Broadwind Energy, Inc. Revises Earnings Guidance for the Third Quarter Ending September 30, 2015
Sep 18 15
Broadwind Energy, Inc. revised earnings guidance for the third quarter ending September 30, 2015. For the quarter, revenue and loss per share are expected to be below the company’s previous estimates as a result of production difficulties and supplier quality issues in the Manitowoc tower facility. Based on preliminary financial results, the company now expects consolidated third-quarter revenue to be in the range of $52 million to $53 million. The approximately $11 million shortfall from the previous estimate is due primarily to wind tower production difficulties in its Manitowoc, WI facility related to paint production challenges and steel supplier quality issues. The company now expects consolidated third-quarter operating loss to be within the range of $3 million to $4 million, and consolidated net loss per share of $0.20 to 0.27.
Broadwind Energy, Inc. Provides Capital Spending Guidance for 2015 and Earnings Guidance for the Third Quarter of 2015
Jul 30 15
Broadwind Energy, Inc. provided capital spending guidance for 2015 and earnings guidance for the third quarter of 2015. The company now anticipates full year capital spending to be about $4 million, less than half the full year depreciation charge of $9 million.
For the third quarter of 2015, the company is forecasting revenue in the $63 million to $65 million range; gross margin continuing in the 10% to 11% range and operating profit of $1 million to $2 million. This should provide EPS of $0.07 to $0.12. EBITDA should more than double from last year and be in the $4 million to $6 million range.
Broadwind Energy, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Jul 30 15
Broadwind Energy, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenues of $65,225,000 against $68,381,000 a year ago. Operating income was $1,861,000 against $2,101,000 a year ago. Net income was $1,615,000 against $1,860,000 a year ago. Diluted earnings per share were $0.11 against $0.12 a year ago. Total Adjusted EBITDA (Non-GAAP) was $4,686,000 against $5,910,000 a year ago.
For the six months, the company reported revenues of $116,276,000 against $127,181,000 a year ago. Operating loss was $3,117,000 against operating income of $1,106,000 a year ago. Net loss was $3,400,000 against net income of $817,000 a year ago. Diluted loss per share were $0.23 against diluted earnings per share was $0.05 a year ago. Net cash used in operating activities was $23,131,000 against $10,546,000 a year ago. Purchases of available for sale securities was $1,884,000 against $2,563,000 a year ago. Purchases of property and equipment was $1,604,000 against $4,542,000 a year ago. Total Adjusted EBITDA (Non-GAAP) was $2,755,000 against $8,717,000 a year ago. Net debt rose $4,000,000 to $8,400,000 due to a reduction in customer deposits and increased supplier payments, which more than offset the benefit of $2.7 million in reduced inventory.
Broadwind Energy, Inc. to Report Q2, 2015 Results on Jul 30, 2015
Jul 16 15
Broadwind Energy, Inc. announced that they will report Q2, 2015 results at 10:00 AM, Central Standard Time on Jul 30, 2015