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TPI Composites Inc - TPIC STOCK NEWS

Welcome to our dedicated news page for TPI Composites (Ticker: TPIC), a resource for investors and traders seeking the latest updates and insights on TPI Composites.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect TPI Composites's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of TPI Composites's position in the market.

News
TPI Composites, Inc. Announces First Quarter 2024 Earnings Release Date and Conference Call
Rhea-AI Summary
TPI Composites, Inc. announced the release of its first quarter 2024 results on May 2, 2024, followed by a conference call. Investors can access the call via phone or webcast. Replay options are available for interested parties until May 16, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.38%
Tags
earnings
-
News
Edward Hall Nominated to Join the Board of Directors of TPI Composites, Inc.
Rhea-AI Summary
TPI Composites, Inc. (TPIC) announced the nomination of Edward Hall to its board of directors, with Philip Deutch and Linda Hudson retiring. Hall brings 35 years of experience in the electricity industry, enhancing TPI's strategic direction. The changes are effective after the annual meeting on May 29, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.19%
Tags
management
-
News
TPI Composites, Inc. Publishes its Annual Sustainability Report Reaffirming Its Commitments to a Zero-Harm Culture and Carbon Neutrality
Rhea-AI Summary
TPI Composites, Inc. published its 2023 sustainability report, emphasizing its commitment to renewable energy and sustainability goals. The report highlights achievements in safety, diversity, waste reduction, carbon neutrality, and supply chain collaboration.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.06%
Tags
none
News
TPI Composites, Inc. Announces Fourth Quarter and Full Year 2023 Earnings Results; Enhanced Liquidity Position and Projects Improved Profitability for the Second Half of 2024
Rhea-AI Summary
TPI Composites, Inc. reported Q4 and FY 2023 financial results, showcasing a strong liquidity position and strategic initiatives. The company refinanced Oaktree's Series A Preferred Stock, improved liquidity by $190 million, and reduced future obligations by up to $90 million. Despite a decrease in net sales, TPI expects improved financial performance in 2024, with profitability increasing significantly in the second half of the year. Adjusted EBITDA levels are projected to exceed $100 million annually starting in 2025.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
19.12%
Tags
earnings
-
News
TPI Composites, Inc. Announces Fourth Quarter and Full Year 2023 Earnings Release Date and Conference Call
Rhea-AI Summary
TPI Composites, Inc. will release its Q4 and full year 2023 results on February 22, 2024, followed by a conference call. Interested parties can access the call via phone or webcast. The replay will be available until March 7, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.22%
Tags
earnings
-
News
TPI and GE Vernova Expand Contract in Mexico 
Rhea-AI Summary
TPI Composites, Inc. (TPIC) announces expanded supply agreements with GE Vernova in Mexico, including additional production lines in a third facility within TPI’s Juarez campus to manufacture wind turbine blades for the US market. The partnership aims to support GE Vernova's competitiveness in serving the US market and signifies a new level of technical collaboration between the two companies. TPI has been manufacturing wind blades for GE Vernova since 2008.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.75%
Tags
none
News
TPI and Nordex Extend and Expand Contract in Türkiye
Rhea-AI Summary
TPI Composites, Inc. (TPIC) extends and expands supply agreements with Nordex in Türkiye, adding two lines of manufacturing capacity and extending the term of the agreements for up to three years through 2026.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
18.65%
Tags
none
-
News
TPI Composites, Inc. Announces Refinancing Transaction with Oaktree, Significantly Strengthening Company’s Liquidity Position and Enhancing Financial Flexibility
Rhea-AI Summary
TPI Composites, Inc. (Nasdaq: TPIC) announced a refinancing agreement with Oaktree Capital Management, L.P., converting $436 million Series A Preferred Stock into a $393 million senior secured term loan and exchanging the remaining $43 million into common equity. The maturity of the term loan was extended to March 31, 2027, providing improved liquidity of approximately $190 million and reducing future obligations by up to $90 million. The transaction eliminates prepayment penalties and financial maintenance covenants, offering significant refinancing flexibility.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
73.36%
Tags
none
-
News
TPI Composites, Inc. Appoints Charles Stroo as Chief Operating Officer, Wind
Rhea-AI Summary
TPI Composites appoints Charles (Chuck) Stroo as Chief Operating Officer, Wind, effective November 27, 2023. Chuck will lead TPI’s global wind manufacturing operations. Chuck previously served in multiple operational roles at Collins Aerospace, most recently as Vice President of Power & Controls Operations. TPI's CEO, Bill Siwek, expressed excitement about Chuck's appointment, citing his global operational background as crucial for the company's long-term profitable growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.11%
Tags
management
News
TPI Composites, Inc. Announces Third Quarter 2023 Earnings Results
Rhea-AI Summary
TPI Composites, Inc. reported financial results for Q3 2023, with net sales of $372.9 million, a decrease of 3.0% compared to the same period last year. The company finished the quarter with $161 million of unrestricted cash. Net loss from continuing operations was $72.8 million, and adjusted EBITDA was a loss of $27.4 million. The company provided updated guidance for full-year 2023, expecting net sales of approximately $1.5 billion and an adjusted EBITDA margin loss of around 5%.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-15.63%
Tags
earnings
Stock TPIC logo
TPI Composites Inc

Nasdaq:TPIC

TPIC Rankings

#4114 Ranked by Market Cap
#5286 Ranked by Stock Gains
N/A Ranked by Dividends

TPIC Stock Data

123.30M
42.67M
2.38%
78.92%
14.39%
Other Engine Equipment Manufacturing
Manufacturing
Link
US
Scottsdale

About TPIC

tpi is the largest u.s.-based independent manufacturer of composite wind blades for the high-growth wind energy market supporting global wind turbine manufacturers. tpi operates composite products manufacturing facilities in north america, europe and asia. our products excel where high strength, light weight and durability are required. tpi has over five decades of innovation and expertise in manufacturing large-scale composite structures of highest quality at a competitive total delivered cost to our customers. our advanced composites manufacturing technology allows us to build near aerospace grade parts at industrial prices. tpi's advanced composite technology and manufacturing expertise have also been applied to create first-of-their-kind composite solutions in the transportation markets.