Broadwind Inc Stock Price, News & Analysis

Broadwind (NASDAQ: BWEN) reported preliminary results for Q2 2021, anticipating revenue of approximately $46.5 million and adjusted EBITDA of $12.7 to $13.0 million. The adjusted EBITDA benefits from $9.2 million in loan forgiveness under the Paycheck Protection Program and $3.6 million from the Employee Retention Tax Credit. However, results were negatively impacted by project delays in wind tower deliveries, expected in the latter half of 2021. Full Q2 results will be released on August 6, 2021.

Broadwind (NASDAQ: BWEN) announced its inclusion in the Russell Microcap Index effective June 28, 2021, following the annual reconstitution of Russell indexes. This membership signifies a substantial milestone for the company, allowing it automatic inclusion in relevant growth and value style indexes. Russell indexes, managed by FTSE Russell, are benchmarks for approximately $10.6 trillion in assets, widely utilized by institutional investors. Broadwind specializes in manufacturing components for clean energy and other sectors.

Broadwind (NASDAQ: BWEN) has completed its at-the-market equity program, successfully raising $9.7 million through the sale of 1.9 million shares of common stock. The program, initiated on March 9, 2021, allowed Broadwind to sell up to $10 million in stock as part of its effective shelf registration statement. The funds raised are expected to support the company’s ongoing operations amidst economic challenges, including the impacts of the COVID-19 pandemic. Broadwind is focused on expanding its manufacturing capabilities in clean tech sectors.

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.