Broadwind Q4 revenue beats on Heavy Fabrications unit strength

Overview

• US precision manufacturer reported Q4 revenue up 12% yr/yr, beating analyst expectations

• Company posted Q4 net loss of $0.9 mln, with adjusted EBITDA at $1.9 mln

• Q4 results impacted by raw material supply disruption; operations expected to normalize in Q1 2026

Outlook

• Broadwind sees 2026 revenue between $140 mln and $150 mln

• Company expects 2026 non-GAAP adjusted EBITDA of $8 mln to $10 mln

• Broadwind expects operations to normalize in Q1 2026 after supply disruption

Result Drivers

• SEGMENT DEMAND MIX - Q4 revenue growth driven by increased sales in Heavy Fabrications (wind tower sections, repowering adapters) and Industrial Solutions (natural gas turbine content), partially offset by lower Gearing segment sales

• SUPPLY DISRUPTION - Raw material supply issue tied to an OEM customer's directed-buy program reduced manufacturing throughput and efficiency in Q4; company expects normalization in Q1 2026

• ORDERS GROWTH VARIATION - Orders rose 38% yr/yr in Gearing and Industrial Solutions segments, but declined 20% in Heavy Fabrications

Company press release: ID:nGNX20QfHs

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the renewable energy equipment & services peer group is "buy"

• Wall Street's median 12-month price target for Broadwind Inc is $4.00, about 66% above its March 10 closing price of $2.41

• The stock recently traded at 241 times the next 12-month earnings vs. a P/E of 40 three months ago

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