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The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters, while missing in one. The average beat was 82%.
Let’s see how things have shaped up for Broadwind Energy this earnings season.
Strength in the industrial and energy markets, labor efficiencies, cost-management actions and benefits from IRA-related tax credits are expected to drive Broadwind Energy’s third-quarter results.
Increased demand from industrial customers is expected to boost revenues for the Gearing segment in the to-be-reported quarter. Higher demand for natural gas turbine content is expected to translate into higher revenues for the Industrial Solutions segment.
However, decreased activity in the mining and construction markets is expected to weigh on Broadwind Energy’s results in the soon-to-be-reported quarter.
What Does the Zacks Model Say?
Our proven model does not conclusively predict an earnings beat for Broadwind Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here, as elaborated below.
Earnings ESP: Broadwind Energy has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 11 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Broadwind Energy currently carries a Zacks Rank #3.
Highlights of Q2 Earnings
Broadwind Energy reported second-quarter 2023 earnings of 7 cents per share, which surpassed the Zacks Consensus Estimate of 4 cents. In the year-ago period, the company had incurred a loss of 13 cents. Total revenues of $51 million outperformed the Zacks Consensus Estimate of $49 million and increased 2% year over year.
Stocks to Consider
Here are some companies within the broader Industrial Products sector, which, according to our model, have the right combination of elements to beat on earnings in this reporting cycle.
LegalZoom.com delivered a trailing four-quarter earnings surprise of 10.4%, on average.
Albany International (AIN - Free Report) has an Earnings ESP of +5.88% and a Zacks Rank #3. The company is slated to release third-quarter 2023 results on Nov 6.
Albany International pulled off a trailing four-quarter earnings surprise of 12.5% on average.
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What's in Store for Broadwind Energy (BWEN) in Q3 Earnings?
Broadwind Energy (BWEN - Free Report) is scheduled to release third-quarter 2023 results on Nov 8, before market open.
The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters, while missing in one. The average beat was 82%.
Let’s see how things have shaped up for Broadwind Energy this earnings season.
Broadwind Energy, Inc. Price and EPS Surprise
Broadwind Energy, Inc. price-eps-surprise | Broadwind Energy, Inc. Quote
Factors to Note
Strength in the industrial and energy markets, labor efficiencies, cost-management actions and benefits from IRA-related tax credits are expected to drive Broadwind Energy’s third-quarter results.
Increased demand from industrial customers is expected to boost revenues for the Gearing segment in the to-be-reported quarter. Higher demand for natural gas turbine content is expected to translate into higher revenues for the Industrial Solutions segment.
However, decreased activity in the mining and construction markets is expected to weigh on Broadwind Energy’s results in the soon-to-be-reported quarter.
What Does the Zacks Model Say?
Our proven model does not conclusively predict an earnings beat for Broadwind Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here, as elaborated below.
Earnings ESP: Broadwind Energy has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 11 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Broadwind Energy currently carries a Zacks Rank #3.
Highlights of Q2 Earnings
Broadwind Energy reported second-quarter 2023 earnings of 7 cents per share, which surpassed the Zacks Consensus Estimate of 4 cents. In the year-ago period, the company had incurred a loss of 13 cents. Total revenues of $51 million outperformed the Zacks Consensus Estimate of $49 million and increased 2% year over year.
Stocks to Consider
Here are some companies within the broader Industrial Products sector, which, according to our model, have the right combination of elements to beat on earnings in this reporting cycle.
LegalZoom.com (LZ - Free Report) has an Earnings ESP of +17.65% and a Zacks Rank #2. The company is slated to release third-quarter 2023 results on Nov 7. You can see the complete list of today’s Zacks #1 Rank stocks here.
LegalZoom.com delivered a trailing four-quarter earnings surprise of 10.4%, on average.
Albany International (AIN - Free Report) has an Earnings ESP of +5.88% and a Zacks Rank #3. The company is slated to release third-quarter 2023 results on Nov 6.
Albany International pulled off a trailing four-quarter earnings surprise of 12.5% on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.