Broadwind Inc Stock Price, News & Analysis

Broadwind (NASDAQ: BWEN) announced its largest tower order in over three years, totaling $38 million, from a leading global wind turbine manufacturer. This order signals increasing demand for wind installations, especially following the passage of the Inflation Reduction Act, which provides longer-term tax incentives for renewable investments. The towers will be produced at Broadwind's Abilene, Texas facility, with production expected to complete in the first half of 2023. CEO Eric Blashford expressed optimism about growth opportunities in both wind and conventional energy markets.

Broadwind (NASDAQ: BWEN) has secured $11 million in new tower orders from a major global wind turbine manufacturer. Production will occur at the Abilene, Texas facility, with expected completion between Q4 2022 and Q1 2023. The majority of the revenue from this order will be recognized in Q1 2023. CEO Eric Blashford noted that this order will enhance plant utilization, as demand for wind towers is anticipated to recover amid improving visibility regarding the Production Tax Credit.

On August 10, 2022, Broadwind (NASDAQ: BWEN) appointed Thomas A. Ciccone as Vice President, Chief Financial Officer, and Principal Financial Officer effective immediately. Ciccone has been with Broadwind since 2008, previously serving as Principal Accounting Officer and holding various finance roles. His leadership is expected to support the company's growth strategies. Eric Blashford, President and CEO, emphasized Ciccone's critical role in enhancing corporate finance and investor relations as Broadwind aims for long-term value creation.

Broadwind (NASDAQ: BWEN) reported second quarter 2022 financial results, showing total revenue of $50.0 million, up 8% year-over-year. However, the company faced a net loss of ($2.7 million), a stark contrast to a net income of $10.3 million in the previous year. Key segments saw growth: Gearing increased 37% to $10.1 million and Industrial Solutions rose 43% to $5.0 million. Notably, non-wind orders surged 60% to $24 million, contributing to a total backlog of $93.2 million, marking 25% year-over-year growth.

Broadwind (NASDAQ: BWEN) will release its Q2 2022 financial results on August 9, 2022, before the market opens. A conference call is scheduled for the same day at 11:00 A.M. ET to discuss these results and answer questions. Investors can access the call via the Investor Relations section on their website.

Broadwind (NASDAQ: BWEN) announced its first-quarter 2022 results, showcasing a total revenue of $41.8 million, a 28% increase year-over-year. The Heavy Fabrications segment saw revenues rise by 20% to $27.3 million, while the Gearing segment surged 98% to $10.6 million. Despite these gains, the company reported a net loss of ($2.4 million) or ($0.12) per share. Total orders increased 54% to $52.7 million, and backlog rose 24% to $117.1 million. Management anticipates an improvement in financial performance despite ongoing supply chain challenges.

Broadwind (NASDAQ: BWEN) will release its first quarter 2022 financial results on May 6, 2022, before the market opens. A conference call is scheduled for the same day at 11:00 A.M. ET to discuss the results and recent developments. Interested parties can access a live webcast and presentation materials via the company's Investor Relations website. The call will allow for a question-and-answer session, and a replay will be available until May 13, 2022. Broadwind specializes in precision manufacturing for clean tech applications and aims to maximize investment performance for its customers.

Broadwind (NASDAQ: BWEN) reported its 2021 financial results, showing total revenue of $145.6 million, a 27% decrease year-over-year. The fourth quarter results highlighted a 35% decline in revenue to $26.0 million and a net loss of $4.1 million. Despite challenges in the wind tower market, total orders increased 55% to $55.8 million, with a backlog of $106.4 million. The Gearing segment showed recovery with a 70% revenue increase. The company anticipates continued demand in non-wind markets but expects soft wind market conditions in early 2022.

Broadwind (NASDAQ: BWEN) announced $13 million in new tower orders from a leading global wind turbine manufacturer, marking nearly 50% of its full-year 2022 optimal annual production capacity. The company has received a total of $29 million in orders over the past month, primarily to be fulfilled at its Abilene plant in Q3 2022. CEO Eric Blashford noted expectations for stabilization in wind tower demand and improvement in activity levels over the next 24 months. Further updates will be provided during the fourth-quarter earnings call on March 2, 2022.