Broadwind Q1 rev $48.9M (+17% YoY); net income $0.8M vs loss; raises FY23 EBITDA guidance to $16-18M

BROADWIND, INC.

2023-Q1 EPS reported $0.04 revenue$48,873,000

GAAP net income of $0.8M ($0.04/diluted) vs net loss of ($2.4M) in Q1 2022.
Non-GAAP adjusted EBITDA of $4.1M, up $4.1M YoY; total backlog $287.8M (+$170.7M YoY).
Full-year 2023 guidance raised: revenue $205-220M, adjusted EBITDA $16-18M (prior $14-16M).
Heavy Fabrications revenue +16%, Gearing +13%, Industrial Solutions +33% vs prior year.
Cash & liquidity $12.3M (down from $40.1M Q4 2022) due to working capital investment for tower demand.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BROADWIND, INC. reported the quarter ended March 31, 2023 results: revenue $48.9 million, net income $0.8 million, EPS $0.04 per diluted share.

Period: the quarter ended March 31, 2023
Revenue: $48.9 million
Net income: $0.8 million
EPS: $0.04 per diluted share
Result: reported results

Exact text from the filing

Broadwind reported total revenue of $48.9 million, an increase of 17% when compared to the prior-year period. The Company reported GAAP net income of $0.8 million, or $0.04 per diluted share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BROADWIND, INC. reported full-year 2023 results: revenue $205 million to $220 million.

Period: full-year 2023
Revenue: $205 million to $220 million
Result: guidance update

Exact text from the filing

Broadwind provided updated full-year 2023 financial guidance on April 20, 2023 Total revenue of between $205 million to $220 million Anticipate positive GAAP net income for the full-year 2023 Total non-GAAP adjusted EBITDA of between $16 million to $18 million

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BROADWIND, INC. filing history →

Source: SEC EDGAR

accession 0001171843-23-003176

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