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Broadwind, Inc. (NASDAQ: BWEN) is a leading precision manufacturer specializing in structures, equipment, and components designed for clean technology and specialized applications. With facilities strategically located across the United States, Broadwind supports various sectors, including energy, mining, and infrastructure. The company's core competencies are heavy fabrications, welding, metal rolling, coatings, gear cutting and shaping, gearbox manufacturing and repair, heat treatment, assembly, engineering, and packaging solutions.
Broadwind operates through three primary segments: Heavy Fabrications, Gearing, and Industrial Solutions. The Heavy Fabrications segment is known for creating large-scale wind towers and other substantial structures crucial for renewable energy projects. The Gearing segment focuses on producing high-precision gears for diverse industries. The Industrial Solutions segment provides an array of engineering and manufacturing services tailored to clients with complex requirements and high-quality standards.
Recently, Broadwind has been a significant beneficiary of the Section 45X advanced manufacturing tax credits, introduced under the Inflation Reduction Act of 2022. This policy change has bolstered the company's financial stability and liquidity, enabling further investments in renewable energy projects and other valuable opportunities.
Noteworthy recent achievements include:
- Third Quarter 2023 Results: Broadwind shared its financial performance and recent developments, emphasizing a solid quarter compared to the same period in 2022. The company hosted an investor call to discuss these results, which can be accessed on their website.
- First Quarter 2024 Results: As of May 14, 2024, Broadwind announced its first-quarter results for 2024, highlighting continued growth and resilient performance.
For investors and stakeholders, Broadwind offers transparency and regular updates through conferences and webcasts, ensuring up-to-date information on the company's performance and strategic direction. By continuously enhancing its capabilities and pursuing innovative solutions, Broadwind positions itself as a formidable player in the clean technology and specialized manufacturing sectors.
Broadwind (BWEN) reported Q3 2024 results with total revenue of $35.5 million and net income of $0.1 million. The company achieved adjusted EBITDA of $3.4 million, representing 9.5% of total revenue. Revenue declined across all segments due to lower sales volumes, with wind tower sections down 54% year-over-year. Despite market challenges, total orders increased 45% in Q3, supporting a backlog of $124.3 million. The company reduced fixed overhead by $3.6M through operating expenditure reductions while maintaining profitability. Broadwind provided Q4 2024 guidance with expected revenue between $31-33 million and adjusted EBITDA of $1.0-1.5 million.
Broadwind (BWEN), a diversified precision manufacturer of specialized components, has scheduled its third quarter 2024 earnings release and conference call. The company will release results before market opens on November 13, 2024, followed by a conference call at 11:00 a.m. ET. The call will include a Q&A session and presentation materials will be available on the company's investor relations website. A replay of the teleconference will be accessible through November 20, 2024.
Broadwind (BWEN) reported Q2 2024 results with total revenue of $36.5 million and net income of $0.5 million, or $0.02 per diluted share. The company achieved non-GAAP adjusted EBITDA of $3.6 million, representing 10.0% of total revenue. Despite a 28% year-over-year revenue decline, Broadwind maintained operational efficiency, resulting in a modest decrease in adjusted EBITDA margin.
Key highlights include:
- Net debt to trailing twelve-month non-GAAP adjusted EBITDA ratio of 1.1x
- Total backlog of $139.1 million as of June 30, 2024
- Book-to-bill ratio of 0.5x for Q2 2024
- Available cash and credit facility of $18.4 million
The company expects improved order activity going into 2025, with a focus on operational efficiency and expansion into energy transition market adjacencies.
Broadwind (Nasdaq: BWEN), a diversified precision manufacturer of specialized components and solutions, has announced the date for its second quarter 2024 results conference call and webcast. The company will release its Q2 2024 results before the market opens on Tuesday, August 13, 2024. A conference call will be held at 11:00 a.m. ET on the same day to discuss the financial results, recent events, and conduct a Q&A session.
Investors can access the webcast and presentation materials through the Investor Relations section of Broadwind's corporate website. To participate in the live teleconference, interested parties can call 877-407-9716. A replay of the teleconference will be available until Tuesday, August 20, 2024, accessible via 844-512-2921 with the Conference ID: 13747800.
Broadwind (Nasdaq: BWEN) reported its Q1 2024 results, highlighting a total revenue of $37.6 million and a net income of $1.5 million, or $0.07 per diluted share. The non-GAAP adjusted EBITDA was $4.2 million, representing 11.1% of total revenue. Despite a 23% year-over-year revenue decline, profitability improved due to a higher value sales mix and cost reductions. Orders grew 43.5% sequentially but declined compared to the prior year. The backlog stood at $159.9 million with a book-to-bill ratio of 0.8x. The company had $22.4 million in cash and available credit. CEO Eric Blashford emphasized the company's shift towards non-wind energy markets and anticipated growth in domestic onshore wind activity by 2025-2026.
Broadwind, a precision manufacturer, will release its first quarter 2024 results on May 14, 2024, followed by a conference call to discuss financial results and recent events. The webcast will be available on the company's Investor Relations website.
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