Broadwind Energy Inc Down 6.10% To $2.38 After Earnings Miss

Broadwind Energy Inc (BWEN) said before open Tuesday that it lost $0.13 per share in quarter two 2022.

On the revenue line, the company reported $50 million, beating estimates by $6.7 million.

In the same quarter a year ago, the company earned $0.53 per share on revenue of $46.5 million.

The stock is down 6.10% to $2.38 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Broadwind Energy Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 80, putting Broadwind Energy Inc in the top 25% of stocks. The firm was recently trading at a 52-week low of $1.46 on May 12, 2022 and set a 52-week high on August 10, 2021 at $4.07.

Broadwind Inc provides technologically value products to energy, mining, and infrastructure sector customers in the United States of America. It operates through three operating segments namely Heavy Fabrications segment manufactures towers for wind turbines, specifically the large and heavier wind towers that are designed for multiple megawatt wind turbines; Gearing segment engineers, builds and remanufactures precision gears and gearing systems for oil and gas, wind energy, mining, steel and other industrial applications; Industrial Solutions segment which provides contract manufacturing services throughout the U.S. and in foreign countries, primarily supporting the natural gas turbine power generation market.