Broadwind Inc Stock Price, News & Analysis

Broadwind (NASDAQ: BWEN) reported a challenging first quarter of 2021 with total revenue declining by 33% year-over-year to $32.7 million, alongside a net loss of $1.2 million. Wind tower section orders surged 103%, reflecting strong customer demand. The decline in revenue was attributed to adverse weather, a shift in customer order timings, and supply chain disruptions from the pandemic, impacting earnings by approximately $9 million. Total cash availability increased to $21.6 million, and the company remains well-positioned for future growth in the wind energy sector with 60% of its optimal wind tower capacity booked for 2021.

Broadwind (NASDAQ: BWEN) has announced the sale of four Modular Pressure Reducing Systems (PRS), a crucial component for virtual pipelines that provide compressed natural gas (CNG) to areas lacking pipeline infrastructure. This technology is designed to reduce greenhouse gas emissions by utilizing stranded natural gas, thus supporting the clean energy transition. The move positions Broadwind strategically in a growing PRS market, leveraging existing manufacturing expertise to build a complementary business, focusing on lower emissions energy sources.

Broadwind (NASDAQ: BWEN) will announce its first quarter 2021 financial results before the market opens on May 7, 2021. A conference call is scheduled for the same day at 11:00 A.M. ET to discuss these results and other recent developments. Investors can access a live webcast of the call on the Investor Relations section of Broadwind's website, and a replay will be available until May 14, 2021. The release also includes forward-looking statements regarding the company's future performance, impacted by various factors including the ongoing pandemic.

Broadwind (NASDAQ: BWEN) reported its financial results for Q4 and the full year 2020, highlighting a 23% increase in wind tower sections sold and an 11% rise in total revenue to $198.5 million. However, Q4 revenue fell 18% year-over-year to $40.3 million, with a net loss of ($2.0) million. The company noted challenges due to a delayed tower order and pandemic-related disruptions. Total orders for Q4 increased 119% year-over-year to $36 million. Broadwind aims to leverage growth in the wind energy market and diversify its revenue streams.

Broadwind (NASDAQ: BWEN) will release its Q4 and full-year 2020 financial results on February 25, 2021, before market opening. A conference call is scheduled for the same day at 11:00 A.M. ET to discuss these results and conduct a Q&A session. Investors can access the call via webcast on Broadwind’s Investor Relations website. The call will include forward-looking statements regarding financial performance and market conditions, reflecting management’s current expectations amidst ongoing challenges, including the COVID-19 pandemic.

Broadwind (NASDAQ: BWEN) reported preliminary results for Q4 2020, expecting revenue of approximately $40 million and non-GAAP adjusted EBITDA of $0.1 to $0.3 million. The decline was attributed to delays in tower deliveries and lower revenue in the Gearing segment, compounded by pandemic-related supply chain issues. For H1 2021, revenue is anticipated to range from $85 million to $90 million, with adjusted EBITDA of $2 to $3 million. The company secured about half of its wind tower capacity for 2021, including $7 million in new orders in January.

Broadwind (NASDAQ: BWEN) reported its Q3 2020 financial results, showing a total revenue increase of 18% year-over-year to $54.6 million. Despite this, the company incurred a net loss of $1.0 million, slightly worse than the previous year's loss of $0.9 million. The Heavy Fabrications segment thrived with a 28% revenue increase, driven by strong demand for wind towers. However, the Gearing and Industrial Solutions segments faced declines. Cash reserves stood at $21.8 million, with total debt reduced by $4.5 million. Management expects continued growth in revenue and adjusted EBITDA for the full year 2020.

Broadwind (NASDAQ: BWEN) will release its third quarter 2020 results on November 4, 2020, before market opens. A conference call is scheduled for the same day at 11:00 A.M. ET to discuss financial results and recent events. Interested parties can access a live webcast in the Investor Relations section of Broadwind's website.

For the call, domestic participants can dial 877-407-9716 and international participants 201-493-6779. A replay will be available until November 11, 2020.

Broadwind (NASDAQ: BWEN) has announced new wind tower orders valued at approximately $21 million, to be manufactured in Texas with expected delivery in early 2021. However, a significant portion of another order has been postponed from Q3 2020 to Q1 2021. Due to reduced capacity utilization, up to $2.5 million in adjusted EBITDA is expected to shift from the second half of 2020 to 2021, impacting Q3 results. Despite these challenges, Broadwind anticipates a full-year revenue of around $200 million and a double-digit growth in adjusted EBITDA for 2020.