Broadwind holds annual meeting, details vote results

CICERO, IL - Broadwind, Inc. (NASDAQ:BWEN), a manufacturer specializing in nonferrous castings with a market capitalization of approximately $40 million, announced the results of its Annual Meeting of Stockholders that took place on Thursday. According to InvestingPro data, the company’s stock has shown strong momentum with a 16.77% return over the past week. The meeting covered several key items, including the election of directors, executive compensation, an amendment to the company’s Section 382 Rights Agreement, and the appointment of its independent accounting firm for 2025.

The stockholders re-elected six directors, with votes in favor ranging from 6,789,819 to 6,977,302, and votes against from 451,187 to 630,837. The directors will serve for a one-year term or until their successors are elected and qualified.

In a non-binding advisory vote, stockholders approved the compensation of the company’s named executive officers, with 6,774,460 votes in favor, 537,553 against, and 126,848 abstentions. There were also 7,611,182 broker non-votes on this proposal.

The fourth amendment of the company’s Section 382 Rights Agreement was ratified with 6,761,066 votes for, 658,208 against, and 19,587 abstentions, accompanied by 7,611,182 broker non-votes.

Finally, the stockholders ratified the appointment of RSM US LLP as Broadwind’s independent registered public accounting firm for 2025, with a substantial majority of 14,426,716 votes for, 474,989 against, and 148,338 abstentions.

The meeting underscores Broadwind’s ongoing governance activities and shareholder engagement. The company, incorporated in Delaware and headquartered in Cicero, Illinois, continues to focus on its manufacturing operations. InvestingPro analysis reveals that while the company maintains healthy liquidity with a current ratio of 1.51, it operates with a significant debt burden, as evidenced by a debt-to-equity ratio of 0.58. Notably, analysts are optimistic about the company’s prospects, projecting profitability for the current fiscal year.For deeper insights into Broadwind’s financial health and future prospects, investors can access comprehensive analysis and additional ProTips through the detailed Pro Research Report available on InvestingPro, which covers over 1,400 US equities with expert analysis and actionable intelligence.

In other recent news, Broadwind Energy Inc. reported its first-quarter 2025 earnings, revealing an earnings per share (EPS) of -$0.02, which surpassed the forecasted -$0.04. The company’s revenue also exceeded expectations, reaching $36.8 million against a forecast of $34.83 million, despite a 2% decrease year-over-year. Broadwind’s strategic focus on expanding manufacturing capabilities and targeting high-demand markets like wind repowering and natural gas turbines is contributing to its competitive positioning. The company is also expanding its product mix within higher margin markets and continues to invest in equipment technology to improve process capabilities and reduce costs. Orders in the first quarter totaled $30.5 million, marking a 5% increase year-over-year, with strong demand from the wind repowering and power generation markets. Analysts from firms like H.C. Wainwright have noted that supply chain issues impacted revenue in the Industrial Solutions segment, but these are expected to be temporary. Broadwind’s full-year 2025 guidance projects revenues between $140 million and $160 million, with adjusted EBITDA expected to be between $13 million and $15 million.

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