It was “another tough quarter” for Broadwind, chief executive Peter Duprey said Thursday, as the Chicago-based company failed to meet its own downwardly revised guidance.
Broadwind’s revenue fell and its operating loss deepened in the third quarter. Shares of the company dropped more than 8% on the results Thursday morning, and are down more than 80% since spiking in mid-2014.
Quarterly revenue was impacted by the company’s failure to manufacture as many turbine towers as planned, due to supply chain hiccoughs, quality issues with steel it had purchased, and production constraints at its facilities in Texas and Wisconsin.
Broadwind
