Broadwind(BWEN)2025-03-05 12:00Financial Performance - Broadwind reported a net loss of 0.04 per share, in Q4 2024, compared to a net income of 0.05 per share, in Q4 2023[2]. - Total revenues for the three months ended December 31, 2024, decreased to 46,598 thousand in the same period of 2023, representing a decline of approximately 28%[26]. - The company recorded a net loss of 1,071 thousand in the same period of 2023[26]. - The total net income for the company for the twelve months ended December 31, 2024, was 13,862 million for the same period in 2023, a decrease of 51.3%[33]. Revenue and Orders - Total revenue for Q4 2024 was 2.1 million, representing 6.4% of total revenue[7]. - Total orders increased by 85% in Q4 2024 compared to the prior year, with a book-to-bill ratio of 1.1x[4][6]. - Total orders for the three months ended December 31, 2024, increased to 20,207 thousand in the same period of 2023, marking an increase of approximately 85%[30]. Segment Performance - Heavy Fabrications segment sales declined by 30.8% to 7.6 million in Q4 2024, driven by softness in demand from oil & gas markets[12]. - Industrial Solutions segment sales fell by 2.8% to 20,429 thousand for the three months ended December 31, 2024, down from 33 million, with a net debt to trailing twelve-month adjusted EBITDA ratio of 0.6x[5][8]. - The company’s cash balance at the end of the period was 1,099 thousand at the end of 2023[28]. - Total current liabilities decreased to 53,612 thousand in 2023, reflecting a reduction of approximately 19%[24]. Guidance and Future Outlook - For full-year 2025, Broadwind provided revenue guidance of 160 million and adjusted EBITDA guidance of 15 million[16]. - The company anticipates improvements in order activity across diverse end-markets as it moves through 2025, despite expected softness in oil/gas markets[6]. - Broadwind's strategic focus includes expanding commercial efforts in high-value markets and improving operational efficiency while selectively investing in high-return capabilities[8]. Profitability and Expenses - Gross profit for the twelve months ended December 31, 2024, was 32,508 thousand in 2023, indicating a decrease of about 35%[26]. - Adjusted EBITDA for the twelve months ended December 31, 2024, was 21,474 thousand in 2023, indicating a decrease of about 38%[32]. - Adjusted EBITDA for the Gearing Segment was 1,315 million in Q4 2023, indicating a decline of 92.9%[33]. - The company incurred proxy contest-related expenses of 1,780 million in the previous year, indicating a significant reduction[33].