CICERO, Ill., Oct. 30, 2025 (GLOBE NEWSWIRE) -- Broadwind (Nasdaq: BWEN, or the “Company”), a diversified precision manufacturer of specialized components and equipment serving global markets, today announced that it will issue third quarter 2025 results before the market opens on Thursday, November 13, 2025. A conference call will be held that same day at 11:00 a.m. ET to review the Company’s financial results, discuss recent events and conduct a question-and-answer session. A webcast of the conference cal ...

Core Points - Broadwind has received $11 million in new tower orders from a leading global wind turbine manufacturer, which will be manufactured at its Abilene, Texas facility and fulfilled in the first quarter of 2026 [1][2] - The company aims to increase utilization across its precision manufacturing system, focusing on throughput optimization and asset efficiency to drive improved operating leverage and profitable growth in core power generation markets [2] Company Overview - Broadwind (Nasdaq: BWEN) is a precision manufacturer of structures, equipment, and components for clean tech and specialized applications, with facilities throughout the U.S. [2]

Core Viewpoint - Broadwind has announced a share repurchase program of up to $3 million, reflecting the company's confidence in its long-term value creation potential [1][3]. Group 1: Share Repurchase Program - The share repurchase program allows the company to buy back shares through open market transactions and privately negotiated purchases, in compliance with applicable securities laws [2]. - The program is designed to provide flexibility in returning capital to shareholders while maintaining a disciplined approach to capital allocation [3]. Group 2: Company Positioning - Following the divestiture of its Wisconsin-based industrial fabrication operations, Broadwind is positioned as a leaner and better-capitalized organization, focusing on high-value precision manufacturing markets [3]. - The timing and amount of share repurchases will depend on market conditions, the company's financial position, debt maturities, and cash flow [3]. Group 3: Company Overview - Broadwind is a precision manufacturer of structures, equipment, and components for clean tech and specialized applications, with facilities across the U.S. [4].

Core Viewpoint - Broadwind has completed the sale of its industrial fabrication operations in Manitowoc, WI, as part of a strategy to streamline operations and focus on higher-margin precision manufacturing verticals [1][2][3] Transaction Overview - The sale, effective September 8, 2025, involved Broadwind Heavy Fabrications, Inc. selling certain assets to Wisconsin Heavy Fabrication, LLC for a total cash consideration of $13.5 million [3] Management Commentary - The CEO of Broadwind stated that the transaction will reduce operating costs by approximately $8 million annually and enhance asset utilization [2] - The company aims to capture growth opportunities in core power generation and infrastructure markets following the consolidation of operations into the Abilene, TX facility [2] Financial Guidance - For the full year 2025, Broadwind anticipates revenues in the range of $145 million to $155 million and adjusted EBITDA in the range of $9 million to $10 million [7]

Core Insights - Pomerantz LLP is investigating claims on behalf of investors of Broadwind, Inc. regarding potential securities fraud or unlawful business practices by the company and its officers [1] - Broadwind reported a GAAP loss per share of $0.04 for Q2 2025, missing consensus estimates by $0.05, and suspended its full-year 2025 financial guidance due to the sale of its industrial fabrication operations [3] - Following the announcement of its financial results, Broadwind's stock price dropped by $0.36, or 14.46%, closing at $2.13 per share on August 12, 2025 [4] Company Financial Performance - Broadwind reported a GAAP loss per share of $0.04 for Q2 2025, which was below the consensus estimate by $0.05 [3] - The company suspended its previously issued full-year 2025 financial guidance due to a definitive agreement to sell its industrial fabrication operations in Manitowoc, Wisconsin [3] Stock Market Reaction - Broadwind's stock price fell by $0.36, representing a 14.46% decrease, closing at $2.13 per share on August 12, 2025, following the financial results announcement [4]

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving Broadwind, Inc. and its officers or directors, following disappointing financial results and a significant stock price drop [1][2][3]. Financial Performance - Broadwind reported a GAAP loss per share of $0.04 for Q2 2025, which was $0.05 below consensus estimates [2]. - The company suspended its full-year 2025 financial guidance due to a definitive agreement to sell its industrial fabrication operations in Manitowoc, Wisconsin [2]. Stock Market Reaction - Following the announcement of the financial results, Broadwind's stock price decreased by $0.36 per share, representing a 14.46% decline, closing at $2.13 per share on August 12, 2025 [3].

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving Broadwind, Inc. and its officers or directors, following disappointing financial results and a significant stock price drop [1][3][4]. Financial Performance - On August 12, 2025, Broadwind reported a GAAP loss per share of $0.04 for Q2 2025, which was $0.05 below consensus estimates [3]. - The company suspended its full-year 2025 financial guidance due to a definitive agreement to sell its industrial fabrication operations in Manitowoc, Wisconsin [3]. Stock Market Reaction - Following the announcement of the financial results, Broadwind's stock price decreased by $0.36, or 14.46%, closing at $2.13 per share on August 12, 2025 [4].

Company Performance - Broadwind Energy, Inc. reported a quarterly loss of $0.04 per share, missing the Zacks Consensus Estimate of $0.02, compared to earnings of $0.02 per share a year ago, representing an earnings surprise of -300.00% [1] - The company posted revenues of $39.24 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 3.20%, and showing an increase from year-ago revenues of $36.45 million [2] - Over the last four quarters, Broadwind Energy has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times as well [2] Stock Performance - Broadwind Energy shares have increased approximately 32.5% since the beginning of the year, outperforming the S&P 500's gain of 8.4% [3] - The current consensus EPS estimate for the coming quarter is $0.08 on revenues of $40.52 million, and for the current fiscal year, it is $0.08 on revenues of $151.29 million [7] Industry Outlook - The Manufacturing - General Industrial industry, to which Broadwind Energy belongs, is currently ranked in the top 13% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry performance can significantly impact stock performance [5][8]

Core Viewpoint - Broadwind, Inc. held its Q2 2025 earnings conference call, where key executives discussed the company's performance and future outlook [1][3]. Group 1: Company Overview - The conference call was led by CEO Eric Blashford and CFO Thomas A. Ciccone, who provided insights into the company's second quarter results [3][5]. - A press release detailing the second quarter results was issued before the market opened on the same day [3]. Group 2: Financial Performance - The management's commentary included forward-looking statements, indicating expectations and beliefs about future performance, which are subject to uncertainties [4]. - The company provided reconciliations of historical non-GAAP financial measures discussed during the call, available in the press release [5].

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company's H1 2025 financial statements show a decline in profitability and liquidity, alongside the reclassification of certain assets as held for sale [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Balance Sheet Summary (in thousands) | Balance Sheet Items | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$130,511** | **$128,290** | | Cash | $1,037 | $7,721 | | Inventories | $51,432 | $39,950 | | Assets held for sale | $3,849 | $0 | | **Total Liabilities** | **$71,558** | **$68,890** | | Line of credit | $19,099 | $1,454 | | Customer deposits | $4,341 | $18,037 | | **Total Stockholders' Equity** | **$58,953** | **$59,400** | - Key changes from Dec 31, 2024 to June 30, 2025 include a significant decrease in cash from **$7.7 million** to **$1.0 million**, a substantial increase in inventories by **$11.5 million**, and a large draw on the line of credit, which increased from **$1.5 million** to **$19.1 million** Customer deposits also saw a major reduction from **$18.0 million** to **$4.3 million**[9](index=9&type=chunk) [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Statement of Operations Summary (in thousands) | Metric | Q2 2025 | Q2 2024 | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | **Revenues** | **$39,235** | **$36,452** | **$76,073** | **$74,068** | | Gross Profit | $3,975 | $5,566 | $8,301 | $12,203 | | Operating (Loss) Income | ($165) | $1,257 | $19 | $3,335 | | **Net (Loss) Income** | **($989)** | **$482** | **($1,359)** | **$1,992** | | **Diluted EPS** | **($0.04)** | **$0.02** | **($0.06)** | **$0.09** | - For the six months ended June 30, the company's performance shifted from a net income of **$2.0 million** in 2024 to a net loss of **$1.4 million** in 2025, despite a slight increase in revenues The decline was primarily driven by a significant increase in the cost of sales, which reduced gross profit by **32%** year-over-year[11](index=11&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash Flow Summary for Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($20,498) | ($3,427) | | Net cash used in investing activities | ($2,115) | ($2,375) | | Net cash provided by financing activities | $15,929 | $5,641 | | **Net Decrease in Cash** | **($6,684)** | **($161)** | - The significant increase in cash used in operating activities in H1 2025 was mainly due to an **$11.5 million** increase in inventories and a **$13.7 million** decrease in customer deposits This was partially offset by a **$17.6 million** net draw from the line of credit under financing activities[16](index=16&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) - The company's revenue from the U.S. wind energy industry constituted **52%** of total revenue in the first six months of 2025, up from **40%** in the same period of 2024[21](index=21&type=chunk) Revenue by Segment (in thousands) | Segment | Q2 2025 | Q2 2024 | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Heavy Fabrications | $24,989 | $19,611 | $50,236 | $41,628 | | Gearing | $7,284 | $10,454 | $13,251 | $18,791 | | Industrial Solutions | $7,363 | $6,463 | $13,010 | $14,456 | | **Consolidated** | **$39,235** | **$36,452** | **$76,073** | **$74,068** | - On June 4, 2025, the company entered into an agreement to sell certain assets from its industrial fabrication operations in Manitowoc, Wisconsin for up to **$13.8 million** in cash The transaction is expected to close in Q3 2025 The related assets are now classified as held for sale[42](index=42&type=chunk) Advanced Manufacturing Production (AMP) Credits Recognized (in thousands) | Period | Gross AMP Credits | | :--- | :--- | | Q2 2025 | $3,132 | | Q2 2024 | $1,848 | | Six Months 2025 | $5,904 | | Six Months 2024 | $3,720 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management's discussion highlights a challenging financial period, impacted by operational inefficiencies and legislative changes, with liquidity managed through credit facilities and asset sales Key Financial Metrics (in thousands) | Metric | Q2 2025 | Q2 2024 | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Net Revenues | $39,235 | $36,452 | $76,073 | $74,068 | | Net (Loss) Income | ($989) | $482 | ($1,359) | $1,992 | | Adjusted EBITDA | $2,085 | $3,642 | $4,453 | $7,811 | | Total Orders | $20,956 | $18,372 | $49,090 | $47,368 | | Backlog | $95,279 | $139,060 | $95,279 | $139,060 | - The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, eliminates AMP credits for components produced after December 31, 2027 This shortens the benefit period and is expected to adversely impact the profitability of the Heavy Fabrications segment[108](index=108&type=chunk) - The company entered into a definitive agreement to sell assets of its industrial fabrication operations in Manitowoc, Wisconsin for up to **$13.8 million** The transaction is expected to close in Q3 2025[112](index=112&type=chunk) [Results of Operations: Three Months Ended June 30, 2025 vs. 2024](index=28&type=section&id=Results%20of%20Operations%20-%20Three%20Months%20Comparison) - Consolidated revenues for Q2 2025 increased by **7.6%** to **$39.2 million**, driven by a **27%** revenue increase in the Heavy Fabrications segment However, gross profit decreased by **28.6%** to **$4.0 million** due to manufacturing inefficiencies and higher fixed costs[114](index=114&type=chunk)[115](index=115&type=chunk)[116](index=116&type=chunk) - The Heavy Fabrications segment saw a **27%** revenue increase, but operating margin declined from **7.9%** to **6.8%** due to inefficiencies with a new, larger wind tower model[119](index=119&type=chunk)[120](index=120&type=chunk) - The Gearing segment experienced a **30%** revenue decline to **$7.3 million**, primarily from reduced shipments to O&G customers, causing operating income to swing from a **$482 thousand** profit to an **$819 thousand** loss[121](index=121&type=chunk)[122](index=122&type=chunk) - The Industrial Solutions segment orders more than tripled to **$13.9 million**, and revenue grew **14%** to **$7.4 million** However, operating income decreased due to a less profitable product mix[123](index=123&type=chunk)[124](index=124&type=chunk) [Results of Operations: Six Months Ended June 30, 2025 vs. 2024](index=30&type=section&id=Results%20of%20Operations%20-%20Six%20Months%20Comparison) - For the first six months of 2025, consolidated revenues increased **2.7%** to **$76.1 million** Despite this, gross profit fell **32%** to **$8.3 million**, and the company recorded a net loss of **$1.4 million** compared to a **$2.0 million** net income in the prior year period[127](index=127&type=chunk)[130](index=130&type=chunk) - Heavy Fabrications segment revenue grew **21%** to **$50.2 million** in H1 2025, driven by a **39%** increase in wind revenue Operating income increased slightly to **$4.0 million** from **$3.6 million**[131](index=131&type=chunk)[132](index=132&type=chunk) - Gearing segment revenue decreased **29%** to **$13.3 million** in H1 2025, leading to an operating loss of **$1.7 million** compared to a **$0.5 million** profit in H1 2024[133](index=133&type=chunk)[134](index=134&type=chunk) - Industrial Solutions segment orders more than doubled to **$24.0 million** in H1 2025 However, revenue decreased **10%** to **$13.0 million**, and operating income fell sharply to **$0.8 million** from **$2.4 million** due to lower sales and a less profitable product mix[135](index=135&type=chunk)[136](index=136&type=chunk) [Liquidity, Financial Position and Capital Resources](index=33&type=section&id=Liquidity%2C%20Financial%20Position%20and%20Capital%20Resources) - As of June 30, 2025, the company had **$1.0 million** in cash, a decrease of **$6.7 million** from year-end 2024 Total debt and finance lease obligations stood at **$31.4 million**[138](index=138&type=chunk) - The company has a **$35 million** senior secured revolving credit facility As of June 30, 2025, **$24.7 million** was outstanding, with an additional **$13.8 million** available for borrowing[138](index=138&type=chunk) - The company utilizes an at-the-market (ATM) equity offering program with approximately **$11.7 million** remaining available for issuance as of June 30, 2025 No shares were issued under this program in H1 2025[142](index=142&type=chunk) Summary of Cash Flows for Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Operating activities | ($20,498) | ($3,427) | | Investing activities | ($2,115) | ($2,375) | | Financing activities | $15,929 | $5,641 | | **Net decrease in cash** | **($6,684)** | **($161)** | [Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is classified as a smaller reporting company and is therefore not required to provide quantitative and qualitative disclosures about market risk - As a smaller reporting company, Broadwind, Inc. is exempt from the requirement to provide information regarding market risk under Item 305I of Regulation S-K[155](index=155&type=chunk) [Controls and Procedures](index=36&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of June 30, 2025, with no material changes to internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the quarter ended June 30, 2025[156](index=156&type=chunk) - No material changes were made to the internal control over financial reporting during the three months ended June 30, 2025[157](index=157&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings that arise in the normal course of business, with management not expecting a material adverse effect on financial outcomes - The company is party to various legal proceedings arising in the normal course of business, but management believes the outcomes will not be materially adverse[82](index=82&type=chunk)[160](index=160&type=chunk) [Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors) The company highlights a significant updated risk factor related to changes in U.S. tax and economic incentives for the wind energy industry, particularly the OBBBA's impact on AMP credits and project eligibility - The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, significantly shortens the eligibility windows for federal tax incentives crucial to the U.S. wind energy industry[162](index=162&type=chunk) - The OBBBA eliminates the Advanced Manufacturing Production (AMP) credits for wind components produced and sold after December 31, 2027, which could materially and adversely affect the company's business in the near term[167](index=167&type=chunk) - Under the OBBBA, wind projects starting construction after July 4, 2026, must be in service by December 31, 2027, to qualify for the Production Tax Credit (PTC) or Investment Tax Credit (ITC) This change may lead to a decrease in new wind projects and lower demand for the company's products[166](index=166&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=38&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - There were no unregistered sales of equity securities or use of proceeds to report for the period[171](index=171&type=chunk) [Other Information](index=38&type=section&id=Item%205.%20Other%20Information) During the three months ended June 30, 2025, none of the company's directors or officers adopted, terminated, or modified a Rule 10b5-1 trading arrangement - No directors or officers adopted, terminated, or modified a Rule 10b5-1 trading arrangement in Q2 2025[174](index=174&type=chunk) [Exhibits](index=38&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed as part of the Quarterly Report on Form 10-Q, including certifications by the CEO and CFO, and agreements related to the asset purchase of the Manitowoc facility - The exhibits filed with this report include the Asset Purchase Agreement and Sublease Agreement related to the sale of the Manitowoc facility, as well as CEO and CFO certifications[175](index=175&type=chunk)[178](index=178&type=chunk)