Broadwind (BWEN) has finalized the sale of its Manitowoc, WI industrial fabrication operations to Wisconsin Heavy Fabrication, LLC, a subsidiary of IES Holdings, for $13.5 million in cash, excluding expenses and customary adjustments.
The transaction allows Broadwind to consolidate operations into its Abilene, TX facility, a move expected to save approximately $8 million annually, improve asset utilization, and strengthen its focus on higher-margin precision manufacturing markets.
CEO Eric Blashford emphasized that the divestiture supports Broadwind's strategy to streamline operations, enhance financial flexibility, and position the company for growth in power generation and infrastructure markets.
Alongside the completion of the sale, Broadwind reinstated its 2025 financial guidance, projecting revenues between $145 million and $155 million and adjusted EBITDA of $9 million to $10 million, excluding an estimated $9 million gain from the transaction.
Broadwind noted that adjusted EBITDA is a non-GAAP metric used by management and investors to evaluate operational performance, excluding items like interest, taxes, depreciation, and restructuring costs.
Wednesday BWEN closed at $2.17, up 2.36%, and is trading after hours at $2.46, up 13.36% on the NasdaqCM.
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