US wind turbine tower manufacturer Broadwind made a net loss of $2m in the fourth quarter of 2020, slightly wider than the $1,565,000 loss it made in the same period of 2019.
The company said it was impacted by a delay in the delivery of a tower order to a new wind turbine customer, lower gearing demand and pandemic-related supply chain disruptions.
Revenue in the last quarter of 2020 was $40.3m, a drop of 18% on the over $49.2m it reported in 2019.
Sales were down to $37.6m in Q4 2020, from just under $45.3m in the previous year’s period.
Broadwind also made a loss for the whole of 2020 of just under $1.5m, which was an improvement on the over $4.5m loss it made in 2019.
For the full-year, total orders declined 33% versus the prior-year, as wind turbine original equipment manufacturers secured production capacity in 2019 in advance of historical lead times due to surging wind tower installation expectations in 2020, the company said.
Broadwind president and chief executive Eric Blashford said: “The outlook for the domestic wind energy industry continues to improve, driven by increased commercial and industrial demand for renewables, together with bipartisan support for policies that seek to accelerate new investment in both onshore and offshore installations.
“We remain a key participant in the clean energy transition, our long-term customer relationships with the world’s leading wind turbine original equipment manufacturers position us to benefit from a significant, multi-year investment cycle in carbon-neutral energy resource development.”