Note S - 2025 Impact of Accounting Method Change (Tables)

12 Months Ended

Jun. 30, 2026

Notes Tables

Accounting Standards Update and Change in Accounting Principle [Table Text Block]

Consolidated Statements of Operations and Comprehensive Income (Loss)		As Computed Under Previous Method				Effect of Accounting Change				As Reported Under New Method
Cost of goods sold		$	279,197			$	(487	)		$	278,710
Gross profit			102,073				487				102,560
Income (loss) from operations			17,473				487				17,960
Income (loss) before income taxes and noncontrolling interest			13,109				487				13,596
Income tax benefit (expense)			21,322				(7,348	)			13,974
Net income (loss)			34,659				(7,089	)			27,570
Net income (loss) attributable to Twin Disc, Incorporated			34,166				(7,089	)			27,077

Comprehensive income (loss)
Net income (loss)		$	34,659			$	(7,089	)		$	27,570
Comprehensive income (loss)			31,083				(7,089	)			23,994
Comprehensive income (loss) attributable to Twin Disc, Incorporated			30,724				(7,089	)			23,635

Earnings (loss) per share data:
Basic earnings (loss) per share attributable to Twin Disc, Incorporated common shareholders		$	2.42			$	(0.50	)		$	1.92
Diluted earnings (loss) per share attributable to Twin Disc, Incorporated common shareholders		$	2.34			$	(0.49	)		$	1.86

Weighted average shares outstanding data:
Basic shares outstanding			14,119				-				14,119
Diluted shares outstanding			14,586				-				14,586

Consolidated Balance Sheets		As Computed Under Previous Method				Effect of Accounting Change				As Reported Under New Method
Inventories, net		$	145,407			$	32,621			$	178,028
Deferred income tax assets			28,669				(7,576	)			21,093
Retained earnings			157,295				25,045				182,340

Consolidated Statements of Cash Flows		As Computed Under Previous Method				Effect of Accounting Change				As Reported Under New Method
Cash flows from operating activities:
Net income (loss)		$	34,659			$	(7,089	)		$	27,570
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Changes in operating assets and liabilities, net of acquired business
Inventories, net			3,778				(487	)			3,291
Provision for deferred income taxes			(25,622	)			7,576				(18,046	)
Net cash provided (used) by operating activities			22,899				-				22,899

Consolidated Statements of Changes in Equity		As Computed Under Previous Method				Effect of Accounting Change				As Reported Under New Method
Retained earnings
Balance at June 30, 2025		$	125,414			$	32,134			$	157,548
Net income (loss) attributable to Twin Disc, Incorporated			34,166				(7,089	)			27,077
Dividends paid to shareholders and non-controlling interest			(2,285	)							(2,285	)
Balance at June 30, 2026		$	157,295			$	25,045			$	182,340

Change in Accounting Principles [Member]

Notes Tables

Accounting Standards Update and Change in Accounting Principle [Table Text Block]

Consolidated Statement of Operations and Comprehensive Income (Loss)		June 30, 2025
		As Computed Under Previous Method				Effect of Accounting Change				As Reported Under New Method

Net sales		$	340,738			$	-			$	340,738
Cost of goods sold			246,433				(1,197	)			245,236
Cost of goods sold - other			1,579				-				1,579
Gross profit			92,726				1,197				93,923

Marketing, engineering and administrative expenses			82,431				-				82,431
Restructuring expenses			408				-				408
Other operating income			-				-				-
Income (loss) from operations			9,887				1,197				11,084

Other Income (expense):
Interest expense			(2,646	)			-				(2,646	)
Other income, net			(5,472	)			-				(5,472	)
			(8,118	)			-				(8,118	)
Income (loss) before income taxes and noncontrolling interest			1,769				1,197				2,966
Income tax benefit (expense)			3,368				-				3,368
Net income (loss)			(1,599	)			1,197				(402	)
Less: Net earnings (loss) attributable to noncontrolling interest, net of tax			295				-				295
Net income (loss) attributable to Twin Disc, Incorporated		$	(1,894	)		$	1,197			$	(697	)

Dividends per share		$	0.16			$	-			$	0.16

Earnings (loss) per share data:
Basic earnings (loss) per share attributable to Twin Disc, Incorporated common shareholders		$	(0.14	)		$	0.09			$	(0.05	)
Diluted earnings (loss) per share attributable to Twin Disc, Incorporated common shareholders		$	(0.14	)		$	0.09			$	(0.05	)

Weighted average shares outstanding data:
Basic shares outstanding			13,856				-				13,856
Diluted shares outstanding			13,856				-				13,856

Comprehensive income (loss)
Net income (loss)		$	(1,599	)		$	1,197			$	(402	)
Benefit plan adjustments, net of income taxes of $13 and $8, respectively			(3,399	)			-				(3,399	)
Foreign currency translation adjustment			15,924				-				15,924
Unrealized gain (loss) on hedges, net of income taxes of $0 and 235, respectively			(1,851	)			-				(1,851	)
Comprehensive income (loss)			9,075				1,197				10,272
Less: Comprehensive income (loss) attributable to noncontrolling interest			334				-				334

Comprehensive income (loss) attributable to Twin Disc, Incorporated		$	8,741			$	1,197			$	9,938

Consolidated Balance Sheet		June 30, 2025
		As Computed Under Previous Method				Effect of Accounting Change				As Reported Under New Method
ASSETS
Current assets:
Cash		$	16,109			$	-			$	16,109
Trade accounts receivable, net			58,941				-				58,941
Inventories, net			151,951				32,134				184,085
Other current assets			19,914								19,914
Total current assets			246,915				32,134				279,049

Property, plant and equipment, net			69,576				-				69,576
Right-of-use assets operating lease assets			17,250				-				17,250
Goodwill			2,892				-				2,892
Intangible assets, net			13,361				-				13,361
Deferred income tax assets			2,812				-				2,812
Other noncurrent assets			2,756				-				2,756
Total assets		$	355,562			$	32,134			$	387,696

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt		$	3,000			$	-			$	3,000
Current maturities of right-of-use operating lease obligations			3,393				-				3,393
Accounts payable			38,745				-				38,745
Accrued liabilities			80,655				-				80,655
Total current liabilities			125,793				-				125,793

Long-term debt			28,446				-				28,446
Right-of-use lease obligations			14,357				-				14,357
Accrued retirement benefits			11,832				-				11,832
Deferred income tax liabilities			4,320				-				4,320
Other long-term liabilities			6,423				-				6,423
Total liabilities			191,171				-				191,171

Twin Disc, Incorporated shareholders' equity:
Preferred shares authorized: 200,000; issued: none; no par value			-				-				-
Common shares authorized: 30,000,000; issued: 14,632,802; no par value			42,269				-				42,269
Retained earnings			125,414				32,134				157,548
Accumulated other comprehensive income (loss)			3,730				-				3,730
			171,413				32,134				203,547
Less treasury stock, at cost (482,181 and 637,778 shares, respectively)			7,402				-				7,402
Total Twin Disc, Incorporated shareholders' equity			164,011				32,134				196,145
Noncontrolling interest			380				-				380
Total equity			164,391				32,134				196,525

Total liabilities and equity		$	355,562			$	32,134			$	387,696

Consolidated Statement of Cash Flows		June 30, 2025
		As Computed Under Previous Method				Effect of Accounting Change				As Reported Under New Method

CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)		$	(1,599	)		$	1,197			$	(402	)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Depreciation and amortization			14,899				-				14,899
Gain on sale of assets			(98	)			-				(98	)
Loss on write-down of industrial product inventory			1,579				-				1,579
Restructuring charges			39				-				39
Provision for deferred income taxes			(1,581	)			-				(1,581	)
Stock compensation expense			4,107				-				4,107
Other, net			1,226				-				1,226
Changes in operating assets and liabilities											-
Trade accounts receivable, net			(2,032	)			-				(2,032	)
Inventories, net			(9,730	)			(1,197	)			(10,927	)
Other assets			2,748				-				2,748
Accounts payable			2,414				-				2,414
Accrued liabilities			12,463				-				12,463
Accrued retirement benefits			(456	)			-				(456	)
Net cash provided (used) by operating activities			23,979				-				23,979

CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant, and equipment			(15,157	)			-				(15,157	)
Acquisition of Kobelt, less cash acquired			(17,236	)			-				(17,236	)
Proceeds from sale of property, plant, and equipment			147				-				147
Other, net			(653	)			-				(653	)
Net cash provided (used) by investing activities			(32,899	)			-				(32,899	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under long-term debt agreement			6,500				-				6,500
Borrowings under revolving loan arrangements			122,264				-				122,264
Repayments of revolving loan arrangements			(122,264	)			-				(122,264	)
Repayments of other long-term debt			(2,500	)			-				(2,500	)
Payments of right-of-use finance lease obligations			(1,119	)			-				(1,119	)
Dividends paid to shareholders			(2,284	)			-				(2,284	)
Dividends paid to noncontrolling interest			(306	)			-				(306	)
Payments of withholding taxes on stock compensation			(1,256	)			-				(1,256	)

Net cash provided (used) by financing activities			(965	)			-				(965	)

Effect of exchange rate changes on cash			5,924				-				5,924
Net change in cash			(3,961	)			-				(3,961	)

Cash:
Beginning of period			20,070				-				20,070

End of period		$	16,109			$	-			$	16,109

Consolidated Statements of Changes in Equity		June 30, 2025
		As Computed Under Previous Method				Effect of Accounting Change				As Reported Under New Method
Retained earnings
Balance at June 30, 2024			129,592				30,937				160,529
Net income (loss) attributable to Twin Disc			(1,894	)			1,197				(697	)
Dividends paid to shareholders			(2,284	)			-				(2,284	)
Balance at June 30, 2025		$	125,414			$	32,134			$	157,548

		For the Quarter Ended
Consolidated Balance Sheets		September 26, 2025												December 26, 2025												March 27, 2026												June 30, 2026
		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				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
Inventories, net		$	158,272			$	32,134			$	190,406			$	163,177			$	32,134			$	195,311			$	160,331			$	32,134			$	192,465			$	145,407			$	32,621			$	178,028
Deferred income tax assets			2,790								2,790				27,551				(7,462	)			20,089				27,248				(7,462	)			19,786				28,669				(7,576	)			21,093
Retained earnings			124,330				32,134				156,464				146,130				24,672				170,802				148,875				24,672				173,547				157,295				25,045				182,340

		For the Quarter Ended
Consolidated Balance Sheets		September 27, 2024												December 27, 2024												March 28, 2025												June 30, 2025
		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				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
Inventories, net		$	143,865			$	30,937			$	174,802			$	128,278			$	30,937			$	159,215			$	137,957			$	30,937			$	168,894			$	151,951			$	32,134			$	184,085
Retained earnings			126,257				30,937				157,194				126,610				30,937				157,547				124,572				30,937				155,509				125,414				32,134				157,548

		For the Quarter Ended
		September 26, 2025												December 26, 2025												March 27, 2026												June 30, 2026
Consolidated Statement of Operations and Comprehensive Income (Loss)		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				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
Cost of goods sold		$	57,062			$	-			$	57,062			$	67,813			$	-			$	67,813			$	69,563			$	-			$	69,563			$	84,760			$	(487	)		$	84,273
Gross profit			22,934				-				22,934				22,367				-				22,367				27,131				-				27,131				29,640				487				30,127
Income (loss) from operations			2,235				-				2,235				2,087				-				2,087				5,822				-				5,822				7,328				487				7,815
Income (loss) before income taxes and noncontrolling interest			571				-				571				698				-				698				5,395				-				5,395				6,445				487				6,932
Income tax benefit (expense)			(983	)			-				(983	)			21,780				(7,462	)			14,318				(1,839	)			-				(1,839	)			2,363				114				2,477
Net income (loss)			(412	)			-				(412	)			22,478				(7,462	)			15,016				3,556				-				3,556				9,036				373				9,409
Net income (loss) attributable to Twin Disc, Incorporated			(518	)			-				(518	)			22,371				(7,462	)			14,909				3,325				-				3,325				8,987				373				9,360

Earnings (loss) per share data:
Basic earnings (loss) per share attributable to Twin Disc, Incorporated common shareholders		$	(0.04	)		$	-			$	(0.04	)		$	1.58			$	(0.53	)		$	1.05			$	0.23			$	-			$	0.23			$	0.63			$	0.03			$	0.66
Diluted earnings (loss) per share attributable to Twin Disc, Incorporated common shareholders		$	(0.04	)		$	-			$	(0.04	)		$	1.55			$	(0.51	)		$	1.04			$	0.23			$	-			$	0.23			$	0.61			$	0.03			$	0.64

Weighted average shares outstanding data:
Basic shares outstanding			13,961				-				13,961				14,165				-				14,165				14,198				-				14,198				14,199				-				14,199
Diluted shares outstanding			13,961				-				13,961				14,389				-				14,389				14,416				-				14,416				14,666				-				14,666

Comprehensive income (loss)
Net income (loss)		$	(412	)		$	-			$	(412	)		$	22,478			$	(7,462	)		$	15,016			$	3,556			$	-			$	3,556			$	9,036			$	373			$	9,409
Comprehensive income (loss)			(2,113	)			-				(2,113	)			24,016				(7,462	)			16,554				1,167				-				1,167				8,013				373				8,386
Comprehensive income (loss) attributable to Twin Disc, Incorporated			(2,304	)			-				(2,304	)			23,936				(7,462	)			16,474				956				-				956				8,136				373				8,509

		For the Quarter Ended
		September 27, 2024												December 27, 2024												March 28, 2025												June 30, 2025
Consolidated Statement of Operations and Comprehensive Income (Loss)		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				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
Cost of goods sold		$	53,575			$	-			$	53,575			$	68,241			$	-			$	68,241			$	59,536			$	-			$	59,536			$	66,660			$	(1,197	)		$	65,463
Gross profit			19,322				-				19,322				21,680				-				21,680				21,706				-				21,706				30,018				1,197				31,215
Income (loss) from operations			(165	)			-				(165	)			2,760				-				2,760				1,947				-				1,947				5,345				1,197				6,542
Income (loss) before income taxes and noncontrolling interest			(2,145	)			-				(2,145	)			2,651				-				2,651				(280	)			-				(280	)			1,543				1,197				2,740
Income tax benefit (expense)		$	627			$	-			$	627			$	1,552			$	-			$	1,552			$	1,142			$	-			$	1,142				47								47
Net income (loss)			(2,772	)			-				(2,772	)			1,099				-				1,099				(1,422	)			-				(1,422	)			1,496				1,197				2,693
Net income (loss) attributable to Twin Disc, Incorporated			(2,765	)			-				(2,765	)			919				-				919				(1,472	)			-				(1,472	)			1,424				1,197				2,621

Earnings (loss) per share data:
Basic earnings (loss) per share attributable to Twin Disc, Incorporated common shareholders		$	(0.20	)		$	-			$	(0.20	)		$	0.07			$	-			$	0.07			$	(0.11	)		$	-			$	(0.11	)		$	0.10			$	0.08			$	0.19
Diluted earnings (loss) per share attributable to Twin Disc, Incorporated common shareholders		$	(0.20	)		$	-			$	(0.20	)		$	0.07			$	-			$	0.07			$	(0.11	)		$	-			$	(0.11	)		$	0.10			$	0.08			$	0.19

Weighted average shares outstanding data:
Basic shares outstanding			13,778				-				13,778				13,868				-				13,868				13,895				-				13,895				13,897				-				13,897
Diluted shares outstanding			13,778				-				13,778				14,058				-				14,058				13,895				-				13,895				13,971				-				13,971

Comprehensive income (loss)
Net income (loss)		$	(2,772	)		$	-			$	(2,772	)		$	1,099			$	-			$	1,099			$	(1,422	)		$	-			$	(1,422	)		$	1,496			$	1,197				2,693
Comprehensive income (loss)			3,760				-				3,760				(10,792	)			-				(10,792	)			2,278				-				2,278				13,829				1,197				15,026
Comprehensive income (loss) attributable to Twin Disc, Incorporated			3,624				-				3,624				(10,914	)			-				(10,914	)			2,196				-				2,196				13,835				1,197				15,032

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References + Details