total on to wind on Stephanie. us slide those improved Beginning reached million, in you, Thank Order $XXX XXXX And more good the market. multi-year $XXX six. condition within year activity to million than demand as on onshore continue U.S. year to call. with joining capitalize the orders high up a over morning we
wind increased total to Mackenzie XXXX energy in increased projects by PTC grow to Wood phaseout. of mainly gigawatt, driven gigawatts X to installations XX ahead installation in While by XXXX, X% activity the approximately total
Further, being mentioned are towers at filed earlier, case was as several trade countries, imported tower importers than Stephanie from a alleging that fair value. against less
XXXX, case, in As orders of will we XXXX recorded $XXX by of a slots. result tower trade of to million replace our this customers environment demand stronger which most the secure and production
up three utilization Absent that with were orders will are revenue. and future annual in we better year that vastly our The a have our a operating any record major plants representative result. levels expect agreement a we of orders, improved tower framework not yearend at backlog XXXX, XX% anomalies customer as be triggered is a
from this Fourth plant for This both to X. fabrication. million, $XX.X the quarter fourth million, and towers Slide $XX our of exceeding million $XX.X consecutive fabrication quarter to in consolidated we utilization to up segment our was year. sales committed industrial primarily were early per due heavy quarter on improved guidance Moving
$XXX.X to expansion increased existing new content our the customer our sales markets and increased again utilization, year within of plant change, increased base million, driven year by into over customers. year a XX% Full
up in segment. due each to each quarter Fourth our and a expanded of line operational performance non-tower product from profitable improved prior more mix gross to X.X%, quarter, margin year again operating the X.X% better product in leverage, negative in
executed lower a at unfairly tower into the time of surging margin tower margins. period temporary contracts, in which a contracts XXXX our on when imports through manage were priced we QX, weighed During tower market. were These
this majority further due of margin volume. efficiencies production increases As expect improve fulfilled XXXX, into to in realized the and were lower we to move be should QX as contracts we in margins
margin or a to in expenses X.X% $XX.X compared expect of to near prior expenses in QX these sales, gross excluding from X.X% levels percent our down in X.X% year. percent and year Operating items Full managed manage XXXX. quarter was operating the throughout million XX% year as to onetime we XXXX the prior was
in $X.X Each contributed of we full EBITDA million and million the positive for during generated in the We prior our million full increase EBITDA fourth year for a compared the $X.X EBITDA the year. generated segments over $X.X a $X million loss and QX, year year. year quarter to
quarter $X.XX the the element in of the We Red in reported of prior loss Broadwind's a per per year related $X.XX net in a accelerated year. training, prior $X.XX with year the to amortization initiative. quarter share Wolf versus per loss of net $X.XX the The included share mainly conjunction a current a non-cash period, in share to fourth rebranding due charge
in product We Manitowoc and to our Turning with both renamed to slide industrial segment, initiative. and lines plants. include coincide this rebranding eight line. fabrication our tower our QX These heavy and Abilene fabrication product produced we Within are nine. in segment
an industrial years $X up ago. million run annualized booked $XX of XXXX, XX% several for We rate in increase orders fabrication approximately year-over-year from and
We OEM fabrication aftermarket applications large in in a demand industrial shipbuilding have which markets. machine material handling, mining, used to and and support are capability customer been demanding for adding environments, other construction, scale and
This pad Seaway. large customers to our our advantage barge staging fabrications. currently access adjacent significant of well barge a of in Lawrence plant facility is and installing One to positions deepwater facilitate investment port St. our the Manitowoc to shipments with to take our
heavy to in $XX.X revenue year. compared million was For $XX.X million the fabrications the prior quarter
utilization team XXXX in XXXX. plant near XX% improved QX in with good Our and following progress in shutdown operational to rebuilt performance. commercial management the increased The QX levels business
Industrial fabrication to strengthened increase. year throughout demand over leading revenue over million in year year XX% XX% sections and produced, for over to XXXX, XXX QX, over sales Tower in increase year rose an a $X
consistent compared million prior $X.X loss a in driven improvement the to plants. more of The growth our was QX was demand, million product EBITDA primarily by higher $X.X year. through
specifically These which assembly margins is the manifest chain sub chain supply process challenges production optimized. themselves our supply components, on when globally. persist, internal Tower sourced challenges final are in However,
several addition support in a turbine a from that customers, for the the the year year contracts our we not produced wind and majority order a including of Full Full an XXXX years new million. million farm. have from $XX.X EBITDA were orders $X.X to for XXXX to year, by the production by million, support improved $X.X million orders $XXX.X from the orders in replaced of two tower customers prior is included up order segment OEM to of repowering in in these material
levels due line bill backlog. a in to backlog tower Book our fabrication XXXX. $XXX.X at industrial ended activity in Our of was million product $X.X and our higher to doubling
We several of backlog. best production had XXXX have XX% in The years. our we've visibility in
to XX. Turning slide
and sales. Our improved $X.X a improvement Gearing less margin. of Operational to an operating EBITDA year product XX% over in generating year income action million led a business $X.X pricing of well and and million EBITDA performed $X improvements, XXXX, mix million
by in years. shipments sales and declined oil to QX a In in $XX.X XXXX, oil reduction million primarily QX driven declined $X.X million frack and from XXXX million. gas by of gas $X
and gas has and locking was significant This rebuilding production early in volatile slots face into long demand. in horsepower supply and a XXXX into moved environment. frack increase of in to is been more Throughout historically lead and its chain quickly challenging oil the market support a times XXXX, market
in for frack to and expect utilization, year, occur for timing Uncertainty share of recovery CapEx this the These headwinds, remains, has as the cannibalization the improve market fleet can more demand which challenges overall have Despite taken market. in over cannibalization overall equipment during that past we only environment. time long. but softness now these helped of so low we compensate include the of an
basis of prior gas in Orders from a large XXXX, declined year driven over million and and order absence wind $XX.X oil the lower on in by aftermarket a million to primarily year $XX.X the year. multi-year
gearing, perspective, wind other each mining, steel aftermarket XXXX. markets and revenue a improved in industrial From
product to product of industries typically product this for has higher to line our product us, are less as XX% focus due and been due key margins the XXXX. engineer and customer in Importantly, increase gearbox an by in a grew content. line We healthier margins typically these nature the in an are competition growing our foreign
our rebranding We our XX. renamed Process slide QX System part as in Solutions. to segment initiative Industrial to of Turning
services. Solutions supply Industrial assembly chain the management, inventory Within an kitting segment, solution, we provide
EBITDA positive primarily year the for million over year, although we We third other market. increase. cycle natural combined quarter. over was into the sales XX% to year an serve QX achieved turbine year our $XX.X expanding up consecutive are We gas flat market, and year
and year, commercial action good taken we earlier EBITDA by ending year, improved year $XXX,XXX. progress, $X.X Following in targeted over price the improvement operational at the year actions million
of result in accelerated Red initiative, non-cash by the a the the $XXX,XXX and of we amortization the value recording As company's charge Wolf a rebranding tradename QX.
growth over and orders turbine Our up solar the were in by QX year natural year, gas XX% ordering driven content.
following customer was driven growth gas levels. This to back share XXXX XXXX the item, recovered turbine our in primary by
gas We encouraged the positive year increased orders of nearly over global, market, turbine the as by are also turbines large XX% by year industry momentum in
risen over we provide we share nearly gas next gas year as the our our turbine expanded primary $X.X OEM, turbine has a lastly, And supporting Additionally, had year dominant improving natural customer base, within XX%. backlog overseas success have million, customer up two result our content. to our to
Turning XX/XX/XXXX $X.X past for with was point business working sales. QX, million several represents capital over or XX Along Slide our XX, the of low a to at years. operating this
cash decision driving in held was We initiative XXX between Our over and employees, cycle actions improve cash connection cash events effective daily conversion to conversion for XXXX. training the flow.
days to XX compensation organization XXXX will element in compared declined XXXX independent average focus This of conversion continue a will and days the broader program. remain in XX key to Cash XXXX.
financing programs by the year. the declined management additional DSO to XXXX of improved prior This and was from XX from in driven cash our days at customers. XX Our introduction receivables days year for and
turns inventory and the we Inventory XX as year, prior we a in healthier to Days low are days turns. days steel plate at XXXX. liquidated much declined approaching customer's procured our cost request XX six that from in
deposits Overall have they from in were been have of deposits past been capital customers. follow working driver flat and fluctuation. typically order year, historically current volatile customer also Customer but patterns our the a
XXXX. in continue to volatility this expect We
flat Total year liquidity which is cash availability at remains on improvement our under sales. year sequentially and $XX on line million hand less million EBITDA $X.X of over credit
oil and gas by XXXX, to $XX.X by production shipments million. sales reduction gas a and million frac into Throughout $X.X years. horsepower frack the and increase and million locking significant XXXX QX gas early chain long QX rebuilding face to declined demand. oil driven from $X in just its lead declined supply of in primarily in and oil of reported in market was times XXXX XXXX In slots
This been environment. we challenging more utilization, include the remains, more but overall for volatile a equipment long. moved of into can challenges CapEx cannibalization as low Uncertainty and has recovery quickly over of cannibalization occur market now to historically and environment. has an timing time of so frac the These improve only expect demand fleet
gas XXXX, year driven in Despite past the Orders wind overall lower these large $XX.X year, the in year. that helped from taken and aftermarket headwinds, a $XX.X year softness order by on the this in prior and market compensate market. basis which share for multi-year of to oil during we primarily have million a in declined over absence has million the
From in markets gearing, mining, a industrial each steel other XXXX. wind perspective, and aftermarket revenue improved
the in foreign Importantly, to typically competition. are margins higher industries product due these less
an In product product content. growing margins our nature has to customer gearbox healthier by typically XX% of our and the engineer this due in XXXX. as us, a line an grew been are focus increase key We product for line
our Turning to Process QX initiative rebranding to segment Solutions. We of renamed our slide XX. as part Industrial in System
other provide Industrial natural we Solutions serve expanding assembly segment. supply although turbine We solution, gas market, the getting combined the inventory management are services. Within primarily We chain and cycle market. into
an year, over year quarter. increase. consecutive year $XX.X flat was year achieved EBITDA We million a our QX year third up for XX% and to sales positive over
progress, at ending $XXX,XXX. commercial $X.X taken year in by actions earlier good action operational targeted the price and year, improved we year improvement Following EBITDA the over year million
non-cash of As training and QX. Red we result a initiative, charge in of $XXX,XXX by the the recording value hour a company's Wolf accelerated rebranding the amortization
QX year, by store over orders the year Our were growth content. up driven natural turbine XX% in ordering and gas
our was customer to primary back the by in XXXX item, recovered following driven growth XXXX This gas levels. share turbine
the We momentum orders over turbine market, increased as the positive year are encouraged also by gas nearly global, XX% industry large turbines year in by of
in to million be the our content. we customer provide dominant and And turbine for EBITDA we our share expect $XX to supporting improving customer overseas the we had natural to next between our to Additionally, success factors base, have primary lastly, two gas within expanded $XX million XXXX be company profitable.
strategy over Blashford call provide I'll update market. turn to and the our an to on Eric
