Broadwind Inc (NASDAQ: BWEN) is a precision manufacturing company headquartered in Cicero, Illinois, that produces structures, equipment, and components for power generation, critical infrastructure, and other specialized applications. Revenue is transactional, generated through supply agreements and individual purchase orders across three segments: Heavy Fabrications, Gearing, and Industrial Solutions. The company serves customers in energy, mining, and infrastructure sectors, primarily in the United States. Net revenues were $158.1 million in FY2025, up 10% from $143.1 million in FY2024. Backlog stood at $95.8 million as of December 31, 2025, down 24% from $125.5 million at December 31, 2024. The company had 341 U.S.-based employees as of December 31, 2025. Incorporated in 1996 as Blackfoot Enterprises, Inc., the company became Broadwind Energy, Inc. in 2008. Eric B. Blashford serves as President and Chief Executive Officer. The company carries over $298 million in net operating losses as of December 31, 2025.

Revenue model

Transactional revenue from supply agreements and individual purchase orders. Heavy Fabrications sells wind towers and related structures under multi-quarter supply agreements. Gearing and Industrial Solutions segments sell primarily on individual purchase orders. No subscription or recurring-fee structure is disclosed.

Products and services

Heavy Fabrications: wind towers, wind tower adapters, and pressure reduction stations (PRS units including compressed natural gas virtual pipeline systems). Gearing: loose gearing, gearbox manufacturing and repair, precision machining. Industrial Solutions: supply chain solutions, kitting and assembly, instrumentation and controls, valve assemblies, sensor devices, fuel system components, electrical junction boxes and wiring, electromechanical devices, panel fabrication, and solar powered shelters and charging stations.

Customers and end markets

Customers operate in wind power generation, combined cycle natural gas power generation, oil and gas (fracking and drilling), onsite power generation, solar power generation, surface and underground mining, pulp and paper, and waste processing. Industrial Solutions segment added new gas turbine customers in FY2025. The filing does not disclose individual customer names or concentration percentages.

Value-chain role

Contract manufacturer and component supplier sitting between raw materials and OEM or project developer customers. Provides fabrication, machining, assembly, kitting, and supply chain management services. Supports OEM supply chain domestication for wind tower internals.

Geographic exposure

Operations and sales are primarily in the United States. Facilities include locations in Cicero, Illinois and Neville Island, Pennsylvania. The company sources through a global supply chain for Industrial Solutions components. No international revenue breakdown is disclosed.

Source: SEC 10-K, filed 2026-03-11

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