secwatch.observer — SEC 8-K summary
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Issuer:     BROADWIND, INC. (BWEN)
CIK:        0001120370
Form:       8-K
Filed at:   2024-05-14T23:59:59+00:00
Accession:  0001171843-24-002822
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Broadwind Q1 net income rises to $1.5M despite 23% revenue drop; Q2 guidance in line
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- Q1 revenue $37.6M, down >23% YoY; net income $1.5M ($0.07 diluted EPS) vs $0.8M ($0.04) prior year.
- Adjusted EBITDA $4.2M (11.1% margin) vs $4.1M; gross margin up 330 bps YoY.
- Segment: Heavy Fab sales -30.3% to $22.0M; Gearing -30.3% to $8.3M; Industrial Solutions +47.4% to $8.0M.
- Q1 orders up 43.5% sequentially; backlog $159.9M; net leverage 0.6x; liquidity $22.4M.
- Q2 2024 guidance: revenue $37-39M, adjusted EBITDA $2.5-3.5M; cost actions target >$4M annualized savings.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1120370/000117184324002822/0001171843-24-002822-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1120370/000117184324002822/f8k_051324.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-002822

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