Core Insights - Broadwind reported a strong third quarter for 2025, with total revenue of $44.2 million, representing a 25% increase year-over-year [4][6] - The company achieved a GAAP net income of $7.5 million, or $0.32 per diluted share, compared to a net income of $0.1 million, or $0.00 per diluted share, in the same quarter of 2024 [5][4] - Total orders surged by nearly 90% year-over-year, driven by significant demand in power generation and renewables markets [2][4] Financial Performance - Total revenue for the third quarter was $44.2 million, up 25% from $35.5 million in Q3 2024 [4][6] - GAAP net income was $7.5 million, compared to $0.1 million in the prior year [5][4] - Non-GAAP Adjusted EBITDA was $2.4 million, excluding an $8.2 million gain from the sale of industrial fabrication operations [5][4] Segment Performance - Heavy Fabrications segment revenue increased by 43% to $29.4 million, driven by demand for wind tower sections [9][6] - Gearing segment sales declined by 23% to $7.1 million due to lower demand from industrial and mining sectors [11][6] - Industrial Solutions segment sales grew by 37% to $7.9 million, primarily due to strong demand for natural gas turbine content [13][6] Orders and Guidance - Total orders for the third quarter reached $43.6 million, a 90% increase from the previous year [4][7] - The company raised its full-year 2025 revenue guidance, reflecting confidence in growth opportunities within power generation and infrastructure markets [2][16] Strategic Actions - The company completed the sale of its industrial fabrication operations in Wisconsin, resulting in a gain of $8.2 million [2][3] - Broadwind has $26.8 million in cash and available liquidity to support its growth strategy [2][7] - The company aims to focus on returns-driven capital allocation, prioritizing investments in new product innovation and strategic acquisitions [2][4]

Core Insights - Broadwind reported a net loss of $1.0 million, or $0.04 per diluted share, in Q2 2025, a decline from a net income of $0.5 million, or $0.02 per diluted share, in Q2 2024 [2][8] - Revenue increased by 7.6% year-over-year to $39.2 million, driven by higher sales in the wind and industrial sectors [3][8] - Total orders rose by 14% year-over-year to $21.0 million, with significant demand from power generation and oil & gas customers [4][8] Financial Performance - Adjusted EBITDA for Q2 2025 was $2.1 million, down from $3.6 million in the same period last year, representing 5.3% of total revenue [2][8] - The Heavy Fabrications segment saw a revenue increase of 27.4% to $25.0 million, primarily due to demand for wind tower sections [10][8] - The Gearing segment experienced a revenue decline of 30.3% to $7.3 million, attributed to lower demand from domestic energy markets [12][8] Operational Highlights - The Industrial Solutions segment's revenue increased by 13.9% to $7.4 million, driven by stronger order intake for natural gas turbine content [14][8] - The consolidated backlog decreased by 31.5% year-over-year to $95.3 million as of June 30, 2025 [4] - The company had total cash and availability under its credit facility of $14.9 million at the end of Q2 2025, with a net debt to trailing twelve-month adjusted EBITDA ratio of 3.0x [5][8] Management Commentary - The CEO highlighted progress in diversifying into higher-value precision manufacturing markets and increased demand for wind-related content [6] - The pending sale of the industrial fabrication operations in Manitowoc, Wisconsin, is expected to close in Q3 2025, adding approximately $13 million in cash and reducing costs by an estimated $8 million annually [6][15] - The company anticipates improved profitability as production normalizes throughout the year [6] Segment Results - Heavy Fabrications segment reported operating income of $1.7 million, compared to $1.6 million in the prior year [10][8] - Gearing segment reported an operating loss of $0.8 million, down from an operating income of $0.5 million in the previous year [12][8] - Industrial Solutions segment reported operating income of $0.5 million, slightly down from $0.6 million in the prior year [14][8]

Core Insights - Broadwind reported a net loss of $0.4 million, or $0.02 per diluted share, in Q1 2025, a decline from a net income of $1.5 million, or $0.07 per diluted share, in Q1 2024 [3] - Total revenue for Q1 2025 was $36.8 million, down 2.1% year-over-year, primarily due to lower sales in mining, oil & gas, and natural gas turbine markets, partially offset by increased sales in the wind market [4][8] - Adjusted EBITDA for Q1 2025 was $2.4 million, representing 6.4% of total revenue, compared to $4.2 million in the prior year [3][8] Financial Performance - Revenue in the Heavy Fabrications segment increased by 14.7% to $25.2 million, driven by demand for wind repowering adapters [11] - The Gearing segment saw a revenue decline of 28.4% to $6.0 million, primarily due to lower demand in mining and oil & gas markets [13] - The Industrial Solutions segment's revenue decreased by 29.3% to $5.6 million, attributed to lower shipments for natural gas turbine content [15] Orders and Backlog - Total orders increased by 5% year-over-year to $30.5 million, with significant demand for repowering adapters and natural gas turbine content [5][8] - The Industrial Solutions segment achieved record levels in both orders and backlog for the second consecutive quarter [5] - The consolidated backlog decreased sequentially to $117.0 million as of March 31, 2025 [5] Management Commentary - The CEO noted that customer activity is strengthening, with orders increasing 5% year-over-year, and emphasized the company's focus on diversification in growing markets like power generation and infrastructure [7] - The company expects steady improvements in order activity across diverse end-markets for the remainder of the year [7] - Investments in machining capabilities and quality certifications are seen as providing a competitive advantage in the power generation market [7] Segment Results - Heavy Fabrications segment reported operating income of $2.2 million, up from $2.0 million in the prior year [11] - Gearing segment reported an operating loss of $0.9 million, compared to an operating income of $0.03 million in the prior year [13] - Industrial Solutions segment reported operating income of $0.3 million, down from $1.8 million in the prior year [15] Financial Guidance - Broadwind reiterated its financial guidance for full-year 2025, projecting total revenue between $140 million and $160 million and adjusted EBITDA between $13 million and $15 million [17]