Broadwind Announces Preliminary First Quarter 2023 Results, Increases Full-Year 2023 Financial Guidance

Broadwind to Host its First Quarter 2023 Results Conference Call on May 11, 2023 at 11:00 AM ET

CICERO, Ill., April 20, 2023 (GLOBE NEWSWIRE) -- Broadwind (Nasdaq: BWEN, “Broadwind” or the “Company”), a diversified precision manufacturer of specialized components and solutions serving global markets, today announced select preliminary results for its first quarter ended March 31, 2023, and updated financial guidance for the full-year 2023.

PRELIMINARY FIRST QUARTER 2023 RESULTS

All listed ranges are an estimate, based on information available to management as of the date of this release, and are subject to change subject to customary closing procedures (see Financial Disclosure Advisory below).

• Total revenue in a range of between $48 million and $49 million
• Total non-GAAP Adjusted EBITDA in a range of between $3 million and $4 million

FULL-YEAR 2023 FINANCIAL GUIDANCE UPDATE

The following financial guidance for the full-year 2023 reflects the Company’s current expectations and beliefs. All guidance is current as of the time provided and is subject to change.

$ in Millions		Previous Full-Year 2023 Guidance					New Full-Year 2023 Guidance
		Low		High			Low		High
Revenue		$200		$220			$205		$220
Non-GAAP Adjusted EBITDA		$14		$16			$16		$18

MANAGEMENT COMMENTARY