Broadwind, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 07:00 am EST
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Broadwind, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 57.16 million compared to USD 44.84 million a year ago. Net income was USD 4.39 million compared to net loss of USD 1.77 million a year ago. Basic earnings per share from continuing operations was USD 0.21 compared to basic loss per share from continuing operations of USD 0.09 a year ago. Diluted earnings per share from continuing operations was USD 0.2 compared to diluted loss per share from continuing operations of USD 0.09 a year ago.
For the nine months, sales was USD 156.88 million compared to USD 136.7 million a year ago. Net income was USD 6.58 million compared to net loss of USD 6.88 million a year ago. Basic earnings per share from continuing operations was USD 0.31 compared to basic loss per share from continuing operations of USD 0.34 a year ago. Diluted earnings per share from continuing operations was USD 0.31 compared to diluted loss per share from continuing operations of USD 0.34 a year ago.
Broadwind Inc. is a precision manufacturer of structures, equipment and components for clean tech and other specialized applications. The Company operates through three segments: Heavy Fabrications, Gearing, and Industrial Solutions. The Heavy Fabrications segment provides large, complex and precision fabrications to customers in a broad range of industrial markets. The Gearing segment provides gearing and gearboxes to a set of customers in diverse markets, including onshore and offshore oil and gas, fracking and drilling, surface and underground mining, wind energy, steel, material handling, infrastructure, marine and other industrial markets. It also provides gearbox repair services. Industrial Solutions provides supply chain solutions, light fabrication, inventory management, kitting, and assembly services, primarily serving the combined cycle natural gas turbine market. It also provides packaging solutions and fabricates panels and sub-assemblies.
BROADWIND, INC. 
