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Broadwind Inc (BWEN) specializes in precision manufacturing for clean technology and heavy industrial applications, serving energy, mining, and infrastructure sectors. This page aggregates official company announcements, financial updates, and strategic developments for stakeholders seeking timely information.
Access comprehensive coverage of BWEN's operational milestones including earnings reports, product launches, and strategic partnerships. Our curated news collection simplifies tracking manufacturing innovations, facility expansions, and market positioning within the precision engineering sector.
Key updates include developments in heavy fabrications, gearing solutions, and industrial technologies. Stay informed about BWEN's advancements in sustainable manufacturing practices and specialized component production through verified press releases.
Bookmark this page for direct access to Broadwind's latest corporate communications. Check regularly for updates on operational efficiency initiatives and leadership announcements impacting the clean tech manufacturing landscape.
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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