Broadwind Earnings Call Transcripts
Fiscal Year 2026
-
MCM was acquired for $18 million cash plus up to $7 million in milestone-based consideration, adding a profitable T&D platform. Management expects adjusted EBITDA margin and EPS accretion from Q4 2026 amid strong grid demand.
-
Q2 saw a 67% year-over-year revenue increase to $24.3M, with record orders and backlog in both Gearing and Industrial Solutions. The business completed its wind pivot, improved profitability, and is positioned for sustained growth in power generation and infrastructure.
-
Revenue in core Gearing and Industrial Solutions segments surged over 40% and 60% year-over-year, offsetting declines in Heavy Fabrication as the wind tower business is exited. Record backlogs and strong order momentum support a positive outlook, with liquidity boosted by asset sales.
Fiscal Year 2025
-
Q4 revenue rose 12% year-over-year to $37.7M, led by a 60% surge in Industrial Solutions, while adjusted EBITDA declined due to supply chain inefficiencies. 2026 guidance was reaffirmed, with strong order backlogs and double-digit growth expected in Gearing and Industrial Solutions.
-
Q3 revenue rose 25% year-over-year to $44.2M, with orders up 90% and record backlog in industrial solutions. Manitowoc sale strengthened liquidity and balance sheet, while 2025 revenue guidance was raised to $155–$160M. Margins expected to improve as operational headwinds subside.
-
Q2 revenue rose 8% year-over-year to $39.2 million, with record orders and backlog in industrial solutions and a 14% increase in total orders. The pending Manitowoc sale will add $13 million in cash and reduce costs, while guidance is suspended pending the transaction.
-
Q1 2025 saw sequential growth in revenue and gross margin, driven by strong wind repowering demand and disciplined operations. Orders and backlog reached record levels in key segments, and full-year guidance was reiterated, with supply chain and tariff risks being actively managed.
Fiscal Year 2024
-
Full year 2024 saw strong operational execution with $143M revenue and $13.3M adjusted EBITDA, despite wind and oil & gas softness. Q4 orders surged 85% YoY, and 2025 guidance anticipates $140–160M revenue and $13–15M adjusted EBITDA, with growth led by Industrial Solutions.
-
Delivered seventh straight profitable quarter with strong order growth and near 10% EBITDA margin, despite lower revenue from wind and oil/gas sectors. Outlook for 2025–2026 is positive, with growth expected in power generation, material handling, and industrial markets.
-
Profitability was maintained for a sixth straight quarter despite lower revenue, driven by a favorable sales mix and cost reductions. Wind tower demand remains soft, but quoting activity is robust across segments, with growth expected in 2025–2026.