Broadwind Q1 Revenue $34.1M with 23% Order Growth and $17.2M Facility Sale
Broadwind posted Q1 revenue of $34.1 million and GAAP net loss of $0.5 million, delivering non-GAAP EBITDA of $2.2 million (6.5% margin) as total orders rose 23% to $37.4 million. The company received $17.2 million from selling its Abilene facility and will exit wind tower production by Q3 2026.
1. First Quarter Financial Results
Broadwind reported Q1 2026 total revenue of $34.1 million and a GAAP net loss of $0.5 million, or $0.02 per share. Non-GAAP adjusted EBITDA reached $2.2 million (6.5% margin) while total orders climbed 23% year-over-year to $37.4 million, reducing net debt to trailing twelve-month EBITDA to 1.7x.
2. Segment Performance
Heavy Fabrications revenue declined 35% to $16.4 million due to lower wind tower and PRS demand, while Gearing segment revenue rose 42% and Industrial Solutions grew 64%, driven by power generation, mining and natural gas turbine markets. Gearing orders jumped 66% to support a $30.5 million backlog and Industrial Solutions orders increased 44% for a record $43.3 million backlog.
3. Strategic Asset Sale and Focus
In April 2026 Broadwind sold its Abilene facility for net cash proceeds of $17.2 million and will exit wind tower production by Q3 2026. The company plans to refocus on its higher-growth Gearing and Industrial Solutions segments and pursue accretive bolt-on precision manufacturing acquisitions to boost scale and profitability.