ 2 $ 2 $ 6 $ 7 Interest cost 48 53 143 159 Amortization of prior service cost (22 ) (69 ) (66 ) (206 ) Amortization of actuarial net loss (155 ) (10 ) (465 ) (29 ) Net periodic benefit gain $ (127 ) $ (24 ) $ (382 ) $ (69 )

Note I - Intangible Assets (Tab

Note I - Intangible Assets (Tables)	9 Months Ended
	Mar. 29, 2024
Notes Tables
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]	Net Book Value Rollforward Net Book Value By Asset Type Gross Carrying Amount Accumulated Amortization / Impairment Net Book Value Customer Relationships Technology Know-how Trade Name Other Balance at June 30, 2023 $ 31,925 $ (19,288 ) $ 12,637 $ 6,553 $ 2,422 $ 668 $ 2,994 Addition 89 - 89 - - - 89 Reduction (631 ) 631 - - - - - Amortization - (2,458 ) (2,458 ) (935 ) (923 ) (39 ) (561 ) Translation adjustment (111 ) - (111 ) (66 ) (135 ) 105 (15 ) Balance at March 29, 2024 $ 31,272 $ (21,115 ) $ 10,157 $ 5,552 $ 1,364 $ 734 $ 2,507
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Fiscal Year 2024 $ 945 2025 3,274 2026 2,290 2027 1,531 2028 1,382 2029 735 Total $ 10,157

Note J - Long-term Debt and S_2

Note J - Long-term Debt and Subsequent Event (Tables)	9 Months Ended
	Mar. 29, 2024
Notes Tables
Schedule of Debt [Table Text Block]	March 29, 2024 June 30, 2023 Credit Agreement Debt Revolving loans (expire April 2027) $ 7,019 $ 7,094 Term loan (due April 2027) 10,000 11,500 Other 23 33 Subtotal 17,042 18,627 Less: current maturities (2,000 ) (2,010 ) Total long-term debt $ 15,042 $ 16,617

Note K - Shareholders' Equity (

Note K - Shareholders' Equity (Tables)	9 Months Ended
	Mar. 29, 2024
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	Twin Disc, Inc. Shareholders’ Equity Accumulated Other Non- Common Retained Comprehensive Treasury Controlling Total Stock Earnings Loss Stock Interest Equity Balance, June 30, 2023 $ 42,855 $ 120,299 $ (5,570 ) $ (12,491 ) $ 424 $ 145,517 Net (loss) income (1,173 ) 90 (1,083 ) Translation adjustments (3,096 ) 60 (3,036 ) Benefit plan adjustments, net of tax (171 ) (171 ) Unrealized gain on hedges, net of tax 216 216 Compensation expense 495 495 Shares (acquired) issued, net (3,911 ) 2,148 (1,763 ) Balance, September 29, 2023 39,439 119,126 (8,621 ) (10,343 ) 574 140,175 Net income 930 5 935 Dividends paid to shareholders (560 ) (560 ) Translation adjustments 5,155 35 5,190 Benefit plan adjustments, net of tax (108 ) (108 ) Unrealized loss on hedges, net of tax (485 ) (485 ) Compensation expense 772 772 Shares (acquired) issued, net (550 ) 541 (9 ) Balance, December 29, 2023 39,661 119,496 (4,059 ) (9,802 ) 614 145,910 Net income 3,822 78 3,900 Dividends paid to shareholders (559 ) (559 ) Translation adjustments (3,040 ) (44 ) (3,084 ) Benefit plan adjustments, net of tax (191 ) (191 ) Unrealized gain on cash flow hedge, net of tax 196 196 Compensation expense 791 791 Shares (acquired) issued, net (24 ) 5 (19 ) Balance, March 29, 2024 $ 40,428 $ 122,759 $ (7,094 ) $ (9,797 ) $ 648 $ 146,944 Twin Disc, Inc. Shareholders’ Equity Accumulated Other Non- Common Retained Comprehensive Treasury Controlling Total Stock Earnings Loss Stock Interest Equity Balance, June 30, 2022 $ 42,551 $ 109,919 $ (6,974 ) $ (14,720 ) $ 412 $ 131,188 Net (loss) income (1,422 ) 98 (1,324 ) Translation adjustments (6,328 ) 38 (6,290 ) Benefit plan adjustments, net of tax (89 ) (89 ) Unrealized gain on hedges, net of tax 793 793 Compensation expense 658 658 Shares (acquired) issued, net (1,924 ) 1,756 (168 ) Balance, September 30, 2022 41,285 108,497 (12,598 ) (12,964 ) 548 124,768 Net income 1,746 15 1,761 Translation adjustments 8,333 59 8,392 Benefit plan adjustments, net of tax (1,122 ) (1,122 ) Unrealized loss on hedges, net of tax (595 ) (595 ) Compensation expense 856 856 Shares (acquired) issued, net (697 ) 402 (295 ) Balance, December 30, 2022 41,444 110,243 (5,982 ) (12,562 ) 622 133,765 Net income 3,281 76 3,357 Translation adjustments 1,023 (9 ) 1,014 Benefit plan adjustments, net of tax (29 ) (29 ) Unrealized loss on cash flow hedge, net of tax (224 ) (224 ) Compensation expense 736 736 Shares (acquired) issued, net (35 ) 35 - Balance, March 31, 2023 $ 42,145 $ 113,524 $ (5,212 ) $ (12,527 ) $ 689 $ 138,619
Reconciliation For The Changes In Accumulated Other Comprehensive Income Loss Net Of Tax By Component [Table Text Block]	Translation Benefit Plan Cash Flow Net Investment Adjustment Adjustment Hedges Hedges Balance, June 30, 2023 $ (1,582 ) $ (5,948 ) $ 688 $ 1,272 Translation adjustment during the quarter (3,096 ) - - - Amounts reclassified from accumulated other comprehensive loss - (171 ) (6 ) 222 Net current period other comprehensive (loss) income (3,096 ) (171 ) (6 ) 222 Balance, September 29, 2023 (4,678 ) (6,119 ) 682 1,494 Translation adjustment during the quarter 5,155 - - - Amounts reclassified from accumulated other comprehensive loss - (108 ) (183 ) (302 ) Net current period other comprehensive income (loss) 5,155 (108 ) (183 ) (302 ) Balance at December 29, 2023 477 (6,227 ) 499 1,192 Translation adjustment during the quarter (3,040 ) - - - Amounts reclassified from accumulated other comprehensive loss - (191 ) 40 156 Net current period other comprehensive (loss) income (3,040 ) (191 ) 40 156 Balance at March 29, 2024 $ (2,563 ) $ (6,418 ) $ 539 $ 1,348 Translation Benefit Plan Cash Flow Net Investment Adjustment Adjustment Hedges Hedges Balance, June 30, 2022 $ (2,266 ) $ (6,614 ) $ 356 $ 1,550 Translation adjustment during the quarter (6,328 ) - - - Amounts reclassified from accumulated other comprehensive loss - (89 ) 657 136 Net current period other comprehensive (loss) income (6,328 ) (89 ) 657 136 Balance, September 30, 2022 (8,594 ) (6,703 ) 1,013 1,686 Translation adjustment during the quarter 8,333 - - - Amounts reclassified from accumulated other comprehensive loss - (7 ) (10 ) (585 ) Plan merger adjustment - (1,115 ) - - Net current period other comprehensive income (loss) 8,333 (1,122 ) (10 ) (585 ) Balance at December 30, 2022 (261 ) (7,825 ) 1,003 1,101 Translation adjustment during the quarter 1,023 - - - Amounts reclassified from accumulated other comprehensive loss - (29 ) (133 ) (91 ) Net current period other comprehensive income (loss) 1,023 (29 ) (133 ) (91 ) Balance at March 31, 2023 $ 762 $ (7,854 ) $ 870 $ 1,010
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amount Reclassified Amount Reclassified Quarter Ended Three Quarters Ended March 29, 2024 March 29, 2024 Changes in benefit plan items Actuarial losses $ (198 ) (a) $ (461 ) (a) Transition asset and prior service benefit (3 ) (a) (11 ) (a) Total amortization (201 ) (472 ) Income tax expense 10 2 Total reclassification net of tax $ (191 ) $ (470 ) Amount Reclassified Amount Reclassified Quarter Ended Three Quarters Ended March 31, 2023 March 31, 2023 Changes in benefit plan items Actuarial gains $ 630 (a) $ 1,853 (a) Transition asset and prior service benefit (51 ) (a) (152 ) (a) Mark-to-market adjustment (607 ) (1,821 ) Plan merger remeasurement adjustment - (1,115 ) Total amortization (28 ) (1,235 ) Income taxes (1 ) (5 ) Total reclassification net of tax $ (29 ) $ (1,240 )

Note M - Earnings Per Share (Ta

Note M - Earnings Per Share (Tables)	9 Months Ended
	Mar. 29, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Quarter Ended For the Three Quarters Ended As Adjusted As Adjusted March 29, 2024 March 31, 2023 March 29, 2024 March 31, 2023 Basic: Net income $ 3,900 $ 3,357 $ 3,752 $ 3,793 Less: Net earnings attributable to noncontrolling interest (78 ) (76 ) (173 ) (188 ) Less: Undistributed earnings attributable to unvested shares - - - - Net income attributable to Twin Disc 3,822 3,281 3,579 3,605 Weighted average shares outstanding - basic 13,742 13,504 13,663 13,455 Basic Income Per Share: Net earnings per share - basic $ 0.28 $ 0.24 $ 0.26 $ 0.27 Diluted: Net income $ 3,900 $ 3,357 $ 3,752 $ 3,793 Less: Net earnings attributable to noncontrolling interest (78 ) (76 ) (173 ) (188 ) Less: Undistributed earnings attributable to unvested shares - - - - Net income attributable to Twin Disc 3,822 3,281 3,579 3,605 Weighted average shares outstanding - basic 13,742 13,504 13,663 13,455 Effect of dilutive stock awards 162 158 189 153 Weighted average shares outstanding - diluted 13,904 13,662 13,852 13,608 Diluted Income Per Share: Net earnings per share - diluted $ 0.27 $ 0.24 $ 0.26 $ 0.26

Note N - Lease Liabilities (Tab

Note N - Lease Liabilities (Tables)	9 Months Ended
	Mar. 29, 2024
Notes Tables
Assets and Liabilities, Lessee [Table Text Block]	Balance Sheet Location March 29, 2024 June 30, 2023 Lease Assets Operating lease right-of-use assets Right-of-use assets operating leases $ 14,498 $ 13,133 Finance lease right-of-use assets Property, plant and equipment, net 4,845 4,427 Lease Liabilities Operating lease liabilities Accrued liabilities $ 1,957 $ 2,343 Operating lease liabilities Lease obligations 12,638 10,811 Finance lease liabilities Accrued liabilities 628 643 Finance lease liabilities Other long-term liabilities 4,542 4,314
Lease, Cost [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 29, 2024 March 31, 2023 March 29, 2024 March 31, 2023 Finance lease cost: Amortization of right-of-use assets $ 206 $ 187 $ 603 $ 498 Interest on lease liabilities 76 87 227 219 Operating lease cost 941 852 2,716 2,250 Short-term lease cost 1 2 9 5 Variable lease cost 101 94 301 202 Total lease cost 1,325 1,222 3,856 3,174 Less: Sublease income (20 ) (18 ) (61 ) (53 ) Net lease cost $ 1,305 $ 1,204 $ 3,795 $ 3,121
Operating and Finance Leases, Other Disclosures [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 29, 2024 March 31, 2023 March 29, 2024 March 31, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 951 $ 873 $ 2,822 $ 2,268 Operating cash flows from finance leases 76 138 225 270 Financing cash flows from finance leases 192 73 663 231 Right-of-use-assets obtained in exchange for lease obligations: Operating leases 3,551 218 3,739 1,736 Finance leases 227 47 883 367 Weighted average remaining lease term (years): Operating leases 9.3 8.8 Finance lease 9.3 11.3 Weighted average discount rate: Operating leases 8.2 % 7.2 % Finance leases 5.9 % 5.2 %
Schedule of Future Minimum Rental Payments for Operating Leases and Finance Lease, Liability, Maturity [Table Text Block]	Operating Leases Finance Leases 2024 $ 766 $ 248 2025 2,828 877 2026 2,288 828 2027 2,023 775 2028 1,972 695 2029 1,965 513 Thereafter 9,844 2,674 Total future lease payments 21,686 6,610 Less: Amount representing interest (7,091 ) (1,440 ) Present value of future payments $ 14,595 $ 5,170

Note O - Derivative Financial_2

Note O - Derivative Financial Instruments (Tables)	9 Months Ended
	Mar. 29, 2024
Notes Tables
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Balance Sheet Location March 29, 2024 June 30, 2023 Derivative designated as hedge: Interest rate swap Other current assets $ 217 $ 292 Interest rate swap Other noncurrent assets 112 187
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	Statement of Comprehensive For the Quarter Ended For the Three Quarters Ended Income Location March 29, 2024 March 31, 2023 March 29, 2024 March 31, 2023 Derivative designated as hedge: Interest rate swap Interest expense $ 62 $ 76 $ 200 $ 238 Interest rate swap Unrealized gain (loss) on hedges 40 (133 ) (148 ) 206 Net investment hedge Unrealized gain (loss) on hedges 156 (91 ) 75 (232 )

Note P - Impact of Accounting_2

Note P - Impact of Accounting Method Change (Tables)	9 Months Ended
	Mar. 29, 2024
Notes Tables
Accounting Standards Update and Change in Accounting Principle [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 31, 2023 March 31, 2023 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method Net sales $ 73,772 $ - $ 73,772 $ 193,036 $ - $ 193,036 Cost of goods sold 54,507 - 54,507 143,451 - 143,451 Gross profit 19,265 - 19,265 49,585 - 49,585 Marketing, engineering and administrative expenses 14,626 - 14,626 45,688 - 45,688 Restructuring expenses 33 - 33 208 - 208 Other operating expense (income) 1 - 1 (4,149 ) - (4,149 ) Income from operations 4,605 - 4,605 7,838 - 7,838 Other expense (income): Interest expense 522 - 522 1,682 - 1,682 Other expense (income), net 785 (607 ) 178 1,834 (1,821 ) 13 1,307 (607 ) 700 3,516 (1,821 ) 1,695 Income before income taxes and noncontrolling interest 3,298 607 3,905 4,322 1,821 6,143 Income tax expense 548 - 548 2,350 - 2,350 Net income 2,750 607 3,357 1,972 1,821 3,793 Less: Net earnings attributable to noncontrolling interest, net of tax (76 ) - (76 ) (188 ) - (188 ) Net income attributable to Twin Disc $ 2,674 $ 607 $ 3,281 $ 1,784 $ 1,821 $ 3,605 Income per share data: Basic income per share attributable to Twin Disc common shareholders $ 0.20 $ 0.04 $ 0.24 $ 0.13 $ 0.14 $ 0.27 Diluted income per share attributable to Twin Disc common shareholders $ 0.20 $ 0.04 $ 0.24 $ 0.13 $ 0.13 $ 0.26 Weighted average shares outstanding data: Basic shares outstanding 13,504 - 13,504 13,455 - 13,455 Diluted shares outstanding 13,662 - 13,662 13,608 - 13,608 Comprehensive income Net income $ 2,750 $ 607 $ 3,357 $ 1,972 $ 1,821 $ 3,793 Benefit plan adjustments, net of income taxes of $ 1 5 1 5 578 (607 ) (29 ) 581 (1,821 ) (1,240 ) Foreign currency translation adjustment 1,014 - 1,014 3,116 - 3,116 Unrealized loss on hedges, net of income taxes of $ 0 0 (224 ) - (224 ) (26 ) - (26 ) Comprehensive income 4,118 - 4,118 5,643 - 5,643 Less: Comprehensive income attributable to noncontrolling interest 67 - 67 277 - 277 Comprehensive income attributable to Twin Disc $ 4,051 $ - $ 4,051 $ 5,366 $ - $ 5,366 March 31, 2023 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method ASSETS Current assets: Cash $ 14,024 $ - $ 14,024 Trade accounts receivable, net 44,438 - 44,438 Inventories 136,153 - 136,153 Assets held for sale 2,968 - 2,968 Prepaid expenses 10,025 - 10,025 Other 8,341 - 8,341 Total current assets 215,949 - 215,949 Property, plant and equipment, net 40,700 - 40,700 Right-of-use assets operating leases 12,415 - 12,415 Intangible assets, net 11,239 - 11,239 Deferred income taxes 2,542 - 2,542 Other assets 2,668 - 2,668 Total assets $ 285,513 $ - $ 285,513 LIABILITIES AND EQUITY Current liabilities: Current maturities of long-term debt $ 2,000 $ - $ 2,000 Accounts payable 29,726 - 29,726 Accrued liabilities 56,886 - 56,886 Total current liabilities 88,612 - 88,612 Long-term debt 29,276 - 29,276 Lease obligations 9,897 - 9,897 Accrued retirement benefits 10,315 - 10,315 Deferred income taxes 3,391 - 3,391 Other long-term liabilities 5,403 - 5,403 Total liabilities 146,894 - 146,894 Twin Disc shareholders' equity: Preferred shares authorized: 200,000 none no - - - Common shares authorized: 30,000,000 14,632,802 no 42,145 - 42,145 Retained earnings 136,815 (23,291 ) 113,524 Accumulated other comprehensive (loss) income (28,503 ) 23,291 (5,212 ) 150,457 - 150,457 Less treasury stock, at cost ( 819,398 12,527 - 12,527 Total Twin Disc shareholders' equity 137,930 - 137,930 Noncontrolling interest 689 - 689 Total equity 138,619 - 138,619 Total liabilities and equity $ 285,513 $ - $ 285,513 For the Three Quarters Ended March 31, 2023 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 1,972 $ 1,821 $ 3,793 Adjustments to reconcile net income to net cash provided by activities: Depreciation and amortization 6,936 - 6,936 Gain on sale of assets (4,237 ) - (4,237 ) Provision for deferred income taxes (1,462 ) - (1,462 ) Stock compensation expense 2,355 - 2,355 Net change in operating assets and liabilities 1,295 (1,821 ) (526 ) Net cash provided by operating activities 6,859 - 6,859 CASH FLOWS FROM INVESTING ACTIVITIES: Acquisition of property, plant, and equipment (6,783 ) - (6,783 ) Proceeds from sale of fixed assets 7,177 - 7,177 Proceeds on note receivable - - - Other, net 199 - 199 Net cash provided by investing activities 593 - 593 CASH FLOWS FROM FINANCING ACTIVITIES: Borrowings under revolving loan arrangements 65,862 - 65,862 Repayments of revolving loan arrangements (69,823 ) - (69,823 ) Repayments of other long-term debt (1,534 ) - (1,534 ) Payments of finance lease obligations (231 ) - (231 ) Payments of withholding taxes on stock compensation (463 ) - (463 ) Net cash used by financing activities (6,189 ) - (6,189 ) Effect of exchange rate changes on cash 240 - 240 Net change in cash 1,503 - 1,503 Cash: Beginning of period 12,521 - 12,521 End of period $ 14,024 $ - $ 14,024 For the Three Quarters Ended March 31, 2023 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method Retained earnings Balance at June 30, 2022 135,031 (25,112 ) 109,919 Net income attributable to Twin Disc 1,784 1,821 3,605 Balance at March 31, 2023 $ 136,815 $ (23,291 ) $ 113,524 Accumulated other comprehensive (loss) income Balance at June 30, 2022 (32,086 ) 25,112 (6,974 ) Translation adjustments 3,028 - 3,028 Benefit plan adjustments, net of tax 581 (1,821 ) (1,240 ) Unrealized loss on hedges, net of tax (26 ) - (26 ) Balance at March 31, 2023 $ (28,503 ) $ 23,291 $ (5,212 )

Note B - Inventories (Details T

Note B - Inventories (Details Textual) - Boat Management System Product Line [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 29, 2024	Dec. 29, 2023	Sep. 29, 2023
Inventory Write-down	$ 2.1		$ 2.1
UNITED STATES
Inventory Write-down		$ 1.6

Note B - Inventories - Inventor

Note B - Inventories - Inventories (Details) - USD ($) $ in Thousands	Mar. 29, 2024	Jun. 30, 2023	Mar. 31, 2023
Finished parts	$ 64,191	$ 66,956
Work in process	24,698	23,374
Raw materials	40,956	41,600
Total inventories	$ 129,845	$ 131,930	$ 136,153

Note C - Warranty (Details Text

Note C - Warranty (Details Textual) - USD ($) $ in Thousands	Mar. 29, 2024	Mar. 31, 2023
Product Warranty Accrual, Current	$ 4,052	$ 3,503
Product Warranty Accrual, Noncurrent	$ 843	$ 515

Note C - Warranty - Warranty (D

Note C - Warranty - Warranty (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Mar. 29, 2024	Mar. 31, 2023
Reserve balance, beginning of period	$ 4,488	$ 4,145	$ 3,476	$ 3,329
Current period expense and adjustments	1,656	371	4,377	2,052
Payments or credits to customers	(1,236)	(510)	(2,948)	(1,381)
Translation	(13)	12	(10)	18
Reserve balance, end of period	$ 4,895	$ 4,018	$ 4,895	$ 4,018

Note E - Business Segments (Det

Note E - Business Segments (Details Textual)	3 Months Ended
	Mar. 29, 2024
Number of Reportable Segments	2

Note E - Business Segments - Re

Note E - Business Segments - Revenues by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Mar. 29, 2024	Mar. 31, 2023
Net sales	$ 74,161	$ 73,772	$ 210,709	$ 193,036
Manufacturing segment net income	3,822	3,281	3,579	3,605
Intersegment Eliminations [Member]
Net sales	(25,501)	(24,420)	(71,953)	(60,303)
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]
Manufacturing segment net income	(5,088)	(5,252)	(13,146)	(14,128)
Manufacturing Segment [Member] | Operating Segments [Member]
Net sales	62,640	64,353	175,545	169,607
Manufacturing segment net income	5,662	6,480	9,298	13,321
Manufacturing Segment [Member] | Intersegment Eliminations [Member]
Net sales	(19,929)	(18,531)	(58,908)	(46,373)
Distribution Segment [Member] | Operating Segments [Member]
Net sales	37,022	33,839	107,117	83,732
Manufacturing segment net income	3,248	2,053	7,427	4,412
Distribution Segment [Member] | Intersegment Eliminations [Member]
Net sales	$ (5,572)	$ (5,889)	$ (13,045)	$ (13,930)

Note E - Business Segments - As

Note E - Business Segments - Assets by Segment (Details) - USD ($) $ in Thousands	Mar. 29, 2024	Jun. 30, 2023	Mar. 31, 2023
Segment Assets	$ 288,754	$ 289,181	$ 285,513
Operating Segments [Member] | Manufacturing Segment [Member]
Segment Assets	385,832	381,668
Operating Segments [Member] | Distribution Segment [Member]
Segment Assets	73,586	69,213
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]
Segment Assets	$ (170,664)	$ (161,700)

Note E - Business Segments - Ne

Note E - Business Segments - Net Sales by Product Group (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Mar. 29, 2024	Mar. 31, 2023
Net Sales	$ 74,161	$ 73,772	$ 210,709	$ 193,036
Intersegment Eliminations [Member]
Net Sales	(25,501)	(24,420)	(71,953)	(60,303)
Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	62,640	64,353	175,545	169,607
Manufacturing Segment [Member] | Intersegment Eliminations [Member]
Net Sales	(19,929)	(18,531)	(58,908)	(46,373)
Distribution Segment [Member] | Operating Segments [Member]
Net Sales	37,022	33,839	107,117	83,732
Distribution Segment [Member] | Intersegment Eliminations [Member]
Net Sales	(5,572)	(5,889)	(13,045)	(13,930)
Industrial [Member]
Net Sales	6,232	7,303	18,449	21,846
Industrial [Member] | Intersegment Eliminations [Member]
Net Sales	(631)	(1,321)	(1,994)	(3,208)
Industrial [Member] | Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	5,779	7,076	16,773	20,732
Industrial [Member] | Distribution Segment [Member] | Operating Segments [Member]
Net Sales	1,084	1,548	3,670	4,322
Land Based Transmissions [Member]
Net Sales	19,089	19,575	53,530	50,184
Land Based Transmissions [Member] | Intersegment Eliminations [Member]
Net Sales	(6,898)	(5,902)	(22,765)	(14,888)
Land Based Transmissions [Member] | Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	16,701	16,785	46,385	48,329
Land Based Transmissions [Member] | Distribution Segment [Member] | Operating Segments [Member]
Net Sales	9,286	8,692	29,910	16,743
Marine and Propulsion Systems [Member]
Net Sales	45,244	43,854	128,651	109,633
Marine and Propulsion Systems [Member] | Intersegment Eliminations [Member]
Net Sales	(17,968)	(16,505)	(47,166)	(40,751)
Marine and Propulsion Systems [Member] | Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	40,160	40,492	112,387	100,546
Marine and Propulsion Systems [Member] | Distribution Segment [Member] | Operating Segments [Member]
Net Sales	23,052	19,867	63,430	49,838
Other [Member]
Net Sales	3,596	3,040	10,079	11,373
Other [Member] | Intersegment Eliminations [Member]
Net Sales	(4)	(692)	(28)	(1,456)
Other [Member] | Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	0	0	0	0
Other [Member] | Distribution Segment [Member] | Operating Segments [Member]
Net Sales	$ 3,600	$ 3,732	$ 10,107	$ 12,829

Note F - Stock-based Compensa_2

Note F - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Mar. 29, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 29, 2023
Performance Stock Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			119,300	118,100
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)	238,700		238,700			234,200
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)	329,900	437,900	329,900	437,900
Share-Based Payment Arrangement, Expense	$ 326	$ 307	$ 704	$ 903
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share)	$ 11.48		$ 11.48
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 1,652		$ 1,652
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 0	$ 0
Performance Stock Unit Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			10,500	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)	20,900		20,900
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)	10,500	0	10,500	0
Share-Based Payment Arrangement, Expense	$ 11	$ 0	$ 29	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share)	$ 12.15		$ 12.15
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 98		$ 98
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 0	0
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			117,200	180,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)	246,600		246,600		308,600
Share-Based Payment Arrangement, Expense	$ 330	313	$ 953	$ 1,007
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	1,568		$ 1,568
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 2,196	$ 1,699
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares)			2,400	0
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	3 years
Restricted Stock [Member] | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	1 year
Restricted Stock [Member] | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			7,100	72,400
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)	135,000	130,200	135,000	130,200
Share-Based Payment Arrangement, Expense	$ 124	$ 116	$ 372	$ 340
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share)	$ 10.97		$ 10.97
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 412		$ 412
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 25	$ 40
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	3 years

Note G - Pension and Other Po_3

Note G - Pension and Other Postretirement Benefit Plans (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Mar. 29, 2024	Mar. 31, 2023
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, after Tax	$ 191	$ 29	$ 470	$ 1,240
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax	10	$ (1)	2	$ (5)
Pension Plan [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year	$ 662		662
Defined Benefit Plan, Plan Assets, Contributions by Employer			$ 634

Note G - Pension and Other Po_4

Note G - Pension and Other Postretirement Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Mar. 29, 2024	Mar. 31, 2023
Pension Plan [Member]
Service cost	$ 95	$ 106	$ 283	$ 309
Prior service cost	0	8	0	25
Interest cost	896	912	2,688	2,648
Expected return on plan assets	(1,049)	(1,053)	(3,145)	(3,173)
Amortization of transition obligation	10	9	29	27
Amortization of prior service cost	9	9	26	27
Amortization of actuarial net loss	15	639	47	1,873
Net periodic benefit (gain) cost	(24)	630	(72)	1,736
Other Postretirement Benefits Plan [Member]
Service cost	2	2	6	7
Interest cost	48	53	143	159
Amortization of prior service cost	(22)	(69)	(66)	(206)
Amortization of actuarial net loss	(155)	(10)	(465)	(29)
Net periodic benefit (gain) cost	$ (127)	$ (24)	$ (382)	$ (69)

Note H - Income Taxes (Details

Note H - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Mar. 29, 2024	Mar. 31, 2023
Effective Income Tax Rate Reconciliation, Percent	9.30%	14%	41%	38.20%
Income (Loss) from Continuing Operations before Income Taxes, Foreign			$ 14,916	$ 8,207
Income Tax Expense (Benefit)	$ 398	$ 548	2,606	2,350
Income (Loss) from Continuing Operations before Income Taxes, Domestic			(8,557)	(2,063)
Tax and Customs Administration, Netherlands [Member]
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount	$ 786
Foreign Tax Jurisdiction [Member]
Income Tax Expense (Benefit)			2,599	2,303
Domestic Tax Jurisdiction [Member]
Income Tax Expense (Benefit)			$ 7	$ 47

Note I - Intangible Assets (Det

Note I - Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Mar. 29, 2024	Mar. 31, 2023
Amortization of Intangible Assets	$ 822	$ 738	$ 2,458	$ 2,140

Note I - Intangible Assets - In

Note I - Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Mar. 29, 2024	Mar. 31, 2023	Mar. 31, 2024	Jul. 01, 2023
Balance, Definite Intangible Assets Gross Carrying Amount	$ 31,272		$ 31,272			$ 31,925
Balance, Definite Intangible Assets Accumulated Amortization/Impairment	(21,115)		(21,115)			(19,288)
Balance at June 30, Definite Intangible Assets Net Book Value	10,157		10,157		$ 10,157	12,637
Addition, Definite Intangible Assets Gross Carrying Amount			89
Addition, Definite Intangible Assets Net Book Value			89
Reduction, Definite Intangible Assets Gross Carrying Amount			(631)
Reduction, Definite Intangible Assets Accumulated Amortization/Impairment			631
Amortization, Intangible Asset	(822)	$ (738)	(2,458)	$ (2,140)
Translation adjustment, Definite Intangible Assets Gross Carrying Amount			(111)
Translation adjustment, Definite Intangible Assets Net Book Value			(111)
Customer Relationships [Member]
Balance at June 30, Definite Intangible Assets Net Book Value	5,552		5,552			6,553
Addition, Definite Intangible Assets Net Book Value			0
Amortization, Intangible Asset			(935)
Translation adjustment, Definite Intangible Assets Net Book Value			(66)
Technology-Based Intangible Assets [Member]
Balance at June 30, Definite Intangible Assets Net Book Value	1,364		1,364			2,422
Addition, Definite Intangible Assets Net Book Value			0
Amortization, Intangible Asset			(923)
Translation adjustment, Definite Intangible Assets Net Book Value			(135)
Trade Names [Member]
Balance at June 30, Definite Intangible Assets Net Book Value	734		734			668
Addition, Definite Intangible Assets Net Book Value			0
Amortization, Intangible Asset			(39)
Translation adjustment, Definite Intangible Assets Net Book Value			105
Other Intangible Assets [Member]
Balance at June 30, Definite Intangible Assets Net Book Value	$ 2,507		2,507			$ 2,994
Addition, Definite Intangible Assets Net Book Value			89
Amortization, Intangible Asset			(561)
Translation adjustment, Definite Intangible Assets Net Book Value			$ (15)

Note I - Intangible Assets - Es

Note I - Intangible Assets - Estimated Intangibles Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 29, 2024	Jul. 01, 2023
2024	$ 945
2025	3,274
2026	2,290
2027	1,531
2028	1,382
2029	735
Total	$ 10,157	$ 10,157	$ 12,637

Note J - Long-term Debt and S_3

Note J - Long-term Debt and Subsequent Event (Details Textual) $ in Thousands		3 Months Ended	9 Months Ended
	Apr. 01, 2024 USD ($)	Mar. 29, 2024 USD ($)	Mar. 29, 2024 USD ($)	Jul. 01, 2025 USD ($)	Jan. 01, 2025	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 29, 2018 USD ($)
Long-Term Debt, Current Maturities		$ 2,000	$ 2,000			$ 2,010	$ 2,000
Principal Paid on Sale Leaseback Liabilities			10
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Bank of Montreal [Member]
Derivative, Notional Amount		10,000	10,000			$ 20,000
Katsa Oy [Member]
Business Acquisition, Transaction Costs		$ 600	$ 600
Maximum [Member]
Sale Leaseback Transactions, Term (Year)			5 years
Sale Leaseback Transactions, Implied Interest Rate		25%	25%
Minimum [Member]
Sale Leaseback Transactions, Term (Year)			3 years
Sale Leaseback Transactions, Implied Interest Rate		7%	7%
Subsequent Event [Member] | Maximum [Member] | Katsa Oy [Member]
Business Combination, Acquisition Related Costs	$ 600
BMO [Member] | The 2018 Credit Agreement [Member]
Debt Instrument, Percentage of Equity Interest in Domestic Subsidiaries Pledged		100%	100%
Debt Instrument, Percentage of Equity Interest in Foreign Subsidiaries Pledged		65%	65%
Debt Instrument, Debt Default, Percentage of Letter of Credit Obligations Required to Cash Collateralize		105%	105%
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member]
Debt Agreement, Maximum Borrowing Capacity		$ 20,000	$ 20,000
Debt Instrument, Periodic Payment, Total		$ 500
Debt Instrument, Interest Rate During Period		6.83%
BMO [Member] | The 2018 Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Agreement, Maximum Borrowing Capacity								$ 35,000
Line of Credit Facility, Maximum Borrowing Capacity								$ 50,000
Debt Instrument, Interest Rate During Period		5.12%
Line of Credit Facility, Current Borrowing Capacity		$ 37,016	37,016
Line of Credit Facility, Remaining Borrowing Capacity		29,694	29,694
BMO [Member] | The 2018 Credit Agreement [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument, Covenant, Maximum Cash Dividends		5,000	5,000
BMO [Member] | The Tenth Amendment [Member]
Long-Term Debt, Current Maturities		2,000	2,000
BMO [Member] | The Tenth Amendment [Member] | Subsequent Event [Member]
Debt Instrument, Covenant, Maximum Cash Dividends	$ 5,000
BMO [Member] | The Tenth Amendment [Member] | Term Loan [Member] | Subsequent Event [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	3.625%
BMO [Member] | The Tenth Amendment [Member] | Term Loan [Member] | Subsequent Event [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.125%
BMO [Member] | The Tenth Amendment [Member] | Unused Revolving Credit Commitment [Member] | Subsequent Event [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.30%
BMO [Member] | The Tenth Amendment [Member] | Unused Revolving Credit Commitment [Member] | Subsequent Event [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.15%
BMO [Member] | The Tenth Amendment [Member] | Revolving Credit Facility [Member] | Forecast [Member]
Debt Instrument, Borrowing Base Two				$ 32,500
Debt Instrument, Borrowing Base, Percentage of Receivables Two				50%	55%
BMO [Member] | The Tenth Amendment [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 45,000
Debt Instrument, Borrowing Base, Percentage of Receivables	85%
Debt Instrument, Borrowing Base Two	$ 35,000
Debt Instrument, Borrowing Base, Percentage of Receivables Two	60%
BMO [Member] | The Tenth Amendment [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	3.50%
BMO [Member] | The Tenth Amendment [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	2%
Debt Instrument, Borrowing Base, Percentage of Receivables	50%
Debt Instrument, Borrowing Base	$ 30,000
BMO [Member] | The Ninth Amendment [Member] | Subsequent Event [Member]
Debt Instrument, Covenant, Maximum Cash Dividends	$ 3,000
BMO [Member] | The Ninth Amendment [Member] | Term Loan [Member]
Debt Instrument, Covenant, Minimum Tangible Net Worth Plus Half of Net Income		$ 100,000	100,000
BMO [Member] | The Ninth Amendment [Member] | Term Loan [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		3.625%
BMO [Member] | The Ninth Amendment [Member] | Term Loan [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.125%
BMO [Member] | The Ninth Amendment [Member] | Term Loan [Member] | Subsequent Event [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.875%
BMO [Member] | The Ninth Amendment [Member] | Term Loan [Member] | Subsequent Event [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.375%
BMO [Member] | The Ninth Amendment [Member] | Unused Revolving Credit Commitment [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		0.30%
BMO [Member] | The Ninth Amendment [Member] | Unused Revolving Credit Commitment [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		0.15%
BMO [Member] | The Ninth Amendment [Member] | Unused Revolving Credit Commitment [Member] | Subsequent Event [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.15%
BMO [Member] | The Ninth Amendment [Member] | Unused Revolving Credit Commitment [Member] | Subsequent Event [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.10%
BMO [Member] | The Ninth Amendment [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 40,000	$ 40,000
BMO [Member] | The Ninth Amendment [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		3.50%
Fixed Charge Coverage Ratio		1.1	1.1
BMO [Member] | The Ninth Amendment [Member] | Revolving Credit Facility [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		2%
Total Funded Debt To EBITDA Allowable Ratio		3.5	3.5
BMO [Member] | The Ninth Amendment [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.75%
BMO [Member] | The Ninth Amendment [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%

Note J - Long-term Debt and S_4

Note J - Long-term Debt and Subsequent Event - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 29, 2024	Jun. 30, 2023	Mar. 31, 2023
Long-term debt	$ 17,042	$ 18,627
Less: current maturities	(2,000)	(2,010)	$ (2,000)
Total long-term debt	15,042	16,617	$ 29,276
Revolving Loan [Member]
Long-term debt	7,019	7,094
Term Loan [Member]
Long-term debt	10,000	11,500
Other Long-Term Debt [Member]
Long-term debt	$ 23	$ 33

Note K - Shareholders' Equity_2

Note K - Shareholders' Equity (Details Textual) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Jun. 30, 2023	Jul. 01, 2022
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares)	315
Treasury Stock, Shares, Acquired (in shares)	0	0
Retained Earnings (Accumulated Deficit)	$ 122,759	$ 113,524	$ 120,299
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (7,094)	(5,212)	$ (5,570)
Revision of Prior Period, Change in Accounting Principle, Adjustment [Member]
Retained Earnings (Accumulated Deficit)		(23,291)		$ (25,100)
Accumulated Other Comprehensive Income (Loss), Net of Tax		$ 23,291		25,100
AOCI Including Portion Attributable to Noncontrolling Interest, Tax				0
Deferred Tax Assets, Gross				7,900
Deferred Tax Assets, Valuation Allowance				$ 7,900

Note K - Shareholders' Equity -

Note K - Shareholders' Equity - Shareholders' Equity Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 29, 2024	Dec. 29, 2023	Sep. 29, 2023	Mar. 31, 2023	Dec. 30, 2022	Sep. 30, 2022	Mar. 29, 2024	Mar. 31, 2023
Balance	$ 145,910	$ 140,175	$ 145,517	$ 133,765	$ 124,768	$ 131,188	$ 145,517	$ 131,188
Net income	3,900	935	(1,083)	3,357	1,761	(1,324)	3,752	3,793
Translation adjustments	(3,084)	5,190	(3,036)	1,014	8,392	(6,290)	(930)	3,116
Benefit plan adjustments, net of tax	(191)	(108)	(171)	(29)	(1,122)	(89)	(470)	(1,240)
Unrealized gain (loss) on hedges	196	(485)	216	(224)	(595)	793	(73)	(26)
Compensation expense	791	772	495	736	856	658
Shares (acquired) issued, net	(19)	(9)	(1,763)		(295)	(168)
Dividends paid to shareholders	(559)	(560)
Translation adjustments	(3,084)	5,190	(3,036)	1,014	8,392	(6,290)	(930)	3,116
Balance	146,944	145,910	140,175	138,619	133,765	124,768	146,944	138,619
Common Stock [Member]
Balance	39,661	39,439	42,855	41,444	41,285	42,551	42,855	42,551
Compensation expense	791	772	495	736	856	658
Shares (acquired) issued, net	(24)	(550)	(3,911)	(35)	(697)	(1,924)
Balance	40,428	39,661	39,439	42,145	41,444	41,285	40,428	42,145
Retained Earnings [Member]
Balance	119,496	119,126	120,299	110,243	108,497	109,919	120,299	109,919
Net income	3,822	930	(1,173)	3,281	1,746	(1,422)
Dividends paid to shareholders	(559)	(560)
Balance	122,759	119,496	119,126	113,524	110,243	108,497	122,759	113,524
AOCI Attributable to Parent [Member]
Balance	(4,059)	(8,621)	(5,570)	(5,982)	(12,598)	(6,974)	(5,570)	(6,974)
Translation adjustments	(3,040)	5,155	(3,096)	1,023	8,333	(6,328)		3,028
Benefit plan adjustments, net of tax	(191)	(108)	(171)	(29)	(1,122)	(89)
Unrealized gain (loss) on hedges	196	(485)	216	(224)	(595)	793		(26)
Translation adjustments	(3,040)	5,155	(3,096)	1,023	8,333	(6,328)		3,028
Balance	(7,094)	(4,059)	(8,621)	(5,212)	(5,982)	(12,598)	(7,094)	(5,212)
Treasury Stock, Common [Member]
Balance	(9,802)	(10,343)	(12,491)	(12,562)	(12,964)	(14,720)	(12,491)	(14,720)
Shares (acquired) issued, net	5	541	2,148	35	402	1,756
Balance	(9,797)	(9,802)	(10,343)	(12,527)	(12,562)	(12,964)	(9,797)	(12,527)
Noncontrolling Interest [Member]
Balance	614	574	424	622	548	412	424	412
Net income	78	5	90	76	15	98
Translation adjustments	(44)	35	60	(9)	59	38
Translation adjustments	(44)	35	60	(9)	59	38
Balance	$ 648	$ 614	$ 574	$ 689	$ 622	$ 548	$ 648	$ 689

Note K - Shareholders' Equity_3

Note K - Shareholders' Equity - Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 29, 2024	Dec. 29, 2023	Sep. 29, 2023	Mar. 31, 2023	Dec. 30, 2022	Sep. 30, 2022	Mar. 29, 2024	Mar. 31, 2023
Balance	$ 145,910	$ 140,175	$ 145,517	$ 133,765	$ 124,768	$ 131,188	$ 145,517	$ 131,188
Translation adjustment during the quarter	(3,084)	5,190	(3,036)	1,014	8,392	(6,290)	(930)	3,116
Balance	146,944	145,910	140,175	138,619	133,765	124,768	146,944	138,619
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	477	(4,678)	(1,582)	(261)	(8,594)	(2,266)	(1,582)	(2,266)
Translation adjustment during the quarter	(3,040)	5,155	(3,096)	1,023	8,333	(6,328)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0		0
Net current period other comprehensive (loss) income	3,040	(5,155)	3,096	(1,023)	(8,333)	6,328
Net current period other comprehensive income (loss)	(3,040)	5,155	(3,096)	1,023	8,333	(6,328)
Balance	(2,563)	477	(4,678)	762	(261)	(8,594)	(2,563)	762
Plan merger adjustment					0
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Balance	(6,227)	(6,119)	(5,948)	(7,825)	(6,703)	(6,614)	(5,948)	(6,614)
Translation adjustment during the quarter	0	0	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss	(191)	(108)	(171)	(29)	(7)	(89)
Net current period other comprehensive (loss) income	191	108	171	29	1,122	89
Net current period other comprehensive income (loss)	(191)	(108)	(171)	(29)	(1,122)	(89)
Balance	(6,418)	(6,227)	(6,119)	(7,854)	(7,825)	(6,703)	(6,418)	(7,854)
Plan merger adjustment					(1,115)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance	499	682	688	1,003	1,013	356	688	356
Translation adjustment during the quarter	0	0	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss	40	(183)	(6)	(133)	(10)	657
Net current period other comprehensive (loss) income	(40)	183	6	133	10	(657)
Net current period other comprehensive income (loss)	40	(183)	(6)	(133)	(10)	657
Balance	539	499	682	870	1,003	1,013	539	870
Plan merger adjustment					0
Accumulated Gain (Loss), Net, Net Investment Hedge [Member]
Balance	1,192	1,494	1,272	1,101	1,686	1,550	1,272	1,550
Translation adjustment during the quarter	0	0	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss	156	(302)	222	(91)	(585)	136
Net current period other comprehensive (loss) income	(156)	302	(222)	91	585	(136)
Net current period other comprehensive income (loss)	156	(302)	222	(91)	(585)	136
Balance	$ 1,348	$ 1,192	$ 1,494	$ 1,010	1,101	$ 1,686	$ 1,348	$ 1,010
Plan merger adjustment					$ 0

Note K - Shareholders' Equity_4

Note K - Shareholders' Equity - Reconciliation for the Reclassifications Out of Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands		3 Months Ended						9 Months Ended
		Mar. 29, 2024	Dec. 29, 2023	Sep. 29, 2023	Mar. 31, 2023	Dec. 30, 2022	Sep. 30, 2022	Mar. 29, 2024	Mar. 31, 2023
Total amortization		$ 4,298			$ 3,905			$ 6,358	$ 6,143
Income tax expense		398			548			2,606	2,350
Net income		3,900	$ 935	$ (1,083)	3,357	$ 1,761	$ (1,324)	3,752	3,793
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Actuarial losses	[1]	(198)			630			(461)	1,853
Transition asset and prior service benefit	[1]	3			(51)			11	(152)
Total amortization		(201)			(28)			(472)	(1,235)
Income tax expense		10			(1)			2	(5)
Net income		(191)			(29)			(470)	(1,240)
Actuarial gains	[1]	$ (198)			630			$ (461)	1,853
Mark-to-market adjustment					(607)				(1,821)
Plan merger adjustment					$ 0				$ 1,115
[1]These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note G, "Pension and Other Postretirement Benefit Plans" for further details).

Note L - Assets Held for Sale (

Note L - Assets Held for Sale (Details Textual) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Mar. 29, 2024	Sep. 29, 2023	Mar. 25, 2022	Mar. 29, 2024	Mar. 31, 2023
Proceeds from Sale of Property, Plant, and Equipment				$ 0	$ 7,177
Gain (Loss) on Disposition of Assets				$ 87	$ 4,237
Boat Management System Product Line [Member]
Inventory Write-down	$ 2,100	$ 2,100
Property, Plant, and Equipment Reclassified to Assets Held for Sale [Member]
Increase (Decrease) in Asset, Held-for-Sale	2,801
Propeller Machining Plant and Office in Switzerland [Member]
Proceeds from Sale of Property, Plant, and Equipment	7,150
Gain (Loss) on Disposition of Assets	$ 4,161
Employee Severance [Member]
Impairment of Long-Lived Assets to be Disposed of			$ 4,267

Note M - Earnings Per Share (De

Note M - Earnings Per Share (Details Textual) - shares	9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	224,600	355,500
PSAU Award [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	10,500
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	153,900	191,600
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	51,000	59,500

Note M - Earnings Per Share - C

Note M - Earnings Per Share - Components of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 29, 2024	Dec. 29, 2023	Sep. 29, 2023	Mar. 31, 2023	Dec. 30, 2022	Sep. 30, 2022	Mar. 29, 2024	Mar. 31, 2023
Net income	$ 3,900	$ 935	$ (1,083)	$ 3,357	$ 1,761	$ (1,324)	$ 3,752	$ 3,793
Less: Net earnings attributable to noncontrolling interest	(78)			(76)			(173)	(188)
Less: Undistributed earnings attributable to unvested shares	0			0			0	0
Net income attributable to Twin Disc	$ 3,822			$ 3,281			$ 3,579	$ 3,605
Weighted average shares outstanding - basic (in shares)	13,742			13,504			13,663	13,455
Basic income per share attributable to Twin Disc common shareholders (in dollars per share)	$ 0.28			$ 0.24			$ 0.26	$ 0.27
Effect of dilutive stock awards (in shares)	162			158			189	153
Weighted average shares outstanding - diluted (in shares)	13,904			13,662			13,852	13,608
Diluted income per share attributable to Twin Disc common shareholders (in dollars per share)	$ 0.27			$ 0.24			$ 0.26	$ 0.26

Note N - Lease Obligations - Co

Note N - Lease Obligations - Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 29, 2024	Jun. 30, 2023	Mar. 31, 2023
Assets [Abstract]
Property, plant and equipment, net	$ 40,606	$ 38,650	$ 40,700
Current liabilities:
Accrued Liabilities, Current	63,406	61,586	56,886
Liabilities, Noncurrent [Abstract]
Other long-term liabilities	5,822	5,253	5,403
Operating lease right-of-use assets	$ 14,498	13,133	12,415
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant and equipment, net
Finance lease right-of-use assets	$ 4,845	4,427
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current
Operating lease liabilities	$ 1,957	2,343
Operating lease liabilities	$ 12,638	10,811	$ 9,897
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current
Finance lease liabilities	$ 628	643
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities
Finance lease liabilities	$ 4,542	$ 4,314

Note N - Lease Obligations - _2

Note N - Lease Obligations - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Mar. 29, 2024	Mar. 31, 2023
Amortization of right-of-use assets	$ 206	$ 187	$ 603	$ 498
Interest on lease liabilities	76	87	227	219
Operating lease cost	941	852	2,716	2,250
Short-term lease cost	1	2	9	5
Variable lease cost	101	94	301	202
Total lease cost	1,325	1,222	3,856	3,174
Less: Sublease income	(20)	(18)	(61)	(53)
Net lease cost	$ 1,305	$ 1,204	$ 3,795	$ 3,121

Note N - Lease Obligations - Ot

Note N - Lease Obligations - Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Mar. 29, 2024	Mar. 31, 2023
Operating cash flows from operating leases	$ 951	$ 873	$ 2,822	$ 2,268
Operating cash flows from finance leases	76	138	225	270
Financing cash flows from finance leases	192	73	663	231
Right-of-use-assets obtained in exchange for lease obligations: Operating leases	3,551	218	3,739	1,736
Right-of-use-assets obtained in exchange for lease obligations: Finance leases	$ 227	$ 47	$ 883	$ 367
Weighted average remaining lease term (years): Operating leases (Year)	9 years 3 months 18 days	8 years 9 months 18 days	9 years 3 months 18 days	8 years 9 months 18 days
Weighted average remaining lease term (years): Finance lease (Year)	9 years 3 months 18 days	11 years 3 months 18 days	9 years 3 months 18 days	11 years 3 months 18 days
Weighted average discount rate: Operating leases	8.20%	7.20%	8.20%	7.20%
Weighted average discount rate: Finance leases	5.90%	5.20%	5.90%	5.20%

Note N - Lease Obligations - Fu

Note N - Lease Obligations - Future Minimum Rental Commitments Under Noncancelable Leases (Details) $ in Thousands	Mar. 29, 2024 USD ($)
2024, Operating Leases	$ 766
2024, Finance Leases	248
2025, Operating Leases	2,828
2025, Finance Leases	877
2026, Operating Leases	2,288
2026, Finance Leases	828
2027, Operating Leases	2,023
2027, Finance Leases	775
2028, Operating Leases	1,972
2028, Finance Leases	695
2029, Operating Leases	1,965
2029, Finance Leases	513
Thereafter, Operating Leases	9,844
Thereafter, Finance Leases	2,674
Total future lease payments, Operating Leases	21,686
Total future lease payments, Finance Leases	6,610
Less: Amount representing interest, Operating Leases	(7,091)
Less: Amount representing interest, Finance Leases	(1,440)
Present value of future payments, Operating Leases	14,595
Present value of future payments, Finance Leases	$ 5,170

Note O - Derivative Financial_3

Note O - Derivative Financial Instruments (Details Textual) $ in Thousands, € in Millions	3 Months Ended
	Mar. 29, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 29, 2023 USD ($)	Sep. 29, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 EUR (€)
Equity, Including Portion Attributable to Noncontrolling Interest	$ 146,944	$ 145,517	$ 145,910	$ 140,175	$ 138,619	$ 133,765	$ 124,768	$ 131,188
Cash Flow Hedge Gain (Loss) to be Reclassified within 12 Months	$ 230
Interest Rate Swap [Member]
Derivative, Number of Instruments Held	1
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Bank of Montreal [Member]
Derivative, Notional Amount	$ 10,000	20,000
Equity, Including Portion Attributable to Noncontrolling Interest	539	688
Euro Denominated Revolving Loan [Member] | Net Investment Hedging [Member] | Designated as Hedging Instrument [Member]
Derivative, Notional Amount | €									€ 13
Derivative, Gain (Loss) on Derivative, Net	$ (1,348)	$ (1,272)

Note O - Derivative Financial_4

Note O - Derivative Financial Instruments - Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Mar. 29, 2024	Jun. 30, 2023	Mar. 31, 2023
Current assets:
Other Assets, Current	$ 10,451	$ 8,326	$ 8,341
Assets, Noncurrent [Abstract]
Other assets	$ 2,755	2,811	$ 2,668
Interest rate swap	Other Assets, Current
Interest rate swap	Other assets
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Interest rate swap	$ 217	292
Interest rate swap	$ 112	$ 187

Note O - Derivative Financial_5

Note O - Derivative Financial Instruments - Impact of the Company's Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 29, 2024	Dec. 29, 2023	Sep. 29, 2023	Mar. 31, 2023	Dec. 30, 2022	Sep. 30, 2022	Mar. 29, 2024	Mar. 31, 2023
Unrealized gain (loss) on hedges	$ 196	$ (485)	$ 216	$ (224)	$ (595)	$ 793	$ (73)	$ (26)
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Unrealized Gain (Loss) on Hedges [Member] | Cash Flow Hedging [Member]
Unrealized gain (loss) on hedges	40			(133)			(148)	206
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Interest Expense [Member]
Gain (loss) on derivative instruments	62			76			200	238
Euro Denominated Revolving Loan [Member] | Designated as Hedging Instrument [Member] | Unrealized Gain (Loss) on Hedges [Member] | Net Investment Hedging [Member]
Unrealized gain (loss) on hedges	$ 156			$ (91)			$ 75	$ (232)

Note P - Impact of Accounting_3

Note P - Impact of Accounting Method Change - Adjustment to Financial Statements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 29, 2024	Dec. 29, 2023	Sep. 29, 2023	Mar. 31, 2023	Dec. 30, 2022	Sep. 30, 2022	Mar. 29, 2024	Mar. 31, 2023	Jun. 30, 2023	Jul. 01, 2022
Net sales	$ 74,161			$ 73,772			$ 210,709	$ 193,036
Gross profit	20,940			19,265			58,233	49,585
Marketing, engineering and administrative expenses	17,199			14,626			51,268	45,688
Restructuring expenses	139			33			207	208
Other operating expense (income)	0			1			0	(4,149)
Income from operations	3,602			4,605			6,758	7,838
Interest expense	263			522			1,049	1,682
Other (income) expense, net	(959)			178			(649)	13
Interest Income (Expense), Nonoperating	(696)			700			400	1,695
Income before income taxes and noncontrolling interest	4,298			3,905			6,358	6,143
Income tax expense	398			548			2,606	2,350
Net income	3,900	$ 935	$ (1,083)	3,357	$ 1,761	$ (1,324)	3,752	3,793
Less: Net earnings attributable to noncontrolling interest, net of tax	(78)			(76)			(173)	(188)
Net income attributable to Twin Disc	$ 3,822			$ 3,281			$ 3,579	$ 3,605
Basic income per share attributable to Twin Disc common shareholders (in dollars per share)	$ 0.28			$ 0.24			$ 0.26	$ 0.27
Diluted income per share attributable to Twin Disc common shareholders (in dollars per share)	$ 0.27			$ 0.24			$ 0.26	$ 0.26
Basic shares outstanding (in shares)	13,742			13,504			13,663	13,455
Diluted shares outstanding (in shares)	13,904			13,662			13,852	13,608
Benefit plan adjustments, net of income taxes of $10, $(1), $2 and $(5), respectively	$ (191)	(108)	(171)	$ (29)	(1,122)	(89)	$ (470)	$ (1,240)
Translation adjustment during the quarter	(3,084)	5,190	(3,036)	1,014	8,392	(6,290)	(930)	3,116
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively	196	(485)	216	(224)	(595)	793	(73)	(26)
Comprehensive income (loss)	821			4,118			2,279	5,643
Less: Comprehensive income attributable to noncontrolling interest	34			67			224	277
Comprehensive income attributable to Twin Disc	787			4,051			2,055	5,366
Current assets:
Cash	23,843			14,024			23,843	14,024	$ 13,263
Trade accounts receivable, net	40,950			44,438			40,950	44,438	54,760
Inventories	129,845			136,153			129,845	136,153	131,930
Assets held for sale	2,968			2,968			2,968	2,968	2,968
Prepaid expenses	10,471			10,025			10,471	10,025	8,459
Other	10,451			8,341			10,451	8,341	8,326
Total current assets	218,528			215,949			218,528	215,949	219,706
Property, plant and equipment, net	40,606			40,700			40,606	40,700	38,650
Right-of-use assets operating leases	14,498			12,415			14,498	12,415	13,133
Intangible assets, net	10,157			11,239			10,157	11,239	12,637
Deferred income taxes	2,210			2,542			2,210	2,542	2,244
Other assets	2,755			2,668			2,755	2,668	2,811
Total assets	288,754			285,513			288,754	285,513	289,181
Current liabilities:
Current maturities of long-term debt	2,000			2,000			2,000	2,000	2,010
Accounts payable	33,230			29,726			33,230	29,726	36,499
Accrued liabilities	63,406			56,886			63,406	56,886	61,586
Total current liabilities	98,636			88,612			98,636	88,612	100,095
Long-term debt	15,042			29,276			15,042	29,276	16,617
Lease obligations	12,638			9,897			12,638	9,897	10,811
Accrued retirement benefits	6,707			10,315			6,707	10,315	7,608
Deferred income taxes	2,965			3,391			2,965	3,391	3,280
Other long-term liabilities	5,822			5,403			5,822	5,403	5,253
Total liabilities	141,810			146,894			141,810	146,894	143,664
Twin Disc shareholders' equity:
Preferred shares authorized: 200,000; issued: none; no par value	0			0			0	0	0
Common shares authorized: 30,000,000; issued: 14,632,802; no par value	40,428			42,145			40,428	42,145	42,855
Retained earnings	122,759			113,524			122,759	113,524	120,299
Accumulated Other Comprehensive Income (Loss), Net of Tax	(7,094)			(5,212)			(7,094)	(5,212)	(5,570)
Equity before treasury stock	156,093			150,457			156,093	150,457	157,584
Less treasury stock, at cost (638,712 and 814,734 shares, respectively)	9,797			12,527			9,797	12,527	12,491
Total Twin Disc shareholders' equity	146,296			137,930			146,296	137,930	145,093
Noncontrolling interest	648			689			648	689	424
Total equity	146,944	145,910	140,175	138,619	133,765	124,768	146,944	138,619	145,517
Total liabilities and equity	288,754			285,513			288,754	285,513	289,181
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	3,900	935	(1,083)	3,357	1,761	(1,324)	3,752	3,793
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization							7,497	6,936
Gain on sale of assets							(87)	(4,237)
Provision for deferred income taxes							239	(1,462)
Stock compensation expense and other non-cash changes, net							2,242	2,355
Net change in operating assets and liabilities							5,531	(526)
Net cash provided by operating activities							22,273	6,859
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant, and equipment							(7,598)	(6,783)
Proceeds from sale of fixed assets							0	7,177
Proceeds on note receivable								0
Other, net							(167)	199
Net cash (used) provided by investing activities							(7,765)	593
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving loan arrangements							66,661	65,862
Repayments of revolving loan arrangements							(66,661)	(69,823)
Repayments of other long-term debt							(1,510)	(1,534)
Payments of finance lease obligations	(192)			(73)			(663)	(231)
Payments of withholding taxes on stock compensation							(1,791)	(463)
Net cash used by financing activities							(5,083)	(6,189)
Effect of exchange rate changes on cash							1,155	240
Net change in cash							10,580	1,503
Cash:
Beginning of period			13,263			12,521	13,263	12,521
End of period	23,843			14,024			23,843	14,024
Balance	145,910	140,175	145,517	133,765	124,768	131,188	145,517	131,188
Net income attributable to Twin Disc	3,822			3,281			3,579	3,605
Balance	146,944	145,910	140,175	138,619	133,765	124,768	146,944	138,619
Translation adjustment during the quarter	(3,084)	5,190	(3,036)	1,014	8,392	(6,290)	(930)	3,116
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively	196	(485)	216	(224)	(595)	793	(73)	(26)
Retained Earnings [Member]
Net income	3,822	930	(1,173)	3,281	1,746	(1,422)
Net income attributable to Twin Disc								3,605
Twin Disc shareholders' equity:
Total equity	122,759	119,496	119,126	113,524	110,243	108,497	122,759	113,524	120,299
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	3,822	930	(1,173)	3,281	1,746	(1,422)
Cash:
Balance	119,496	119,126	120,299	110,243	108,497	109,919	120,299	109,919
Net income attributable to Twin Disc								3,605
Balance	122,759	119,496	119,126	113,524	110,243	108,497	122,759	113,524
AOCI Attributable to Parent [Member]
Benefit plan adjustments, net of income taxes of $10, $(1), $2 and $(5), respectively	(191)	(108)	(171)	(29)	(1,122)	(89)
Translation adjustment during the quarter	(3,040)	5,155	(3,096)	1,023	8,333	(6,328)		3,028
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively	196	(485)	216	(224)	(595)	793		(26)
Twin Disc shareholders' equity:
Total equity	(7,094)	(4,059)	(8,621)	(5,212)	(5,982)	(12,598)	(7,094)	(5,212)	$ (5,570)
Cash:
Balance	(4,059)	(8,621)	(5,570)	(5,982)	(12,598)	(6,974)	(5,570)	(6,974)
Balance	(7,094)	(4,059)	(8,621)	(5,212)	(5,982)	(12,598)	$ (7,094)	(5,212)
Translation adjustment during the quarter	(3,040)	5,155	(3,096)	1,023	8,333	(6,328)		3,028
Benefit plan adjustments, net of tax								(1,240)
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively	$ 196	$ (485)	$ 216	(224)	$ (595)	793		(26)
Previously Reported [Member]
Net sales				73,772				193,036
Cost of goods sold				54,507				143,451
Gross profit				19,265				49,585
Marketing, engineering and administrative expenses				14,626				45,688
Restructuring expenses				33				208
Other operating expense (income)				1				(4,149)
Income from operations				4,605				7,838
Interest expense				522				1,682
Other (income) expense, net				785				1,834
Interest Income (Expense), Nonoperating				1,307				3,516
Income before income taxes and noncontrolling interest				3,298				4,322
Income tax expense				548				2,350
Net income				2,750				1,972
Less: Net earnings attributable to noncontrolling interest, net of tax				(76)				(188)
Net income attributable to Twin Disc				$ 2,674				$ 1,784
Basic income per share attributable to Twin Disc common shareholders (in dollars per share)				$ 0.2				$ 0.13
Diluted income per share attributable to Twin Disc common shareholders (in dollars per share)				$ 0.2				$ 0.13
Basic shares outstanding (in shares)				13,504,000				13,455,000
Diluted shares outstanding (in shares)				13,662,000				13,608,000
Benefit plan adjustments, net of income taxes of $10, $(1), $2 and $(5), respectively				$ 578				$ 581
Translation adjustment during the quarter				1,014
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively				(224)				(26)
Comprehensive income (loss)				4,118				5,643
Less: Comprehensive income attributable to noncontrolling interest				67
Comprehensive income attributable to Twin Disc				4,051				5,366
Current assets:
Cash				14,024				14,024
Trade accounts receivable, net				44,438				44,438
Inventories				136,153				136,153
Assets held for sale				2,968				2,968
Prepaid expenses				10,025				10,025
Other				8,341				8,341
Total current assets				215,949				215,949
Property, plant and equipment, net				40,700				40,700
Right-of-use assets operating leases				12,415				12,415
Intangible assets, net				11,239				11,239
Deferred income taxes				2,542				2,542
Other assets				2,668				2,668
Total assets				285,513				285,513
Current liabilities:
Current maturities of long-term debt				2,000				2,000
Accounts payable				29,726				29,726
Accrued liabilities				56,886				56,886
Total current liabilities				88,612				88,612
Long-term debt				29,276				29,276
Lease obligations				9,897				9,897
Accrued retirement benefits				10,315				10,315
Deferred income taxes				3,391				3,391
Other long-term liabilities				5,403				5,403
Total liabilities				146,894				146,894
Twin Disc shareholders' equity:
Preferred shares authorized: 200,000; issued: none; no par value				0				0
Common shares authorized: 30,000,000; issued: 14,632,802; no par value				42,145				42,145
Retained earnings				136,815				136,815
Accumulated Other Comprehensive Income (Loss), Net of Tax				(28,503)				(28,503)
Equity before treasury stock				150,457				150,457
Less treasury stock, at cost (638,712 and 814,734 shares, respectively)				12,527				12,527
Total Twin Disc shareholders' equity				137,930				137,930
Noncontrolling interest				689				689
Total equity				138,619				138,619
Total liabilities and equity				285,513				285,513
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income				2,750				1,972
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization								6,936
Gain on sale of assets								(4,237)
Provision for deferred income taxes								(1,462)
Stock compensation expense and other non-cash changes, net								2,355
Net change in operating assets and liabilities								1,295
Net cash provided by operating activities								6,859
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant, and equipment								(6,783)
Proceeds from sale of fixed assets								7,177
Proceeds on note receivable								0
Other, net								199
Net cash (used) provided by investing activities								593
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving loan arrangements								65,862
Repayments of revolving loan arrangements								(69,823)
Repayments of other long-term debt								(1,534)
Payments of finance lease obligations								(231)
Payments of withholding taxes on stock compensation								(463)
Net cash used by financing activities								(6,189)
Effect of exchange rate changes on cash								240
Net change in cash								1,503
Cash:
Beginning of period						12,521		12,521
End of period				14,024				14,024
Net income attributable to Twin Disc				2,674				1,784
Balance				138,619				138,619
Translation adjustment during the quarter				1,014
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively				(224)				(26)
Previously Reported [Member] | Retained Earnings [Member]
Net income attributable to Twin Disc								1,784
Twin Disc shareholders' equity:
Total equity				136,815				136,815
Cash:
Balance						135,031		135,031
Net income attributable to Twin Disc								1,784
Balance				136,815				136,815
Previously Reported [Member] | AOCI Attributable to Parent [Member]
Translation adjustment during the quarter								3,028
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively								(26)
Twin Disc shareholders' equity:
Total equity				(28,503)				(28,503)
Cash:
Balance						(32,086)		(32,086)
Balance				(28,503)				(28,503)
Translation adjustment during the quarter								3,028
Benefit plan adjustments, net of tax								581
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively								(26)
Revision of Prior Period, Change in Accounting Principle, Adjustment [Member]
Net sales				0				0
Cost of goods sold				0				0
Gross profit				0				0
Marketing, engineering and administrative expenses				0				0
Restructuring expenses				0				0
Other operating expense (income)				0				0
Income from operations				0				0
Interest expense				0				0
Other (income) expense, net				(607)				(1,821)
Interest Income (Expense), Nonoperating				(607)				(1,821)
Income before income taxes and noncontrolling interest				607				1,821
Income tax expense				0				0
Net income				607				1,821
Less: Net earnings attributable to noncontrolling interest, net of tax				0				0
Net income attributable to Twin Disc				$ 607				$ 1,821
Basic income per share attributable to Twin Disc common shareholders (in dollars per share)				$ 0.04				$ 0.14
Diluted income per share attributable to Twin Disc common shareholders (in dollars per share)				$ 0.04				$ 0.13
Basic shares outstanding (in shares)				0				0
Diluted shares outstanding (in shares)				0				0
Benefit plan adjustments, net of income taxes of $10, $(1), $2 and $(5), respectively				$ (607)				$ (1,821)
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively				0				0
Comprehensive income (loss)				0				0
Comprehensive income attributable to Twin Disc				0				0
Current assets:
Cash				0				0
Trade accounts receivable, net				0				0
Inventories				0				0
Assets held for sale				0				0
Prepaid expenses				0				0
Other				0				0
Total current assets				0				0
Property, plant and equipment, net				0				0
Right-of-use assets operating leases				0				0
Intangible assets, net				0				0
Deferred income taxes				0				0
Other assets				0				0
Total assets				0				0
Current liabilities:
Current maturities of long-term debt				0				0
Accounts payable				0				0
Accrued liabilities				0				0
Total current liabilities				0				0
Long-term debt				0				0
Lease obligations				0				0
Accrued retirement benefits				0				0
Deferred income taxes				0				0
Other long-term liabilities				0				0
Total liabilities				0				0
Twin Disc shareholders' equity:
Preferred shares authorized: 200,000; issued: none; no par value				0				0
Common shares authorized: 30,000,000; issued: 14,632,802; no par value				0				0
Retained earnings				(23,291)				(23,291)		$ (25,100)
Accumulated Other Comprehensive Income (Loss), Net of Tax				23,291				23,291		$ 25,100
Equity before treasury stock				0				0
Less treasury stock, at cost (638,712 and 814,734 shares, respectively)				0				0
Total Twin Disc shareholders' equity				0				0
Noncontrolling interest				0				0
Total equity				0				0
Total liabilities and equity				0				0
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income				607				1,821
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization								0
Gain on sale of assets								0
Provision for deferred income taxes								0
Stock compensation expense and other non-cash changes, net								0
Net change in operating assets and liabilities								(1,821)
Net cash provided by operating activities								0
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant, and equipment								0
Proceeds from sale of fixed assets								0
Proceeds on note receivable								0
Other, net								0
Net cash (used) provided by investing activities								0
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving loan arrangements								0
Repayments of revolving loan arrangements								0
Repayments of other long-term debt								0
Payments of finance lease obligations								0
Payments of withholding taxes on stock compensation								0
Net cash used by financing activities								0
Effect of exchange rate changes on cash								0
Net change in cash								0
Cash:
Beginning of period						0		0
End of period				0				0
Net income attributable to Twin Disc				607				1,821
Balance				0				0
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively				0				0
Revision of Prior Period, Change in Accounting Principle, Adjustment [Member] | Retained Earnings [Member]
Net income attributable to Twin Disc								1,821
Twin Disc shareholders' equity:
Total equity				(23,291)				(23,291)
Cash:
Balance						(25,112)		(25,112)
Net income attributable to Twin Disc								1,821
Balance				(23,291)				(23,291)
Revision of Prior Period, Change in Accounting Principle, Adjustment [Member] | AOCI Attributable to Parent [Member]
Translation adjustment during the quarter								0
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively								0
Twin Disc shareholders' equity:
Total equity				23,291				23,291
Cash:
Balance						$ 25,112		25,112
Balance				23,291				23,291
Translation adjustment during the quarter								0
Benefit plan adjustments, net of tax								(1,821)
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively								0
As Reported Under New Method [Member]
Net sales				73,772				193,036
Cost of goods sold				54,507				143,451
Gross profit				19,265				49,585
Marketing, engineering and administrative expenses				14,626				45,688
Restructuring expenses				33				208
Other operating expense (income)				1				(4,149)
Income from operations				4,605				7,838
Interest expense				522				1,682
Other (income) expense, net				178				13
Interest Income (Expense), Nonoperating				700				1,695
Income before income taxes and noncontrolling interest				3,905				6,143
Income tax expense				548				2,350
Net income				3,357				3,793
Less: Net earnings attributable to noncontrolling interest, net of tax				(76)				(188)
Net income attributable to Twin Disc				$ 3,281				$ 3,605
Basic income per share attributable to Twin Disc common shareholders (in dollars per share)				$ 0.24				$ 0.27
Diluted income per share attributable to Twin Disc common shareholders (in dollars per share)				$ 0.24				$ 0.26
Basic shares outstanding (in shares)				13,504,000				13,455,000
Diluted shares outstanding (in shares)				13,662,000				13,608,000
Benefit plan adjustments, net of income taxes of $10, $(1), $2 and $(5), respectively				$ (29)				$ (1,240)
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively				(224)				(26)
Comprehensive income (loss)				4,118				5,643
Comprehensive income attributable to Twin Disc				4,051				5,366
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income				3,357				3,793
Cash:
Net income attributable to Twin Disc				3,281				3,605
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively				$ (224)				$ (26)

Note P - Impact of Accounting_4

Note P - Impact of Accounting Method Change - Adjustment to Financial Statements (Details) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2024	Mar. 31, 2023	Mar. 29, 2024	Mar. 31, 2023	Jun. 30, 2023
Benefit plan adjustments, income taxes	$ 10	$ (1)	$ 2	$ (5)
Unrealized loss on cash flow hedge, income taxes	$ 0	$ 0	$ 0	$ 0
Preferred Shares, Authorized (in shares)	200,000	200,000	200,000	200,000	200,000
Preferred Shares, Issued (in shares)	0	0	0	0	0
Preferred Shares, No Par Value (in dollars per share)	$ 0	$ 0	$ 0	$ 0	$ 0
Common shares, authorized (in shares)	30,000,000	30,000,000	30,000,000	30,000,000	30,000,000
Common shares, shares issued (in shares)	14,632,802	14,632,802	14,632,802	14,632,802	14,632,802
Common shares, no par value (in dollars per share)	$ 0	$ 0	$ 0	$ 0	$ 0
Treasury Stock, Common, Shares (in shares)	638,712	819,398	638,712	819,398	814,734
Previously Reported [Member]
Benefit plan adjustments, income taxes		$ 1		$ 1
As Reported Under New Method [Member]
Benefit plan adjustments, income taxes		$ 5		$ 5