2023-04-20 18:27:51 ET
- Shares of Broadwind ( NASDAQ: BWEN ) on Thursday jumped 13.6% to $5.25 in post-market trading after the company reported preliminary Q1 revenue above consensus.
- The maker of fabricated steel structures and provider of gearing and industrial solutions said preliminary Q1 revenue came in between $48M and $49M. The consensus revenue estimate is $45.46M.
- The company also raised the lower end its FY 2023 revenue guidance to $205M-$220M from $200M-$220M previously.
- The FY guidance raise was driven by improved demand across both the company's legacy wind markets and "newer diverse" markets, BWEN CEO Eric Blashford said in a statement .
- BWEN also said it expected Q1 adj. EBITDA in a range of between $3M and $4M. Furthermore, the company said it now expected FY adj. EBITDA of $16M to $18M from $14M to $16M previously.
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Broadwind stock rises ~14% after hours on higher-than-expected prelim. Q1 revenue