Broadwind Energy (BWEN) surprised a bit Monday morning posting a doubling of revenues over the year ago quarter and beating analyst estimates in the process with $43.5 million in revenues. That’s good news for Broadwind and the wind energy industry as a whole, but the company still failed to turn a profit and posted a wider EPS loss than analysts expected (loss of .04, analysts expected .02/share loss. Traders focused on the positive of this beaten down stock though as it closed up about 4% yesterday. The stock actually looks like it may be putting in a bottom, but that will likely depend on how they report next quarter. Traders won’t accept red ink for too much longer.
CEO Peter C. Duprey commented on the quarter:
Our focus on larger towers and rebalancing our revenue stream between wind energy and industrial customers is paying off. We are expanding our sales force and ensuring that we are customer focused in delivering a quality product, on time. While we continue to face a challenging wind energy market, we remain focused on the diversification of our customer base and the expansion of our services business where we have strong core competencies.