Broadwind Inc Stock Price, News & Analysis

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.