Broadwind Reports Q4 2024 Loss Despite 85% Order Growth

Broadwind Energy reported its fourth quarter and full-year 2024 financial results, revealing a net loss of $0.9 million for the fourth quarter, down from a profit of $1.1 million in the same quarter last year. The company experienced decreased customer demand, particularly in the wind and oil/gas markets, leading to a 27% decline in wind-related revenue. However, total orders surged by 85% in the fourth quarter, resulting in a consolidated backlog of $125.5 million, primarily driven by the industrial solutions segment. Despite the challenges, Broadwind remains optimistic about its prospects for 2025, anticipating improved manufacturing optimization and continued order growth in non-wind markets. The firm also highlighted a non-GAAP adjusted EBITDA of $2.1 million for the fourth quarter, compared to $4.4 million in the prior year period. Overall, Broadwind is positioning itself to navigate current market dynamics while focusing on growth opportunities in other sectors.