Welcome to our dedicated page for Tpi Composites news (Ticker: TPIC), a resource for investors and traders seeking the latest updates and insights on Tpi Composites stock.
TPI Composites, Inc. (TPIC) is a Scottsdale, Arizona-based manufacturer focused on composite products for the wind energy market, with operations in the U.S., Mexico, Türkiye and India and engineering and service centers in Europe and North America. This news page aggregates company announcements, earnings releases, restructuring updates and other disclosures so readers can follow how TPI Composites’ business and capital structure are evolving.
Recent news has highlighted both operational milestones and significant financial developments. The company has reported the production of its 100,000th wind blade since 2001 and described ongoing transitions to next-generation blade models, changes in manufacturing utilization, and adjustments to its global footprint, including facility shutdowns and restarts. TPI Composites also issues quarterly and annual earnings releases that discuss net sales from wind blades, tooling and field services, utilization of manufacturing lines, and non-GAAP measures such as EBITDA and adjusted EBITDA.
A major focus of recent news is the company’s financial restructuring. TPI Composites announced that it and certain subsidiaries commenced voluntary chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas to facilitate a restructuring of its business and balance sheet. Related news items describe debtor-in-possession financing arrangements, use of cash collateral, and expectations about the future ownership of the reorganized company. The company has also reported a Nasdaq delisting determination linked to the chapter 11 cases and has cautioned investors about the risks of trading its common stock during this process.
Other news includes TPI Composites’ participation in industry and educational initiatives, such as sponsoring the wind tunnel competition at the World KidWind Challenge at the American Clean Power Association’s CLEANPOWER Conference. Investors and observers can use this page to review earnings announcements, restructuring updates, operational changes and corporate initiatives as they are released.
TPI Composites (NASDAQ: TPIC) has received approval from the U.S. Bankruptcy Court for all first-day motions in its Chapter 11 proceedings. The court granted interim approval for $82.5 million in debtor-in-possession financing from senior secured lenders. The approvals enable TPI to maintain normal business operations, including employee wages and benefits, cash management systems, and critical prepetition obligations.
CEO Bill Siwek emphasized the company's focus on maintaining stability for employees, customers, and partners while executing strategic initiatives for long-term strengthening. The company has established dedicated channels for stakeholders to access information about the restructuring process through Kroll, its claims agent.
TPI Composites (NASDAQ: TPIC), a wind blade manufacturer, has initiated voluntary Chapter 11 bankruptcy proceedings to facilitate a comprehensive restructuring. The company has secured an agreement with Oaktree Capital Management for up to $82.5 million in debtor-in-possession (DIP) financing, subject to court approval.
The DIP financing includes $27.5 million in new money for day-to-day operations and $55 million rolled up from existing credit facilities, along with approximately $50 million in cash collateral usage. TPI plans to continue normal operations throughout the restructuring process, maintaining its manufacturing sites and blade services while honoring obligations to key stakeholders.
TPI Composites (NASDAQ: TPIC) has announced its sponsorship of the wind tunnel competition at the World KidWind Challenge, taking place during the ACP CLEANPOWER Conference in Phoenix from May 18-21, 2025. The World KidWind Challenge is an educational competition where students design, build, and test small-scale wind turbines.
As the wind tunnel sponsor, TPI Composites will support the testing phase of the competition, providing students with a state-of-the-art environment to evaluate their turbine designs. The company's CEO, Bill Siwek, emphasized their commitment to nurturing future renewable energy leaders through this initiative.
TPI Composites (TPIC) has announced a change in its first quarter 2025 earnings release schedule. The company will now release its Q1 2025 results after market close on Monday, May 12, 2025, followed by a conference call at 5:00 p.m. Eastern Time. Investors can access the call via phone (1-877-407-8291 for domestic, 1-201-689-8345 for international) or through a webcast on the company's Investor Relations website. A replay will be available until May 26, 2025, using passcode 13752924.
TPI Composites (TPIC) has scheduled its first quarter 2025 earnings release for Thursday, May 8, 2025, after market close. The company will host a conference call at 5:00 p.m. Eastern Time on the same day.
Investors can access the call via phone by dialing 1-877-407-8291 (US) or 1-201-689-8345 (International). A replay will be available for two weeks until May 22, 2025, accessible at 1-877-660-6853 (US) or 1-201-612-7415 (International) using passcode 13752924.
Additionally, a simultaneous webcast will be available on the Investor Relations section of TPI's website at www.tpicomposites.com, with a -time online replay option.
TPI Composites (TPIC) has released its 2024 sustainability report, showcasing significant progress in environmental and operational initiatives. The wind blade manufacturer achieved notable safety metrics with a Total Recordable Incident Rate of 0.13 and Lost Time Incident Rate of 0.05, both well below industry standards.
Key achievements include the introduction of BladeAssure™, their new quality standard for wind blades, and a 5% waste reduction in production. The company expanded its renewable energy footprint through a Power Purchase Agreement (PPA) in Mexico, powering 100% of regional sites, while maintaining renewable energy sourcing in India and Türkiye facilities.
The report highlights supply chain sustainability, with 94% of critical direct material suppliers aligning with TPI's environmental goals. The company also strengthened employee engagement through Global Values in Motion Awards and successfully met its annual engagement survey score targets.
TPI Composites (Nasdaq: TPIC) has announced reaching a significant milestone with the production of its 100,000th wind blade since 2001. As a leading manufacturer of composite blades for the wind energy market, this achievement highlights the company's long-standing commitment to advancing wind energy technology and manufacturing high-quality, reliable blades.
CEO Bill Siwek emphasized the milestone's significance as a testament to their global team's dedication and customer trust. The company's advanced manufacturing processes and global footprint have positioned TPI as a key player in the worldwide expansion of wind energy, with their blades being utilized in turbines generating clean electricity.
TPI Composites (TPIC) reported Q4 2024 financial results with net sales of $346.5 million, up 17.7% year-over-year. The company posted a net loss of ($49.1) million for Q4 2024, compared to net income of $14.6 million in Q4 2023. Adjusted EBITDA improved to $1.2 million from a loss of ($24.5) million in the same period last year.
For full-year 2024, net sales decreased 7.1% to $1,331.1 million, with a net loss of ($210.1) million. The company made strategic decisions including divesting its Automotive business, shutting down a Mexico facility, and restructuring its workforce in Türkiye. TPI ended 2024 with $197 million in unrestricted cash and extended supply agreements with Vestas and GE Vernova through 2025.
The company is ramping up production in Mexico to support 24/7 operations due to exceeding demand capacity for 2025, and plans to reopen its Iowa plant in mid-2025 to support GE Vernova.
TPI Composites (TPIC) has announced it will release its fourth quarter and full year 2024 financial results after market close on Thursday, February 20, 2025. The company will host a conference call at 5:00 p.m. Eastern Time on the same day.
Investors can access the call by dialing 1-800-579-2543 (US) or 1-785-424-1789 (International) using Conference ID 'TPIC'. A replay will be available until March 6, 2025, accessible by dialing 1-844-512-2921 (US) or 1-412-317-6671 (International) with passcode 11157847. Additionally, a simultaneous webcast will be available on the Investor Relations section of TPI Composites' website.
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