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Broadwind(BWEN) - 2022 Q4 - Annual Report
2023-03-08 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Indicate by check mark whether the Registrant is a shell company, as defined in Rule 12b-2 of the Exchange Act. Yes ☐ No ☒ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-34278 88-0409160 (I. ...
Broadwind(BWEN) - 2022 Q3 - Earnings Call Transcript
2022-11-08 21:49
Broadwind, Inc. (NASDAQ:BWEN) Q3 2022 Earnings Conference Call November 8, 2022 11:00 AM ET Company Participants Tom Ciccone - Vice President & Principal Accounting Officer Eric Blashford - Chief Executive Officer Conference Call Participants Amit Dayal - H.C. Wainwright Martin Malloy - Johnson Rice Eric Stine - Craig-Hallum Justin Clare - ROTH Capital Partners Operator Greetings and welcome to the Broadwind Third Quarter 2022 Results Conference Call. [Operator Instructions] And as a reminder, this conferen ...
Broadwind(BWEN) - 2022 Q3 - Quarterly Report
2022-11-08 20:44
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-34278 BROADWIND, INC. (Exact name of registrant as specified in its charter) Delaware 88-0409160 (State or other juri ...
Broadwind(BWEN) - 2022 Q2 - Earnings Call Transcript
2022-08-09 20:38
Broadwind, Inc. (NASDAQ:BWEN) Q2 2022 Earnings Conference Call August 9, 2022 11:00 AM ET Company Participants Tom Ciccone - Vice President & Principal Accounting Officer Eric Blashford - Chief Executive Officer Conference Call Participants Justin Clare - ROTH Capital Sameer Joshi - H.C. Wainwright Eric Stine - Craig-Hallum Capital Group Operator Greetings. Welcome to Broadwind's Second Quarter 2022 Results Conference Call. [Operator Instructions] Please note, this conference is being recorded. I will now t ...
Broadwind(BWEN) - 2022 Q2 - Quarterly Report
2022-08-09 17:20
Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, $0.001 par value BWEN The NASDAQ Capital Market Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commiss ...
Broadwind(BWEN) - 2022 Q1 - Earnings Call Transcript
2022-05-06 21:05
Broadwind, Inc. (NASDAQ:BWEN) Q1 2022 Results Conference Call May 6, 2022 11:00 AM ET Company Participants Tom Ciccone - VP and Principal Accounting Officer Eric Blashford - CEO Conference Call Participants Justin Clare - ROTH Capital Partners Aaron Spychalla - Craig-Hallum Amit Dayal - H.C. Wainwright Martin Malloy - Johnson Rice Operator Greetings, and welcome to the Broadwind First Quarter 2022 Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now ...
Broadwind(BWEN) - 2022 Q1 - Earnings Call Presentation
2022-05-06 17:34
D BROADWIND. I WW First Quarter 2022 Results Conference Call Investor Presentation SAFE-HARBOR STATEMENT This release contains "forward looking statements"—that is, statements related to future, not past, events—as defined in Section 21E of the Securities Exchange Act of 1934, as amended, that reflect our current expectations regarding our future growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities, as well as assumptions made by, and information ...
Broadwind(BWEN) - 2022 Q1 - Quarterly Report
2022-05-06 15:47
Financial Performance - Net revenues for Q1 2022 were $41,844, a 28% increase from $32,728 in Q1 2021[105] - The company recorded a net loss of $2,404 or $0.12 per share in Q1 2022, compared to a net loss of $1,210 or $0.07 per share in Q1 2021[113] - Adjusted EBITDA for Q1 2022 was $(8), down from $1,217 in Q1 2021[105] - Free cash flow for Q1 2022 was $(4,487), an improvement from $(9,393) in Q1 2021[105] - Gross profit increased to $2,012 in Q1 2022, up from $282 in Q1 2021, resulting in a gross margin of 4.8%[120] - Operating expenses as a percentage of sales decreased to 9.8% in Q1 2022 from 14.0% in Q1 2021[121] - Net cash used in operating activities decreased to $6,005 in Q1 2022 from $8,437 in Q1 2021[138] - Cash totaled $773 as of March 31, 2022, a decrease of $79 from December 31, 2021[131] - Debt and finance lease obligations totaled $19,988 as of March 31, 2022[131] Orders and Backlog - Total orders in Q1 2022 were $52,693, up 54% from $34,214 in Q1 2021[111] - Backlog at the end of Q1 2022 was $117,133, compared to $94,400 at the end of Q1 2021[105] - Gearing segment orders rose by 42% to $14,061 in Q1 2022 from $9,921 in Q1 2021, primarily due to increased demand from oil & gas and mining customers[125] - Industrial Solutions segment orders increased by 28% to $4,471 in Q1 2022 from $3,496 in Q1 2021[127] - Wind tower orders in the Heavy Fabrications segment increased by 112% compared to the prior year quarter[122] Segment Performance - Gearing segment revenue increased by 98% in Q1 2022, driven by strong order intake from oil and gas and mining customers[112] - Heavy Fabrications segment revenues increased by 20% in Q1 2022, primarily due to wind repowering projects[112] - Heavy Fabrications segment revenues increased by 20% to $27,272 in Q1 2022 from $22,777 in Q1 2021, driven by wind repowering projects[122] - Gearing segment revenues increased by 98% to $10,584 in Q1 2022 from $5,349 in Q1 2021[125] Strategic Focus and Risks - The company emphasizes the impact of the COVID-19 pandemic on its operations and market conditions, highlighting the need for adaptability in its business strategies[145] - The company is focused on diversifying its customer base to reduce dependency on a few significant customers, which is crucial for long-term stability[145] - Future growth is anticipated to be influenced by the state of the wind energy market and the overall economic environment, with a particular focus on regulatory frameworks and tax incentives[145] - The company acknowledges potential risks related to supply chain stability and the operational capacity of significant customers and suppliers due to the pandemic[145] - The company is monitoring the effects of market volatility, including fluctuations in commodity prices, which could impact its financial performance[145] - The potential for increased competition from foreign manufacturers is recognized as a significant factor that could affect market positioning[145] - The company is aware of the implications of changes in U.S. federal government administration on its business operations and market strategies[145] Liquidity and Capital Management - The company anticipates that current cash resources and available credit will meet liquidity needs for at least the next twelve months[134] - The management is assessing the sufficiency of liquidity and alternative funding sources to navigate potential financial challenges[145] - The company is committed to maintaining compliance with debt obligations and effectively managing capital expenditures to ensure cash flow generation[145] - Capital expenditures in Q1 2022 were $492, down from $612 in Q1 2021[105]
Broadwind(BWEN) - 2021 Q4 - Annual Report
2022-03-02 20:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-34278 BROADWIND, INC. (Exact name of Registrant as specified in its charter) 88-0409160 (I.R.S. Employer Identification No.) 3240 S. ...
Broadwind(BWEN) - 2021 Q4 - Earnings Call Transcript
2022-03-02 18:22
Broadwind, Inc. (NASDAQ:BWEN) Q4 2021 Earnings Conference Call March 2, 2022 11:00 AM ET Company Participants Tom Ciccone - VP and Chief Accounting Officer Eric Blashford - CEO Conference Call Participants Justin Clare - ROTH Capital Partners Eric Stine - Craig-Hallum Amit Dayal - H.C. Wainwright Martin Malloy - Johnson Rice Operator Greetings. Welcome to the Broadwind’s Fourth Quarter and Full Year 2021 Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer ...