Broadwind Q3 revenue $44.8M (+11% y/y); net loss narrows to $1.8M; orders surge 99%

BROADWIND, INC.

2022-Q3 EPS reported -$0.34 revenue$136,699,000

Revenue $44.8M (+11% YoY); net loss ($1.8M) or ($0.09)/share vs ($2.1M) loss in Q3 2021.
Non-GAAP adjusted EBITDA $1.9M, up 374% from $0.4M a year ago; Q4 guidance $0.2M-$0.5M.
Orders $84.5M (+99% YoY) and backlog $132.2M (+73% YoY) at multi-quarter highs.
Heavy Fabrications segment rev $30.6M (+7%); Gearing rev $10.2M (+35%), operating income $0.6M.
CEO cites IRA-driven wind recovery and broad industrial demand as tailwinds going into 2023.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BROADWIND, INC. reported third quarter 2022 results: revenue $44.8 million, net income ($1.8) million, EPS ($0.09) per basic share. Guidance initiated.

Period: third quarter 2022
Revenue: $44.8 million
Net income: ($1.8) million
EPS: ($0.09) per basic share
Guidance: initiated
Result: reported results

Exact text from the filing

For the three months ended September 30, 2022, Broadwind reported total revenue of $44.8 million, an increase of 11% when compared to the prior year period. The Company reported a net loss of ($1.8) million, or ($0.09) per basic share in the third quarter 2022, compared to a net loss ($2.1) million, or ($0.11) per diluted share, in the third quarter 2021.

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Source: SEC EDGAR

accession 0001171843-22-007204

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