Broadwind(US:BWEN)2021-05-10 16:46Financial Performance - Q1 2021 - Total revenue decreased by 33% year-over-year to $32.7 million[3, 6, 21] - Adjusted EBITDA was $1.2 million, which included a $3.4 million employee retention tax credit[3, 5, 6] - Net loss per share was $(0.07)[6, 21] Segment Performance - Heavy Fabrications - Heavy Fabrications segment revenue declined by $15.6 million year-over-year[7] - Wind tower orders increased by 103% year-over-year to $14.1 million[7] - Total wind tower sections sold declined more than 45% year-over-year[3] - Approximately 75 tower sections were pushed beyond 1Q21 due to non-recurring factors[10] Segment Performance - Gearing - Gearing segment revenue decreased from $6.2 million to $5.3 million[11] - Gearing orders in 1Q21 equaled combined segment orders in the entire second half of 2020[11] - Book-to-bill near 2.0x, driving a $4.7 million sequential improvement in backlog[11] Segment Performance - Industrial Solutions - Industrial Solutions segment revenue increased by 14% year-over-year to $4.6 million[3, 12] - Industrial Solutions segment orders decreased year-over-year to $3.5 million[13] Outlook - Anticipate Q/Q Revenue Growth, 2Q21 total revenue expected to be in a range of $45 million to $50 million[3] - Anticipate Q/Q Adj EBITDA Growth, 2Q21 total Adjusted EBITDA expected to be $4.5 million to $5.0 million, including ~$3.0 million in ERC cash benefits[3]