Company Overview - Broadwind is a diversified precision manufacturer of specialized components and equipment serving global markets [1][3] - The company focuses on clean tech and other specialized applications, with facilities throughout the U.S. [3] Recent Developments - Broadwind announced its largest order to date for precision machined gearing products for the power generation market, with bookings exceeding $2.0 million in Q1 2025 [1][2] - The increasing demand for products supporting electrical infrastructure is driving strong interest in the company's precision manufactured components [2] Strategic Investments - The company has strategically enhanced its machining capabilities and expanded quality certifications, including ITAR, CMMC, and AS9100, to support defense and aerospace applications [2] - The significant order from a leading OEM customer validates the company's strategy and recent investments [3] Market Position - Broadwind is well-positioned to grow in the overall power generation market, which represents a multi-year opportunity across all business units [3]

Company Performance - Broadwind Energy, Inc. (BWEN) ended the latest trading session at $1.43, showing no change from the previous close, while the S&P 500 gained 0.08% [1] - The company's shares experienced a loss of 10.63% over the past month, underperforming the Industrial Products sector's loss of 5.98% and the S&P 500's loss of 7.33% [1] Earnings Expectations - The upcoming earnings report for Broadwind Energy is expected to show an EPS of -$0.03, representing a 142.86% decline compared to the same quarter last year [2] - Quarterly revenue is anticipated to be $33.94 million, down 9.8% from the previous year [2] Full-Year Estimates - Zacks Consensus Estimates project full-year earnings of $0.07 per share and revenue of $152.66 million, indicating year-over-year increases of 40% and 6.65%, respectively [3] Analyst Forecasts - Recent revisions to analyst forecasts for Broadwind Energy are important, as positive estimate revisions can indicate a favorable business outlook [4] Zacks Rank and Valuation - The Zacks Rank system currently rates Broadwind Energy at 3 (Hold), with an 80.3% decline in the Zacks Consensus EPS estimate over the past month [6] - The company has a Forward P/E ratio of 22, which is a discount compared to the industry average Forward P/E of 22.46 [7] Industry Context - Broadwind Energy operates within the Manufacturing - General Industrial industry, which has a Zacks Industry Rank of 162, placing it in the bottom 36% of over 250 industries [7][8]

Core Viewpoint - Broadwind Energy, Inc. (BWEN) has been trending in stock searches, indicating potential interest and volatility in its stock performance due to recent earnings estimate revisions and market conditions [1][2]. Earnings Estimate Revisions - For the current quarter, Broadwind Energy is expected to report a loss of $0.03 per share, reflecting a significant change of -142.9% from the same quarter last year. The consensus estimate has decreased by -150% over the past 30 days [5]. - The consensus earnings estimate for the current fiscal year is $0.07, indicating a year-over-year increase of +40%, but has changed by -80.3% in the last month [5]. - For the next fiscal year, the consensus estimate is $0.18, representing a year-over-year increase of +164.3%, although it has decreased by -47.1% recently [6]. Revenue Growth Forecast - The consensus sales estimate for the current quarter is $33.94 million, showing a year-over-year decline of -9.8%. For the current and next fiscal years, sales estimates are $152.66 million and $168 million, indicating increases of +6.7% and +10.1%, respectively [9]. Last Reported Results and Surprise History - In the last reported quarter, Broadwind Energy generated revenues of $33.57 million, a year-over-year decrease of -28%. The EPS was -$0.04, compared to $0.05 a year ago. The reported revenues exceeded the Zacks Consensus Estimate of $31.54 million by +6.41%, and the EPS surprise was +50% [11]. Valuation - Broadwind Energy is graded A in the Zacks Value Style Score, suggesting it is trading at a discount compared to its peers, indicating potential undervaluation [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, 2024 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 (State of or other jurisdiction of incorporatio ...

Fourth Quarter and Full-Year 2024 Conference Call Presentation March 5, 2025 Broadwind | Investor Presentation 2023 1 SAFE HARBOR STATEMENT This document 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 a ...

Broadwind (BWEN) Q4 2024 Earnings Call March 05, 2025 06:47 PM ET Company Participants Thomas Ciccone - VP & CFOEric Blashford - CEO, President & Director Conference Call Participants Eric Stine - Senior Research AnalystAmit Dayal - Managing Director & Senior Technology AnalystJustin Clare - MD & Research Analyst Operator Greetings and welcome to Broadwind's Fourth Quarter and Full Year twenty twenty four Results Conference Call. At this time, all participants are in a listen only mode. A question and answe ...

Financial Data and Key Metrics Changes - For the full year 2024, the company reported revenue of $143 million and adjusted EBITDA of $13.3 million, with fourth quarter revenue of $34 million and adjusted EBITDA of $2.1 million [6][15] - Fourth quarter consolidated revenues decreased by 28% compared to the prior year quarter, primarily due to reduced activity in the wind and oil and gas markets [15][16] - Adjusted EBITDA margin fell to 6.4% due to lower capacity utilization, partially offset by targeted cost reductions [16] Business Line Data and Key Metrics Changes - Heavy Fabrication segment reported fourth quarter orders of $22.4 million, with revenues of $20.4 million, down 31% year-over-year [17][13] - Gearing segment orders increased, with revenue of $7.6 million, a 31% reduction year-over-year, reflecting softness in oil and gas and steel markets [19][13] - Industrial Solutions segment recorded orders of $8 million in the fourth quarter, with full year orders totaling $27 million, both representing record levels for the segment [20][21] Market Data and Key Metrics Changes - Order rates increased by 85% from the fourth quarter of 2023 to $37 million, with broad-based growth across nearly all end markets [7] - Gearing orders nearly doubled year-over-year, driven by demand from industrial and steel markets [8] - Quoting activity remains elevated across all segments, particularly in heavy fabrications and industrial solutions [10] Company Strategy and Development Direction - The company is reallocating production capacity towards stable, recurring project revenue streams across diverse end markets, with notable growth in mining and hydroelectric sectors [26] - Investments in quality certifications and equipment technology are aimed at improving process capabilities and profitability [11][12] - The company is focused on expanding its product mix into higher-margin adjacent markets [9] Management's Comments on Operating Environment and Future Outlook - Management expects wind tower activity to remain muted through 2026, with potential improvement in 2027 [25][41] - The company is optimistic about order growth in non-wind markets, positioning itself for improved manufacturing optimization [35] - Management highlighted a 55% reduction in recordable incident rates, emphasizing a commitment to safety and productivity [34] Other Important Information - The company ended the fourth quarter with approximately $33 million in total cash and availability on its credit facility, reflecting a significant improvement due to reduced operating working capital [22] - Financial guidance for 2025 anticipates revenue in the range of $140 million to $160 million and adjusted EBITDA between $13 million and $15 million [24] Q&A Session Summary Question: Confirmation on wind market expectations - Management confirmed expectations of muted demand in the wind sector through 2026, with some improvement anticipated in 2027 [41][43] Question: Visibility on GE contract work - Management indicated firm visibility on tower production through 2025, with clear indications on orders [43] Question: Order activity and guidance for 2025 - Management noted that Q1 2025 is expected to be softer due to pull-ins from Q4 2024, with a ratable increase throughout the year [46][47] Question: Impact of tariffs on order activity - Management stated that order activity has not been significantly disrupted by tariff-related news, with increased inquiries for onshoring [70][72] Question: Hydro project offerings - Management explained that hydroelectric offerings are expected to provide a repeating revenue stream as infrastructure upgrades occur [78]

Financial Performance - Broadwind Energy, Inc. reported a quarterly loss of $0.04 per share, better than the Zacks Consensus Estimate of a loss of $0.08, and compared to earnings of $0.05 per share a year ago, indicating an earnings surprise of 50% [1] - The company posted revenues of $33.57 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 6.41%, but down from year-ago revenues of $46.6 million [2] - Over the last four quarters, Broadwind Energy has surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [2] Stock Performance and Outlook - Broadwind Energy shares have declined approximately 20.2% since the beginning of the year, while the S&P 500 has only declined by 1.8% [3] - The current consensus EPS estimate for the coming quarter is -$0.01 on revenues of $37.5 million, and for the current fiscal year, it is $0.33 on revenues of $192.43 million [7] Industry Context - The Manufacturing - General Industrial industry, to which Broadwind Energy belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, which may impact stock performance [8]

Financial Performance - Broadwind reported a net loss of $0.9 million, or $0.04 per share, in Q4 2024, compared to a net income of $1.1 million, or $0.05 per share, in Q4 2023[2]. - Total revenues for the three months ended December 31, 2024, decreased to $33,565 thousand from $46,598 thousand in the same period of 2023, representing a decline of approximately 28%[26]. - The company recorded a net loss of $(914) thousand for the three months ended December 31, 2024, compared to a net income of $1,071 thousand in the same period of 2023[26]. - The total net income for the company for the twelve months ended December 31, 2024, was $6,755 million, compared to $13,862 million for the same period in 2023, a decrease of 51.3%[33]. Revenue and Orders - Total revenue for Q4 2024 was $33.6 million, with adjusted EBITDA of $2.1 million, representing 6.4% of total revenue[7]. - Total orders increased by 85% in Q4 2024 compared to the prior year, with a book-to-bill ratio of 1.1x[4][6]. - Total orders for the three months ended December 31, 2024, increased to $37,470 thousand from $20,207 thousand in the same period of 2023, marking an increase of approximately 85%[30]. Segment Performance - Heavy Fabrications segment sales declined by 30.8% to $20.4 million in Q4 2024, primarily due to a 27% decline in wind-related revenue[10]. - Gearing segment sales decreased by 31.0% to $7.6 million in Q4 2024, driven by softness in demand from oil & gas markets[12]. - Industrial Solutions segment sales fell by 2.8% to $5.9 million in Q4 2024, primarily due to lower demand for aftermarket units[13]. - The Heavy Fabrications segment reported revenues of $20,429 thousand for the three months ended December 31, 2024, down from $29,503 thousand in 2023, a decrease of about 31%[30]. Cash and Debt Management - As of December 31, 2024, Broadwind had total cash and availability of $33 million, with a net debt to trailing twelve-month adjusted EBITDA ratio of 0.6x[5][8]. - The company’s cash balance at the end of the period was $7,721 thousand, a significant increase from $1,099 thousand at the end of 2023[28]. - Total current liabilities decreased to $43,557 thousand as of December 31, 2024, compared to $53,612 thousand in 2023, reflecting a reduction of approximately 19%[24]. Guidance and Future Outlook - For full-year 2025, Broadwind provided revenue guidance of $140 million to $160 million and adjusted EBITDA guidance of $13 million to $15 million[16]. - The company anticipates improvements in order activity across diverse end-markets as it moves through 2025, despite expected softness in oil/gas markets[6]. - Broadwind's strategic focus includes expanding commercial efforts in high-value markets and improving operational efficiency while selectively investing in high-return capabilities[8]. Profitability and Expenses - Gross profit for the twelve months ended December 31, 2024, was $21,189 thousand, down from $32,508 thousand in 2023, indicating a decrease of about 35%[26]. - Adjusted EBITDA for the twelve months ended December 31, 2024, was $13,325 thousand, down from $21,474 thousand in 2023, indicating a decrease of about 38%[32]. - Adjusted EBITDA for the Gearing Segment was $93 million in Q4 2024, significantly lower than $1,315 million in Q4 2023, indicating a decline of 92.9%[33]. - The company incurred proxy contest-related expenses of $1 million in Q4 2024, compared to $1,780 million in the previous year, indicating a significant reduction[33].

Core Insights - Broadwind reported a net loss of $0.9 million, or $0.04 per share, in Q4 2024, a decline from a net income of $1.1 million, or $0.05 per share, in Q4 2023 [2][7] - Total revenue for Q4 2024 was $33.6 million, down from $46.6 million in Q4 2023, while full-year revenue for 2024 was $143.1 million compared to $203.5 million in 2023 [7][27] - The company experienced a significant increase in total orders, which rose by 85% in Q4 2024 compared to the prior year, driven by demand across various segments [4][6] Financial Performance - Adjusted EBITDA for Q4 2024 was $2.1 million, representing 6.4% of total revenue, down from $4.4 million in Q4 2023 [2][7] - For the full year 2024, adjusted EBITDA was $13.3 million, or 9.3% of total revenue, compared to $21.5 million in 2023 [7][27] - The ratio of net debt to trailing twelve-month non-GAAP adjusted EBITDA was 0.6x as of December 31, 2024, indicating a stable financial position [5][7] Segment Performance - Heavy Fabrications segment sales declined by 30.8% to $20.4 million in Q4 2024, primarily due to a 27% decrease in wind-related revenue [10] - Gearing segment sales fell by 31.0% to $7.6 million in Q4 2024, largely driven by reduced demand in the oil and gas markets [12] - Industrial Solutions segment sales decreased by 2.8% to $5.9 million in Q4 2024, attributed to lower demand for aftermarket units [14] Orders and Backlog - Total orders for Q4 2024 reached $37.5 million, up from $20.2 million in the same period last year, with record levels in the Industrial Solutions segment [4][32] - Consolidated backlog increased to $125.5 million as of December 31, 2024, reflecting strong order intake [4][6] Management Outlook - The company anticipates improved operating leverage in 2025 due to increased order intake and cost-saving measures [6][8] - Financial guidance for 2025 projects total revenue between $140 million and $160 million, with adjusted EBITDA expected to range from $13 million to $15 million [16][17]