Broadwind Inc (BWEN) News

BWEN 10Q due March 5

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Broadwind Announces Transformational Two-Year, $175 Million Wind Tower Order With Global Wind Turbine Manufacturer
January 10 2023 - 06:00PM
GlobeNewswire Inc.
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Broadwind (NASDAQ: BWEN, or the “Company”), a diversified precision manufacturer of specialized components and solutions serving global markets, today announced receipt of approximately $175 million in new tower orders from a leading global wind turbine manufacturer.
Fulfillment of the new order will occur during the full year 2023 and conclude by the end 2024. Ordered tower sections will be produced at both the Company’s Abilene and Manitowoc facilities.

NEW ORDER HIGHLIGHTS

Transformational order reflects continued execution of business development strategy. During the last three years, Broadwind has pursued an aggressive development strategy designed to both increase its share-of-wallet with existing customers, while expanding into complementary adjacent markets – and new customer relationships. This expansion further leverages its proven precision manufacturing expertise, as evidenced by its continuing customer and market diversification during this period. This order, which is the largest-ever received from this OEM customer, reflects the successful expansion of this customer relationship that is expected to scale, over time.
Order secures significant production capacity over multi-year period. The two-year order secures approximately 50% of optimal tower production capacity across Broadwind’s facilities in 2023 and 2024. This order is anticipated to further optimize plant utilization over the near-to-medium term, and facilitate improved economies of scale, liquidity and financial performance, versus the prior-year period.
Order carries favorable economics, including the benefit of federal tax credit. The Inflation Reduction Act (IRA) passed into law in 2022 provides critical industries, including those supporting the energy transition, with tax credits designed to accelerate a generational shift in the energy production mix from fossil fuels toward renewable energy, including wind. Included within section 45x of the IRA is a provision for a new advanced manufacturing tax credit for which this order qualifies.
MANAGEMENT COMMENTARY

“This transformational new tower order is an historic accomplishment for our entire team, one that further establishes Broadwind as the leading precision manufacturer of heavy fabrications advancing the global energy transition,” stated Eric Blashford, President and CEO of Broadwind. “This important win will support a balanced production schedule over the next two years, materially increase system-wide facility utilization, and drive improved economies of scale across our organization.”

“Importantly, this new order will more than double our current total backlog, when compared to the backlog level reported at the end of the third quarter 2022,” continued Blashford. “Further, when adding in the benefit of the advanced manufacturing credit afforded by the IRA, this order will carry a favorable margin profile, one supportive of our strategic focus on profitable growth.”

“We anticipate that our tower order book will continue to fill throughout 2023, as raw materials prices and supply chain conditions further normalize, and development activity gradually improves,” concluded Blashford. “Importantly, while installation activity within the domestic onshore wind market has not yet returned to 2020 levels, orders such as this will position Broadwind to outpace growth within the broader market, particularly as we further consolidate share across leading global customers who value our domestic manufacturing base, skilled labor force and commitment to quality. We look forward to building on the momentum evident across our business, while continuing to drive long-term value creation for our shareholders in the year ahead.”

ABOUT BROADWIND

Broadwind (NASDAQ: BWEN) is a precision manufacturer of structures, equipment and components for clean tech and other specialized applications. With facilities throughout the U.S., our talented team is committed to helping customers maximize performance of their investments—quicker, easier and smarter. Find out more at www.bwen.com

FORWARD-LOOKING STATEMENTS

$BWEN has $48.02M DEBT

WyoLyo: Broadwind continues to grow its client base. It just signed a contract with Kubota.

Bwen just landed a 37 million contract and the stock goes down????

The current consensus among 3 polled investment analysts is to hold stock in Broadwind Inc. This rating has held steady since March, when it was downgraded from a buy rating.

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https://www.moomoo.com/news/post/8717619/broadwind-bags----m-in-new-tower-orders?level=1&data_ticket=1647345101148227

$BWEN https://www.marketwatch.com/story/broadwind-shares-rise-11-after-13-million-in-new-tower-orders-271646160377

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Aroon headed uP, Accumulation uP, and money floW in the GreeN… $1.74 BWEN… ...Broadwind Announces $16 Million in New Tower Orders... GidDy up BWEN...
https://investors.bwen.com/investor-news/investor-news-details/2022/Broadwind-Announces-16-Million-in-New-Tower-Orders/default.aspx
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Yes... GidDy uP BWEN...

Nice news today

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BWEN… $1.85… Daily psar fliPPed to the Bullish buY side and closed above its 20dma to boot… Large Volume block yesterdaY and Money flow back in the Green here… GidDy uP BWEN...

With all Biden's "Green New Deal" initiatives, this should be a hot stock. Also, at this price should be a great take over candidate. The only thing it lacks is aggressive management

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BWEN… $2.67… At the bottom bollie, with money flow approaching GreeN territory again with accumulation uP and the Williams is at -93 to boot… GidDy uP BWEN...
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https://www.engadget.com/wind-solar-energy-needs-study-172901659.html

Shares of several companies in the broader industrial sector are trading higher after the U.S. House of Representatives passed a $1.2 trillion infrastructure bill. $BWEN

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Why giant turbines are pushing the limits of possibility
https://www.bbc.com/news/business-58704792 $BWEN

New standard to help Europe increase integration of offshore wind capacity

https://www.powerengineeringint.com/renewables/new-standard-to-help-europe-increase-integration-of-offshore-wind-capacity/

Virginia unveils $200 million wind facility
https://www.washingtonpost.com/local/virginia-politics/200-million-wind-turbine-facility-planned-for-virginia/2021/10/25/b8ce4714-359a-11ec-8be3-e14aaacfa8ac_story.html

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https://www.cnbc.com/2021/11/04/gap-between-renewable-energy-and-power-demand-oil-gas-coal.html $BWEN

European wind energy industry reinforces sustainability commitments
https://www.evwind.es/2021/11/04/european-wind-energy-industry-reinforces-sustainability-commitments/83104 $BWEN

What the U.S. can learn from the U.K. about wind power
As the United States looks to pour billions into offshore wind development, the COP26 host nation has some lessons to share. https://www.nbcnews.com/news/world/us-can-learn-uk-wind-power-rcna2998 $BWEN

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What the windiest nation in Europe can teach the U.S about wind power
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$BWEN Top Institutional Holders
Holder Shares Date Reported % Out Value
Invesco Ltd. 2,097,564 Jun 29, 2021 10.82% 9,501,964
Grace & White Inc /ny 1,494,119 Sep 29, 2021 7.71% 3,869,768
Vanguard Group, Inc. (The) 728,069 Jun 29, 2021 3.76% 3,298,152
Dimensional Fund Advisors LP 463,779 Jun 29, 2021 2.39% 2,100,918
Blackrock Inc. 359,571 Jun 29, 2021 1.85% 1,628,856
Invenomic Capital Management, LP 346,687 Jun 29, 2021 1.79% 1,570,492
Adage Capital Partners GP L.L.C. 250,000 Jun 29, 2021 1.29% 1,132,500
Bridgeway Capital Management, Inc. 205,600 Jun 29, 2021 1.06% 931,368
Hussman Strategic Advisors, Inc. 170,500 Sep 29, 2021 0.88% 441,595
Victory Capital Management Inc. 157,100 Sep 29, 2021 0.81% 406,889

Wind Energy & Solar $BWEN 12-month price forecasts for Broadwind Inc have a median target of 7.00, with a high estimate of 10.00 and a low estimate of 6.00. The median estimate represents a +123.64% increase from the last price of 3.13.



https://money.cnn.com/quote/forecast/forecast.html?symb=bwen

Wind Energy stock $BWEN was $250+ per share stock

$BWEN Top Mutual Fund Holders
Holder Shares Date Reported % Out Value
Vanguard Total Stock Market Index Fund 453,193 Jun 29, 2021 2.34% 2,052,964
Northern Lights Fd Tr II-Invenomic Fd 330,976 Jul 30, 2021 1.71% 1,257,708
Vanguard Extended Market Index Fund 243,621 Jun 29, 2021 1.26% 1,103,603
Hussman Investment Trust-Hussman Strategic Growth Fund 210,000 Jun 29, 2021 1.08% 951,300
Bridgeway Funds Inc-Ultra Small Company Fund 205,600 Jun 29, 2021 1.06% 931,368
DFA U.S. Small Cap Value Series 132,884 Jul 30, 2021 0.69% 504,959
Fidelity Extended Market Index Fund 85,411 Aug 30, 2021 0.44% 273,315
Victory THB US Small Opportunities Fund 84,980 Jul 30, 2021 0.44% 322,924
DFA U.S. Targeted Value Portfolio 66,870 Jul 30, 2021 0.34% 254,106
iShares Micro Cap ETF 42,283 Sep 29, 2021 0.22% 109,512

Wind Energy $BWEN The current consensus among 4 polled investment analysts is to buy stock in Broadwind Inc. http://markets.money.cnn.com/research/quote/forecasts.asp?symb=BWEN

Wind Energy $BWEN 12-month price forecasts for Broadwind Inc have a median target of 7.00, with a high estimate of 10.00 and a low estimate of 6.00. The median estimate represents a +125.81% increase from the last price of 3.10.
http://markets.money.cnn.com/research/quote/forecasts.asp?symb=BWEN

$BWEN Top Institutional Holders
Holder Shares Date Reported % Out Value
Invesco Ltd. 2,097,564 Jun 29, 2021 10.82% 9,501,964
Grace & White Inc /ny 1,494,119 Sep 29, 2021 7.71% 3,869,768
Vanguard Group, Inc. (The) 728,069 Jun 29, 2021 3.76% 3,298,152
Dimensional Fund Advisors LP 463,779 Jun 29, 2021 2.39% 2,100,918
Blackrock Inc. 359,571 Jun 29, 2021 1.85% 1,628,856
Invenomic Capital Management, LP 346,687 Jun 29, 2021 1.79% 1,570,492
Adage Capital Partners GP L.L.C. 250,000 Jun 29, 2021 1.29% 1,132,500
Bridgeway Capital Management, Inc. 205,600 Jun 29, 2021 1.06% 931,368
Hussman Strategic Advisors, Inc. 170,500 Sep 29, 2021 0.88% 441,595
Victory Capital Management Inc. 157,100 Jun 29, 2021 0.81% 711,663
https://finance.yahoo.com/quote/BWEN/holders?p=BWEN