Reports Q4 revenue $40.1M, consensus $42.7M. "We continued to advance our commercial strategy during the fourth quarter and full-year 2022, resulting in strong, year-over-year revenue growth across our diverse end-markets," stated Eric Blashford, President and CEO of Broadwind. "For most of last year, persistent supply chain disruptions and elevated raw materials costs impacted customer activity levels, particularly within the domestic, onshore wind market. Beginning in the fourth quarter 2022, freight activity began to normalize, raw materials prices showed signs of returning toward historical levels and customer demand across both wind and non-wind markets began to increase. Recent actions we’ve taken to improve asset optimization and reduce fixed overhead have taken hold, positioning us to drive profitable, above-market growth into a recovery."
Published first on TheFly
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