Broadwind Announces Third Quarter 2025 Results
Broadwind (Nasdaq: BWEN) reported Q3 2025 revenue of $44.2M, up 25% year-over-year, and GAAP net income of $7.5M or $0.32 per diluted share.
Non-GAAP adjusted EBITDA was $2.4M (excludes an $8.2M gain from the Sept. 8 sale of industrial fabrication operations). Total orders rose 90% y/y. Heavy fabrications revenue +43% to $29.4M; industrial solutions +37% to $7.9M; gearing revenue down 23% to $7.1M. Company raised full‑year 2025 revenue guidance to $155–160M, maintains adjusted EBITDA guidance of $9–10M, ended Q3 with $26.8M cash and net leverage of 0.8x.
Broadwind (Nasdaq: BWEN) ha riportato entrate del terzo trimestre 2025 di 44,2 milioni di dollari, in aumento del 25% su base annua, e un utile netto GAAP di 7,5 milioni di dollari oppure 0,32 dollari per azione diluita.
L’EBITDA rettificato non-GAAP è stato di 2,4 milioni di dollari (escluso un guadagno di 8,2 milioni di dollari dalla vendita, l’8 settembre, delle attività di fabbricazione industriale). Gli ordini totali sono aumentati del 90% su base annua. I ricavi per heavy fabrication sono aumentati del 43% a 29,4 milioni; le soluzioni industriali +37% a 7,9 milioni; i ricavi per gearing sono diminuiti del 23% a 7,1 milioni. L’azienda ha incrementato la guidance per l’intero 2025 a 155–160 milioni di dollari, mantiene la guidance per l’EBITDA rettificato di 9–10 milioni, e ha chiuso il terzo trimestre con 26,8 milioni di dollari in cassa e una leva netta di 0,8x.
Broadwind (Nasdaq: BWEN) reportó ingresos del 3T 2025 de 44,2 millones de dólares, un incremento del 25% interanual, y un beneficio neto GAAP de 7,5 millones de dólares o 0,32 dólares por acción diluida.
El EBITDA ajustado no-GAAP fue de 2,4 millones de dólares (excluye una ganancia de 8,2 millones de dólares por la venta, el 8 de septiembre, de operaciones de fabricación industrial). Los pedidos totales subieron un 90% interanual. Los ingresos por heavy fabrications crecieron 43% a 29,4 millones; soluciones industriales +37% a 7,9 millones; ingresos por gearings (transmisiones) -23% a 7,1 millones. La compañía elevó la guía de ingresos para todo 2025 a 155–160 millones de dólares, mantiene la guía de EBITDA ajustado de 9–10 millones, y cerró el 3T con 26,8 millones en efectivo y una palanca neta de 0,8x.
Broadwind (나스닥: BWEN)가 2025년 3분기 매출 4,420만 달러를 보고했고, 전년 대비 25% 증가했으며 GAAP 순이익은 750만 달러 또는 희석 주당 0.32달러를 기록했습니다.
비GAAP 조정 EBITDA는 240만 달러였으며, 9월 8일 산업 제조 사업 매각으로 인한 820만 달러의 이익을 제외한 수치입니다. 총 주문은 연간 90% 증가했습니다. Heavy Fabrications 매출은 43% 증가하여 2940만 달러; Industrial Solutions 37% 증가하여 790만 달러; Gearing 매출은 −23% 감소하여 710만 달러였습니다. 회사는 2025년 연간 매출 가이던스를 155–1600만 달러로 상향했고, 조정 EBITDA 가이던스는 90–1000만 달러를 유지하며, 3분기 말 현금은 2680만 달러, 순차입도는 0.8x로 마감했습니다.
Broadwind (Nasdaq: BWEN) a déclaré un chiffre d’affaires du T3 2025 de 44,2 millions de dollars, en hausse de 25% année après année, et un bénéfice net GAAP de 7,5 millions de dollars ou 0,32 dollar par action diluée.
L’EBITDA ajusté non-GAAP était de 2,4 millions de dollars ( excluant un gain de 8,2 millions de dollars sur la vente, le 8 septembre, des activités de fabrication industrielle). Les commandes totales ont augmenté de 90% en glissement annuel. Les revenus d’Heavy Fabrications ont augmenté de 43% pour atteindre 29,4 millions; Industrial Solutions +37% à 7,9 millions; les revenus de gearing ont diminué de 23% à 7,1 millions. L’entreprise a relevé la guidance de chiffre d’affaires pour l’ensemble de 2025 à 155–160 millions de dollars, maintient la guidance EBITDA ajusté de 9–10 millions, et a terminé le T3 avec 26,8 millions de dollars en liquide et une dette nette de 0,8x.
Broadwind (Nasdaq: BWEN) meldete für das dritte Quartal 2025 einen Umsatz von 44,2 Millionen USD, was einem Anstieg um 25% gegenüber dem Vorjahr entspricht, und einen GAAP-Nettoertrag von 7,5 Millionen USD bzw. 0,32 USD pro verwässerter Aktie.
Nicht-GAAP bereinigtes EBITDA betrug 2,4 Millionen USD (ohne einen Gewinn von 8,2 Millionen USD aus dem Verkauf der Industrie-Fertigungsbetriebe am 8. September). Die Gesamtaufträge stiegen um 90% gegenüber dem Vorjahr. Heavy Fabrications-Umsatz +43% auf 29,4 Millionen; Industrial Solutions +37% auf 7,9 Millionen; Gearing-Umsatz -23% auf 7,1 Millionen. Das Unternehmen hob die Umsatzprognose für das Gesamtjahr 2025 auf 155–160 Millionen USD an, hält die bereinigte EBITDA-Prognose von 9–10 Millionen USD und beendete das Q3 mit 26,8 Millionen USD an Barmitteln sowie einer Nettoverschuldung von 0,8x.
Broadwind (ناسداك: BWEN) أبلغت عن إيرادات الربع الثالث 2025 بلغت 44.2 مليون دولار، بزيادة قدرها 25% على أساس سنوي، وصافي دخل GAAP قدره 7.5 مليون دولار أو 0.32 دولار للسهم المخفف.
كان EBITDA المعدل غير GAAP بمقدار 2.4 مليون دولار (لا يشمل ربحاً قدره 8.2 مليون دولار من بيع أنشطة التصنيع الصناعي في 8 سبتمبر). ارتفعت الطلبات الإجمالية بمقدار 90% على أساس سنوي. الإيرادات من Heavy Fabrications زادت 43% لتصل إلى 29.4 مليون دولار; الحلول الصناعية +37% إلى 7.9 مليون دولار; إيرادات Gearings انخفضت بـ23% إلى 7.1 مليون دولار. رفعت الشركة توجيه الإيرادات للسنة الكلية 2025 إلى 155–160 مليون دولار، واحتفظت بتوجيه EBITDA المعدل البالغ 9–10 ملايين دولار، وأنهت الربع الثالث بسيولة قدرها 26.8 مليون دولار مع رافعة صافية قدرها 0.8x.
- Revenue +25% year-over-year to $44.2M
- Total orders +90% year-over-year
- $8.2M gain from sale of Manitowoc fabrication operations
- Raised full-year 2025 revenue guidance to $155–160M
- Ended Q3 with $26.8M cash and 0.8x net leverage
- Gearing segment sales down 23% to $7.1M
- Gearing segment operating loss of ($0.6M)
- Adjusted EBITDA $2.4M below mid-range guidance context
Insights
Broadwind reports stronger revenue, a one-time sale gain, higher orders and raised revenue guidance for full-year
Revenue grew to
Key dependencies and risks include recurring demand versus the one‑time gain, margin conversion of the stronger revenue mix, and the weaker gearing segment that reduced segment EBITDA. Watch cash and leverage trends given the company reports
Orders surged and heavy fabrications led growth, but gearing weakness offsets some operational progress.
Orders increased ~
Execution risk centers on integrating volumes into Abilene while maintaining delivery and quality for the large tower order to be fulfilled in the first quarter of
CICERO, Ill., Nov. 13, 2025 (GLOBE NEWSWIRE) -- Broadwind (Nasdaq: BWEN, or the “Company”), a diversified precision manufacturer of specialized components and solutions serving global markets, today announced results for the third quarter 2025.
THIRD QUARTER 2025 RESULTS
(As compared to the third quarter 2024)
- Total revenue of
$44.2 million , +25% y/y - GAAP net income of
$7.5 million , or$0.32 per diluted share - Non-GAAP Adjusted EBITDA of
$2.4 million , excluding the$8.2 million gain on the sale of industrial fabrication operations on September 8, 2025 - Total orders of
$43.6 million , +90% y/y - Raising full-year 2025 revenue guidance
MANAGEMENT COMMENTARY
“This year, our team continued to transform Broadwind into a leading precision manufacturing partner of choice to global OEMs,” stated Eric Blashford, President and CEO of Broadwind. “Recent actions to consolidate manufacturing capacity, reduce fixed overhead, and enhance balance sheet optionality have created a strong foundation for profitable growth. Looking ahead, we intend to pursue a returns-driven capital allocation strategy, one that prioritizes investments in new product innovation, strategic acquisitions, and opportunistic share repurchases under our recently announced buyback authorization.”
“Our third quarter performance was driven by strong demand across our power generation and renewables markets,” continued Blashford. “Total third quarter orders increased by nearly
“In early September, we completed the sale of our industrial fabrication operations in Wisconsin, resulting in a gain of
“Early into the fourth quarter, we announced that Broadwind had received
“Including the cash proceeds from the recent sale of our industrial fabrications operations, Broadwind has
“Today, we are raising our revenue guidance for the full-year 2025,” concluded Blashford. “Our strategic focus continues to shift toward the broader opportunities within the power generation and infrastructure markets, which we believe offer a compelling, multi-year runway for growth and value creation. We intend to provide additional commentary around this strategy on our fourth quarter conference call in early 2026.”
CONSOLIDATED THIRD QUARTER 2025 FINANCIAL RESULTS
On September 8, 2025, Broadwind Heavy Fabrications, Inc., a wholly-owned subsidiary of Broadwind, completed the closing of the previously announced sale of certain assets to Wisconsin Heavy Fabrication, LLC, a wholly-owned subsidiary of IES Holdings, Inc. The assets sold in the transaction consisted of specified contracts, equipment, machinery and other personal property, and permits used in the Company’s production facility located in Manitowoc, Wisconsin.
Broadwind reported net income of
Revenue increased
Total orders increased
At the end of the third quarter, Broadwind had total cash on hand and availability under its credit facility of
SEGMENT RESULTS
Heavy Fabrications Segment
Broadwind provides large, complex and precision fabrications, and proprietary industrial processing equipment, to customers in a broad range of industrial markets. Key products include wind towers and compressed natural gas pressure reducing systems.
Heavy fabrications segment sales increased by
Gearing Segment
Broadwind provides custom gearboxes, loose gearing, precision machined components and heat treat services to a broad set of customers in diverse markets, including oil & gas production, surface and underground mining, wind energy, steel, material handling and other infrastructure markets.
Gearing segment sales declined by
Industrial Solutions Segment
Broadwind provides supply chain solutions, light fabrication, inventory management, kitting and assembly services, primarily serving the combined cycle natural gas turbine market as well as other clean technology markets.
Industrial Solutions segment sales increased by
FINANCIAL GUIDANCE
Today, Broadwind provided updated financial guidance for the full year 2025. The following financial guidance reflects the Company’s current expectations and beliefs. All guidance is current as of the time provided and is subject to change.
The Company’s full year 2025 financial guidance excludes the
| Full Year 2025 | |||||||||||
| $ in Millions | Prior Guidance | New Guidance | |||||||||
| Low | High | Low | High | ||||||||
| Total Revenue | $ | 145 | $ | 155 | $ | 155 | $ | 160 | |||
| Adjusted EBITDA | $ | 9 | $ | 10 | $ | 9 | $ | 10 | |||
THIRD QUARTER 2025 RESULTS CONFERENCE CALL
Broadwind will host a conference call today, November 13, 2025, at 11:00 a.m. ET to review the Company’s financial results, discuss recent events and conduct a question-and-answer session.
A webcast of the conference call and accompanying presentation materials will be available in the Investor Relations section of the Company’s corporate website at https://investors.bwen.com/investors. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software.
To participate in the live teleconference:
| Live Teleconference: | 877-407-9716 |
| To listen to a replay of the teleconference, which will be available through Thursday, November 20, 2025: | |
| Teleconference Replay: | 844-512-2921 |
| Conference ID: | 13756444 |
ABOUT BROADWIND
Broadwind (Nasdaq: BWEN) is a precision manufacturer of structures, equipment and components for clean tech and other specialized applications. With facilities throughout the U.S., our talented team is committed to helping customers maximize performance of their investments—quicker, easier and smarter. Find out more at www.bwen.com
NON-GAAP FINANCIAL MEASURES
The Company provides non-GAAP adjusted EBITDA (earnings before interest, income taxes, depreciation, amortization, share-based compensation and other stock payments, restructuring costs, impairment charges, proxy contest-related expenses, other non-cash gains and losses, and the gain from the sale of the Manitowoc industrial fabrication operations) as supplemental information regarding the Company’s business performance. The Company’s management uses this supplemental information when it internally evaluates its performance, reviews financial trends and makes operating and strategic decisions. The Company believes that this non-GAAP financial measure is useful to investors because it provides investors with a better understanding of the Company’s past financial performance and future results, which allows investors to evaluate the Company’s performance using the same methodology and information as used by the Company’s management. The Company's definition of adjusted EBITDA may be different from similar non-GAAP financial measures used by other companies and/or analysts.
FORWARD-LOOKING STATEMENTS
This release contains “forward-looking statements”—that is, statements related to future, not past, events—as defined in Section 21E of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”), that reflect our current expectations regarding our future growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities, as well as assumptions made by, and information currently available to, our management. We have tried to identify forward-looking statements by using words such as “anticipate,” “believe,” “expect,” “intend,” “will,” “should,” “may,” “plan” and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. Forward-looking statements include any statement that does not directly relate to a current or historical fact. Our forward-looking statements may include or relate to our beliefs, expectations, plans and/or assumptions with respect to the following: (i) our expectations and beliefs with respect to our financial guidance as set forth in the Company’s press releases from time to time; (ii) the impact of global health concerns on the economies and financial markets and the demand for our products; (iii) state, local and federal regulatory frameworks affecting the industries in which we compete, including the wind energy industry, and the related phase out, extension, continuation or renewal of federal tax incentives and grants, including the advanced manufacturing tax credits and state renewable portfolio standards as well as new or continuing tariffs on steel or other products imported into the United States; (iv) our customer relationships and our substantial dependency on a few significant customers and our efforts to diversify our customer base and sector focus and leverage relationships across business units; (v) our ability to operate our business efficiently, comply with our debt obligations, manage capital expenditures and costs effectively, and generate cash flow; (vi) the economic and operational stability of our significant customers and suppliers, including their respective supply chains, and the ability to source alternative suppliers as necessary; (vii) our ability to continue to grow our business organically and through acquisitions; (viii) the production, sales, collections, customer deposits and revenues generated by new customer orders and our ability to realize the resulting cash flows; (ix) information technology failures, network disruptions, cybersecurity attacks or breaches in data security; (x) the sufficiency of our liquidity and alternate sources of funding, if necessary; (xi) our ability to realize revenue from customer orders and backlog (including our ability to finalize the terms of the remaining obligations under a supply agreement with a leading global wind turbine manufacturer); (xii) the economy and the potential impact it may have on our business, including our customers; (xiii) the state of the wind energy market and other energy and industrial markets generally, including the availability of tax credits, and the impact of competition and economic volatility in those markets; (xiv) the effects of market disruptions and regular market volatility, including fluctuations in the price of oil, gas and other commodities; (xv) competition from new or existing industry participants including, in particular, increased competition from foreign tower manufacturers; (xvi) the effects of the change of administrations in the U.S. federal government; (xvii) our ability to successfully integrate and operate acquired companies and to identify, negotiate and execute future acquisitions; (xviii) the potential loss of tax benefits if we experience an “ownership change” under Section 382 of the Internal Revenue Code of 1986, as amended; (xix) the effects of proxy contests and actions of activist stockholders; (xx) the limited trading market for our securities and the volatility of market price for our securities; (xxi) our outstanding indebtedness and its impact on our business activities (including our ability to incur additional debt in the future); and (xxii) the impact of future sales of our common stock or securities convertible into our common stock on our stock price. These statements are based on information currently available to us and are subject to various risks, uncertainties and other factors that could cause our actual growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities to differ materially from those expressed in, or implied by, these statements including, but not limited to, those set forth under the caption “Risk Factors” in Part I, Item 1A of our most recently filed Form 10-K and in Part II, Item 1A of our current year Quarterly Reports on Form 10-Q, and in our other filings with the Securities and Exchange Commission. We are under no duty to update any of these statements. You should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or other factors that could cause our current beliefs, expectations, plans and/or assumptions to change. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results.
| BROADWIND, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS) (UNAUDITED) | ||||||||
| September 30, | December 31, | |||||||
| 2025 | 2024 | |||||||
| ASSETS | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash | $ | 1,195 | $ | 7,721 | ||||
| Accounts receivable, net | 14,409 | 13,454 | ||||||
| AMP credit receivable | 4,076 | 2,533 | ||||||
| Contract assets | 587 | 836 | ||||||
| Inventories | 45,759 | 39,950 | ||||||
| Prepaid expenses and other current assets | 2,529 | 2,374 | ||||||
| Total current assets | 68,555 | 66,868 | ||||||
| LONG-TERM ASSETS: | ||||||||
| Property and equipment, net | 39,899 | 45,572 | ||||||
| Operating lease right-of-use assets, net | 9,806 | 13,841 | ||||||
| Intangible assets, net | 906 | 1,403 | ||||||
| Other assets | 482 | 606 | ||||||
| TOTAL ASSETS | $ | 119,648 | $ | 128,290 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Line of credit and current maturities of long-term debt | $ | 4,949 | $ | 1,454 | ||||
| Current portion of finance lease obligations | 2,188 | 2,266 | ||||||
| Current portion of operating lease obligations | 1,687 | 2,115 | ||||||
| Accounts payable | 17,620 | 16,080 | ||||||
| Accrued liabilities | 3,466 | 3,605 | ||||||
| Customer deposits | 4,857 | 18,037 | ||||||
| Total current liabilities | 34,767 | 43,557 | ||||||
| LONG-TERM LIABILITIES: | ||||||||
| Long-term debt, net of current maturities | 5,380 | 7,742 | ||||||
| Long-term finance lease obligations, net of current portion | 2,756 | 3,777 | ||||||
| Long-term operating lease obligations, net of current portion | 9,856 | 13,799 | ||||||
| Other | - | 15 | ||||||
| Total long-term liabilities | 17,992 | 25,333 | ||||||
| COMMITMENTS AND CONTINGENCIES | ||||||||
| STOCKHOLDERS' EQUITY: | ||||||||
| Preferred stock, | ||||||||
| or outstanding | - | - | ||||||
| Common stock, | ||||||||
| and 22,593,589 shares issued as of September 30, 2025 and | ||||||||
| December 31, 2024, respectively | 23 | 23 | ||||||
| Treasury stock, at cost, 273,937 shares as of September 30, 2025 and December 31, 2024, | ||||||||
| respectively | (1,842 | ) | (1,842 | ) | ||||
| Additional paid-in capital | 402,949 | 401,564 | ||||||
| Accumulated deficit | (334,241 | ) | (340,345 | ) | ||||
| Total stockholders' equity | 66,889 | 59,400 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 119,648 | $ | 128,290 | ||||
| BROADWIND, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (IN THOUSANDS, EXCEPT PER SHARE DATA) (UNAUDITED) | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenues | $ | 44,239 | $ | 35,503 | $ | 120,312 | $ | 109,571 | ||||||||
| Cost of sales | 39,719 | 30,306 | 107,491 | 92,171 | ||||||||||||
| Gross profit | 4,520 | 5,197 | 12,821 | 17,400 | ||||||||||||
| OPERATING EXPENSES: | ||||||||||||||||
| Selling, general and administrative | 3,796 | 3,854 | 11,805 | 12,391 | ||||||||||||
| Gain on sale of Manitowoc industrial fabrication operations | (8,155 | ) | - | (8,213 | ) | - | ||||||||||
| Intangible amortization | 165 | 165 | 496 | 496 | ||||||||||||
| Total operating expense, net | (4,194 | ) | 4,019 | 4,088 | 12,887 | |||||||||||
| Operating income | 8,714 | 1,178 | 8,733 | 4,513 | ||||||||||||
| OTHER (EXPENSE) INCOME, net: | ||||||||||||||||
| Interest expense, net | (1,227 | ) | (1,058 | ) | (2,526 | ) | (2,316 | ) | ||||||||
| Other, net | 3 | (5 | ) | (7 | ) | 2 | ||||||||||
| Total other expense, net | (1,224 | ) | (1,063 | ) | (2,533 | ) | (2,314 | ) | ||||||||
| Net income before provision for income taxes | 7,490 | 115 | 6,200 | 2,199 | ||||||||||||
| Provision for income taxes | 27 | 41 | 96 | 133 | ||||||||||||
| NET INCOME | $ | 7,463 | $ | 74 | $ | 6,104 | $ | 2,066 | ||||||||
| NET INCOME PER COMMON SHARE - BASIC: | ||||||||||||||||
| Net income | $ | 0.32 | $ | 0.00 | $ | 0.27 | $ | 0.09 | ||||||||
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - BASIC | 23,102 | 22,029 | 22,748 | 21,803 | ||||||||||||
| NET INCOME PER COMMON SHARE - DILUTED: | ||||||||||||||||
| Net income | $ | 0.32 | $ | 0.00 | $ | 0.27 | $ | 0.09 | ||||||||
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - DILUTED | 23,255 | 22,100 | 22,809 | 21,904 | ||||||||||||
| BROADWIND, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (IN THOUSANDS) (UNAUDITED) | |||||||
| Nine Months Ended September 30, | |||||||
| 2025 | 2024 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
| Net income | $ | 6,104 | $ | 2,066 | |||
| Adjustments to reconcile net cash used in operating activities: | |||||||
| Depreciation and amortization expense | 4,819 | 4,986 | |||||
| Deferred income taxes | (20 | ) | (2 | ) | |||
| Stock-based compensation | 655 | 807 | |||||
| Allowance for credit losses | 5 | 4 | |||||
| Common stock issued under defined contribution 401(k) plan | 986 | 879 | |||||
| Gain on sale of assets | (8,214 | ) | (114 | ) | |||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | (960 | ) | 5,866 | ||||
| AMP credit receivable | (1,543 | ) | 4,152 | ||||
| Contract assets | 248 | (305 | ) | ||||
| Inventories | (6,230 | ) | (2,976 | ) | |||
| Prepaid expenses and other current assets | (286 | ) | 1,224 | ||||
| Accounts payable | 1,480 | (2,932 | ) | ||||
| Accrued liabilities | (139 | ) | (2,476 | ) | |||
| Customer deposits | (13,180 | ) | (12,134 | ) | |||
| Other non-current assets and liabilities | 33 | (31 | ) | ||||
| Net cash used in operating activities | (16,242 | ) | (986 | ) | |||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Purchases of property and equipment | (2,586 | ) | (3,279 | ) | |||
| Net proceeds from sale of Manitowoc industrial fabrication operations | 12,522 | - | |||||
| Net proceeds from disposals of property and equipment | - | 159 | |||||
| Net cash provided by (used in) investing activities | 9,936 | (3,120 | ) | ||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
| Proceeds from line of credit, net | 3,822 | 5,262 | |||||
| Proceeds from long-term debt | - | 1,540 | |||||
| Payments on long-term debt | (2,687 | ) | (1,005 | ) | |||
| Payments on finance leases | (1,099 | ) | (1,276 | ) | |||
| Shares withheld for taxes in connection with issuance of restricted stock | (256 | ) | (130 | ) | |||
| Net cash (used in) provided by financing activities | (220 | ) | 4,391 | ||||
| NET (DECREASE) INCREASE IN CASH | (6,526 | ) | 285 | ||||
| CASH beginning of the period | 7,721 | 1,099 | |||||
| CASH end of the period | $ | 1,195 | $ | 1,384 | |||
| BROADWIND, INC. AND SUBSIDIARIES SELECTED SEGMENT FINANCIAL INFORMATION (IN THOUSANDS) (UNAUDITED) | |||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||
| September 30, | September 30, | ||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||
| ORDERS: | |||||||||||||||||
| Heavy Fabrications | $ | 13,885 | $ | 11,147 | $ | 24,203 | $ | 31,506 | |||||||||
| Gearing | 15,877 | 4,396 | 30,636 | 19,546 | |||||||||||||
| Industrial Solutions | 13,823 | 7,432 | 37,836 | 19,291 | |||||||||||||
| Total orders | $ | 43,585 | $ | 22,975 | $ | 92,675 | $ | 70,343 | |||||||||
| REVENUES: | |||||||||||||||||
| Heavy Fabrications | $ | 29,364 | $ | 20,600 | $ | 79,600 | $ | 62,228 | |||||||||
| Gearing | 7,069 | 9,167 | 20,320 | 27,958 | |||||||||||||
| Industrial Solutions | 7,872 | 5,737 | 20,882 | 20,193 | |||||||||||||
| Corporate and Other | (66 | ) | (1 | ) | (490 | ) | (808 | ) | |||||||||
| Total revenues | $ | 44,239 | $ | 35,503 | $ | 120,312 | $ | 109,571 | |||||||||
| OPERATING INCOME/(LOSS): | |||||||||||||||||
| Heavy Fabrications | $ | 10,283 | $ | 2,230 | $ | 14,235 | $ | 5,832 | |||||||||
| Gearing | (552 | ) | (78 | ) | (2,263 | ) | 429 | ||||||||||
| Industrial Solutions | 445 | 462 | 1,261 | 2,852 | |||||||||||||
| Corporate and Other | (1,462 | ) | (1,436 | ) | (4,500 | ) | (4,600 | ) | |||||||||
| Total operating income (loss) | $ | 8,714 | $ | 1,178 | $ | 8,733 | $ | 4,513 | |||||||||
| BROADWIND, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (IN THOUSANDS) (UNAUDITED) | |||||||||||||||
| Consolidated | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net Income | $ | 7,463 | $ | 74 | $ | 6,104 | $ | 2,066 | |||||||
| Interest Expense | 1,227 | 1,058 | 2,526 | 2,316 | |||||||||||
| Income Tax Provision | 27 | 41 | 96 | 133 | |||||||||||
| Depreciation and Amortization | 1,473 | 1,671 | 4,819 | 4,986 | |||||||||||
| Share-based Compensation and Other Stock Payments | 372 | 522 | 1,469 | 1,685 | |||||||||||
| Gain on Sale of Manitowoc Industrial Fabrication Operations | (8,155 | ) | - | (8,213 | ) | - | |||||||||
| Proxy Contest-Related Expenses | - | - | - | (10 | ) | ||||||||||
| Adjusted EBITDA (Non-GAAP) | $ | 2,407 | $ | 3,366 | $ | 6,801 | $ | 11,176 | |||||||
| Heavy Fabrications Segment | Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net Income | $ | 9,940 | $ | 2,301 | $ | 13,156 | $ | 6,588 | ||||||||
| Interest Expense | 579 | 499 | 933 | 853 | ||||||||||||
| Income Tax (Benefit) Provision | (235 | ) | (571 | ) | 146 | (1,609 | ) | |||||||||
| Depreciation | 799 | 999 | 2,784 | 2,932 | ||||||||||||
| Gain on Sale of Manitowoc Industrial Fabrication Operations | (8,165 | ) | - | (8,306 | ) | - | ||||||||||
| Share-based Compensation and Other Stock Payments | 46 | 188 | 399 | 588 | ||||||||||||
| Adjusted EBITDA (Non-GAAP) | $ | 2,964 | $ | 3,416 | $ | 9,112 | $ | 9,352 | ||||||||
| Gearing Segment | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net (Loss) Income | $ | (609 | ) | $ | (141 | ) | $ | (2,448 | ) | $ | 246 | ||||
| Interest Expense | 56 | 55 | 177 | 162 | |||||||||||
| Income Tax Provision | 1 | 7 | 8 | 21 | |||||||||||
| Depreciation and Amortization | 537 | 534 | 1,636 | 1,627 | |||||||||||
| Share-based Compensation and Other Stock Payments | 111 | 106 | 332 | 337 | |||||||||||
| Adjusted EBITDA (Non-GAAP) | $ | 96 | $ | 561 | $ | (295 | ) | $ | 2,393 | ||||||
| Industrial Solutions Segment | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||
| Net Income | $ | 266 | $ | 286 | $ | 782 | $ | 2,340 | |||
| Interest Expense | 155 | 148 | 404 | 425 | |||||||
| Income Tax Provision | 16 | 25 | 51 | 83 | |||||||
| Depreciation and Amortization | 120 | 109 | 348 | 314 | |||||||
| Share-based Compensation and Other Stock Payments | 62 | 56 | 197 | 182 | |||||||
| Adjusted EBITDA (Non-GAAP) | $ | 619 | $ | 624 | $ | 1,782 | $ | 3,344 | |||
| Corporate and Other | Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net Loss | $ | (2,134 | ) | $ | (2,372 | ) | $ | (5,386 | ) | $ | (7,108 | ) | ||||
| Interest Expense | 437 | 356 | 1,012 | 876 | ||||||||||||
| Income Tax Provision (Benefit) | 245 | 580 | (109 | ) | 1,638 | |||||||||||
| Depreciation and Amortization | 17 | 29 | 51 | 113 | ||||||||||||
| Share-based Compensation and Other Stock Payments | 153 | 172 | 541 | 578 | ||||||||||||
| Gain on Sale of Manitowoc Industrial Fabrication Operations | 10 | - | 93 | - | ||||||||||||
| Proxy Contest-Related Expenses | - | - | - | (10 | ) | |||||||||||
| Adjusted EBITDA (Non-GAAP) | $ | (1,272 | ) | $ | (1,235 | ) | $ | (3,798 | ) | $ | (3,913 | ) | ||||
IR CONTACT Noel Ryan or Brian Hawthorne BWEN@val-adv.com
FAQ
What were Broadwind (BWEN) Q3 2025 revenue and EPS results?
Why did Broadwind (BWEN) report an $8.2M gain in Q3 2025?
How did Broadwind (BWEN) order trends look in Q3 2025 and which markets drove growth?
What guidance did Broadwind (BWEN) set for full-year 2025 on Nov. 13, 2025?
How strong is Broadwind's balance sheet after Q3 2025?
