Broadwind Energy, Inc. (NASDAQ:BWEN) yesterday announced weaker-than-expected preliminary results for the fourth quarter and full-year 2017. The company’s share price went down 9.6% at the close of trading session on Jan 31.
The company is slated to release its fourth-quarter results on Feb 27, 2018 before the market opens.
In the last three months, the company’s shares have declined 8.6%, underperforming 9.1% gain of the industry it belongs to.
Inside the Headlines
In the fourth quarter, Broadwind Energy’s net sales totaled $18 million, falling short of $20 million predicted for the quarter primarily due to a fall in gearing shipments and CNG sales.
Revenues from the Gearing segment were $8.5 million, below the expected range of $9-$9.5 million. Despite a surge of 150% in gearing orders, the shipments suffered due to delay from supply chain partners.
Earnings before interest, taxes, depreciation, amortization, share-based payments and restructuring costs (EBITDA) are likely to fall in the ($3.5)-($3.7) million range, weaker than ($2)-($3) million predicted.
Broadwind Energy anticipates strong backlog and new orders to support the Gearing segment’s volume in the third quarter of 2018. Also, the company anticipates gaining from strengthening tower business. Consolidated revenues are anticipated to be within the $28-$30 million range in the first quarter of 2018, rising to approximately $40 million in the next quarter. Also, the company anticipates reporting positive EBITDA in the second quarter.
The stock’s Zacks Consensus Estimate is pegged at loss of 30 cents for fourth-quarter 2017 and at loss of 7 cents for 2017. Revenues are estimated to be $20.1 million for the fourth quarter and $149.1 million for 2017.
Broadwind Energy, Inc. Price and Consensus
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