Broadwind reports Q4 revenue $46.6M (+16% y/y), net income $1.1M; FY 2023 record adjusted EBITDA $21.5M

BROADWIND, INC.

Q4 2023 revenue $46.6M (+16.3% y/y); net income $1.1M ($0.05 diluted EPS) vs net loss $2.9M in Q4 2022.
FY 2023 revenue $203.5M (+15.1% y/y); net income $7.6M ($0.36 diluted EPS); record adjusted EBITDA $21.5M (+$19.0M y/y).
Heavy Fabrications tower sections sold +37.5% y/y to 132; segment adjusted EBITDA $3.7M vs $0.3M in prior year.
Q1 2024 guidance: revenue $34-38M, adjusted EBITDA $1-2M, reflecting lower wind tower demand expected to be H2-weighted.
Net leverage 0.8x; available liquidity $22.8M as of Dec 31, 2023; discretionary capex eliminated for 2024.

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