Broadwind Earnings Call Transcripts
Fiscal Year 2026
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Revenue in core Gearing and Industrial Solutions segments surged year-over-year, offsetting declines from the wind tower exit and heavy fabrication divestitures. Strong order growth and record backlogs support a positive outlook, with liquidity boosted by asset sales and a focus on higher-margin markets.
Fiscal Year 2025
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Revenue grew 12% year-over-year in Q4, led by a 60% surge in Industrial Solutions and record backlog levels. Management reaffirmed 2026 guidance, expects double-digit growth in Gearing, and sees strong multi-year demand in power generation and infrastructure.
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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.
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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.
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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
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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.
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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.
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Profitability was maintained for a sixth straight quarter despite lower revenue, with a 10% EBITDA margin and $0.5 million net income. Wind market softness persisted, but non-wind quoting activity was robust and cost savings were realized. Q3 guidance anticipates lower margins.