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CICERO, Ill. -On Wednesday, Broadwind (NASDAQ:BWEN), a diversified precision manufacturer, reported fourth quarter 2024 results that showed lower revenue but a narrower loss compared to the prior year.
The company’s stock was unchanged in premarket trading following the earnings release.
The company posted a net loss of $0.04 per share in Q4, beating analyst estimates for a $0.06 per share loss. Revenue fell 28% YoY to $33.6 million, slightly below expectations of $34.45 million.
Broadwind cited lower customer demand across all segments, particularly in wind and oil/gas end-markets. Wind-related revenue in the Heavy Fabrications segment decreased 27% YoY.
However, total orders surged 85% YoY, driven by increased demand across all reporting segments. The Industrial Solutions segment saw record orders and backlog levels in Q4, boosted by natural gas turbine demand.
"While customer project activity remained below prior year levels during the fourth quarter, primarily due to lower activity within our wind and oil/gas markets, new orders increased to the highest level in nearly two years," said CEO Eric Blashford.
For full-year 2025, Broadwind expects revenue of $140-160 million, below the consensus estimate of $178.1 million.
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