Broadwind Energy, Inc. Reports Preliminary Revenue for the Fourth Quarter of 2017; Revises Earnings Guidance for the Quarter and Year Ended December 31, 2017; Provides Consolidated Revenue Guidance for the First Quarter of 2018
January 31, 2018 at 12:00 pm
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Broadwind Energy, Inc. reported preliminary revenue for the fourth quarter of 2017. Based on preliminary results, fourth quarter 2017 revenue totaled approximately $18 million, $2 million below expectations due to weak CNG sales and lower gearing shipments caused by delayed material receipts primarily due to a tightening of the oil and gas supply chain.
The company revised financial guidance for the fourth quarter and year ended December 31, 2017. The company now expects the consolidated fourth quarter 2017 EBITDA loss to be approximately $3.5 million to $3.7 million, against guidance of a $2 million to $3 million loss provided in October.
As the tower segment recovers, the company expects consolidated revenues to rebound to $28 million to $30 million in the first quarter of 2018, and then to rise to about $40 million in the second quarter with a return to positive EBITDA.
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 Energy, Inc. Reports Preliminary Revenue for the Fourth Quarter of 2017; Revises Earnings Guidance for the Quarter and Year Ended December 31, 2017; Provides Consolidated Revenue Guidance for the First Quarter of 2018
BROADWIND, INC. 
