HUTCHINSON, Kan. — The Pandemic has hit all large companies, especially those who do business worldwide. That is the case for Siemens-Gamesa as they prepare to release their third-quarter earnings overnight on Wednesday.
The world number one wind turbine maker booked a total net loss of $172-million in its fiscal second quarter, down over 400% from the $52.8-million profit in the same period last year.
In May, the company cited a $53-million hit on profitability related to the COVID-19 pandemic.
The ability to get parts shipped from overseas and industry shutdowns in Europe forced Siemens Gamesa to furlough a number of workers in Hutchinson. The layoffs were shortlived and the plant was back to a full workforce soon after.
The third quarter will be unknown, but the manufacturer has built a record order backlog of $26.3-billion, which could ease some of the pain connected with the pandemic driven economy.