BROADWIND Reports Second Quarter FY2023 Earnings Results on August 14 2023
August 17, 2023
🌥️Earnings Overview
On August 14 2023, BROADWIND ($NASDAQ:BWEN) reported its financial results for the second quarter of FY2023, which concluded on June 30 2023. The total revenue for the quarter amounted to USD 50.8 million, a 1.7% rise compared to the same period in the previous year. Net income for the quarter was USD 1.4 million, a remarkable 152.6% increase from the year before.
Stock Price
The announcement caused BROADWIND stock to open at $3.7 and close at the same price, rising by 10.7% from the previous closing price of $3.4. The surge in share prices was likely due to a positive outlook for BROADWIND’s future prospects, as investors reacted positively to the news. Despite the global economic downturn due to the pandemic, BROADWIND’s strong financial performance allowed them to weather the storm and make a comeback in the market.
This is an encouraging sign for investors, as it shows that BROADWIND is still able to perform well despite the difficult circumstances. Going forward, investors will be keeping a close eye on BROADWIND’s financial performance and any potential developments, as they look to maximize their returns in the company. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Broadwind. BROADWIND_Reports_Second_Quarter_FY2023_Earnings_Results_on_August_14_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 184.62 | -2.44 | -1.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Broadwind. BROADWIND_Reports_Second_Quarter_FY2023_Earnings_Results_on_August_14_2023″>More…
| Operations | Investing | Financing |
| 7.46 | -5.36 | -0.05 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Broadwind. BROADWIND_Reports_Second_Quarter_FY2023_Earnings_Results_on_August_14_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 156.97 | 107.57 | 2.32 |
Key Ratios Snapshot
Some of the financial key ratios for Broadwind are shown below. BROADWIND_Reports_Second_Quarter_FY2023_Earnings_Results_on_August_14_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -2.5% | -6.1% | 0.5% |
| FCF Margin | ROE | ROA |
| 1.1% | 1.2% | 0.4% |
Analysis
GoodWhale has conducted an in-depth analysis of BROADWIND‘s financials and overall risk ratings. Our assessment has determined that BROADWIND is a medium risk investment, meaning that there are a few areas of business and financial aspects that may present potential risks. While it is not an excessively risky investment, it is important to take these into consideration. If you’d like to learn more about these areas, we invite you to register with us on goodwhale.com to gain access to our analysis and to explore the potential risks. More…
Peers
Its products and services include wind turbines, gearboxes, and service and maintenance. Broadwind Inc. has a strong presence in the United States, Europe, and China. The company’s main competitors are Siemens Energy AG, Bloom Energy Corp, and Inox Wind Ltd.
– Siemens Energy AG ($OTCPK:SMEGF)
Siemens Energy AG is a German company that focuses on the development and production of energy technologies. The company has a market cap of 10.48B as of 2022 and a Return on Equity of -4.82%. The company’s main products include gas and wind turbines, power generation equipment, and transmission and distribution systems.
– Bloom Energy Corp ($NYSE:BE)
As of 2022, Bloom Energy Corp has a market cap of 4.26B and a Return on Equity of 7545.01%. Bloom Energy is a publicly traded company that provides clean energy solutions. The company’s mission is to make clean energy affordable and accessible to everyone. Bloom Energy’s technology enables organizations to generate power from a variety of renewable sources, including solar, wind, and water. The company’s products are designed to be reliable and efficient, and to provide customers with a cost-effective way to reduce their carbon footprint.
– Inox Wind Ltd ($BSE:539083)
Inox Wind Ltd is an Indian wind energy company. The company has a market cap of 35.63B as of 2022 and a Return on Equity of -13.74%. The company is involved in the design, manufacture, and installation of wind turbines.
Summary
BROADWIND reported a positive earnings result for the second quarter of FY2023. Revenue for the quarter was USD 50.8 million, a 1.7% increase from the same period last year. Net income was USD 1.4 million, a 152.6% increase from the previous year. This positive result caused the stock price to go up the same day. Investors should take the news positively and watch for further developments from BROADWIND to inform their decision making.
Analysts have praised the company’s performance, citing strong management and cost-cutting measures as key drivers of success. Investors should consider both fundamental and technical analysis when making their investment decisions. Long-term investors should consider BROADWIND as an attractive addition to their portfolio.
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