Why Broadwind (BWEN) Shares Are Gaining Today - Broadwind (NASDAQ:BWEN)

Broadwind Inc BWEN has received $175 million in new tower orders from a global wind turbine manufacturer.
The company will produce the ordered tower sections at both its Abilene and Manitowoc facilities.
The two-year order secures approximately 50% of optimal tower production capacity across Broadwind's facilities in 2023 and 2024.
The order also qualifies for advanced manufacturing tax credit under the Inflation Reduction Act (IRA) passed into law in 2022.
Fulfillment of the new order will occur during the full year 2023 and conclude by the end of 2024.
"This important win will support a balanced production schedule over the next two years, materially increase system-wide facility utilization, and drive improved economies of scale across our organization,” said CEO Eric Blashford.
Price Action: BWEN shares are trading higher by 58.85% at $3.59 in premarket on the last check Wednesday.

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Broadwind Stock Gains Following $175M Wind Tower Order