Broadwind has received wind tower orders from an unnamed existing customer, totalling $21m, but another undisclosed turbine manufacturer has postponed a portion of a towers order due this year until 2021.
The towers for the new contract will be manufactured at the company’s Abilene facility in Texas.
The company expects to deliver the tower sections to its customer during the first half of 2021, Broadwind said.
It added that the postponed order should have been delivered in the third quarter 2020 but will now be supplied in the first quarter of 2021.
Broadwind said that within the company’s Gearing segment, demand conditions remain below prior-year levels, with expectations for improved order activity into 2021.
The company said that due to the reduced plant capacity utilisation, Broadwind estimates that up to $2.5m of adjusted EBITDA will shift from the second half 2020 to the first half 2021.
Broadwind said that that most of the revenue and EBITDA shift will adversely impact third quarter 2020 results.
“Importantly, the company has not experienced any material customer cancellations within its order book,” it said.
Broadwind president and chief executive Eric Blashford said: “While the timing of wind tower orders can vary from quarter to quarter, our tower backlog remains at elevated levels, providing improved visibility as we look ahead to 2021.
“While the impact of Covid-19 has pushed some customer orders out into early next year, all indications are that tower demand activity is expected to remain strong over the next 12 months, given the overall strength of the wind market supported by the recent Production Tax Credit safe-harbour extension.
“For the full-year 2020, we anticipate revenue of approximately $200 million, together with double digit percent year-over-year growth in adjusted EBITDA, supported by our ongoing diversification efforts and a stable outlook within our core clean tech markets.”