Broadwind Revenue Rises 48% to $22.3 Million in Third Quarter
Key Facts
Broadwind reported third-quarter results on November 12, posting revenue of $22.3 million, up 48% year over year, according to the company’s filing with the U.S. Securities and Exchange Commission. The results cover the quarter ended September 30, 2026. Revenue growth came as total orders rose 13% to $33.7 million. But the company recorded a loss from continuing operations, putting sales growth in a broader financial context than revenue alone. The company attributed the increase in orders mainly to record demand in its Industrial Solutions segment related to gas turbines, along with higher PRS orders.
The loss from continuing operations was $1 million, or $0.04 per diluted share, compared with income of $5.2 million, or $0.22 per share, in the third quarter of 2025. On a non-GAAP basis, Broadwind reported adjusted EBITDA of $0.5 million, compared with a loss of $1.2 million a year earlier. The comparison highlights how profitability differs depending on the measure used: the GAAP result was a loss, while adjusted earnings turned positive. The CEO said both segments posted organic revenue growth of more than 30%, with operating profitability improving from the year-earlier period. Adjusted EBITDA margins in the Industrial Solutions and Gearing segments also rose by more than 500 and 600 basis points, respectively.
Industrial Solutions revenue rose 32% to $10.4 million, driven mainly by natural gas turbine content, according to the filing. In the Gearing segment, revenue increased 36% to $9.6 million. The segment posted operating income of $0.1 million, after an operating loss of $0.6 million in the third quarter of 2025. The figures show that growth spanned both segments, with a clear improvement in Gearing’s operating result from the prior period. The CEO said PRS business orders improved, reaching $4 million during the quarter.
Power generation-related orders accounted for more than 70% of the quarter’s order book and rose 18% year over year, the CEO said. The company linked order growth to continued investment in natural gas-fired power generation. Gas turbine orders helped Industrial Solutions achieve a record order level, while PRS orders also increased. As a result, most orders in the quarter were concentrated around power generation, according to the company’s description of its order book. The CEO said, "Power generation-related orders represented more than 70% of the third-quarter order book and increased 18% year over year."
Cash available and liquidity under the credit facility totaled $39.7 million at quarter-end, or $30.9 million after adjusting for the minimum availability requirement. Debt and finance lease obligations totaled $5.9 million on September 30, 2026. These figures follow the company’s announcement in the week before the results that it had acquired MCM, its first acquisition in nearly a decade, according to the filing. MCM is a vertically integrated supplier to the electric power transmission and distribution sector, and management said the deal is expected to be immediately accretive to earnings. The company linked the deal to multiyear investments to expand, strengthen and improve the resilience of the electric grid.
Broadwind said its upcoming priorities include integrating MCM and optimizing its asset base, alongside organic growth and additional acquisitions. That places the integration within management’s future plans, following the announcement of the deal in the week before the results, rather than among the factors the filing cited for revenue growth in the quarter ended September 30. The third-quarter earnings review conference call was held on November 12, 2026, at 11:00 a.m. Eastern Time. The company made a replay of the call available through November 19, 2026. Management said, "Our priorities include successfully integrating MCM and continuing to optimize our asset base."