Broadwind posts Q2 net income $1.4M, raises FY 2023 Adj. EBITDA guidance to $17-19M

BROADWIND, INC.

2023-Q2 EPS reported $0.10 revenue$99,716,000

Revenue $50.8M (+2% YoY); GAAP net income $1.4M ($0.07/diluted) vs loss of $2.7M a year ago.
Non-GAAP Adjusted EBITDA $5.4M (+$5.0M YoY); margin improved 9.8ppts to 10.5%.
Total backlog $262.2M (+$169M YoY); net leverage 2.0x as of June 30, 2023.
FY 2023 revenue guidance maintained $205-220M; Adj. EBITDA guidance raised to $17-19M (from $16-18M).
Non-wind revenue up 12% YoY to $25.9M; IRA tax credits contributed to margin expansion.

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 second quarter 2023 results: revenue $50.8 million, net income $1.4 million, or $0.07 per diluted share, EPS $0.07 per diluted share. Guidance reaffirmed.

Period: second quarter 2023
Revenue: $50.8 million
Net income: $1.4 million, or $0.07 per diluted share
EPS: $0.07 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

and solutions serving global markets, today announced results for the second quarter 2023. SECOND QUARTER 2023 RESULTS (As compared to the second quarter 2022) Revenue of $50.8 million, +0.8 million y/y Gross Profit of $8.3 million, +$5.9 million y/y GAAP Net Income of $1.4 million, +4.1 million y/y Non-GAAP Adjusted EBITDA of $5.4 million, +$5.0 million y/y

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Source: SEC EDGAR

accession 0001171843-23-005285

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