Tpi Composites Stock Price, News & Analysis

TPI Composites (TPIC) announced the appointment of Jennifer Lowry to its board of directors, effective November 13, 2024. Lowry will serve on the Board's Audit Committee, bringing extensive finance experience in the electric power industry. She currently serves as an independent director at Clearway Energy and MYR Group, and previously held the position of VP of Risk, Treasury, and Corporate Finance at McCormick & Company until July 2021. Her 25-year energy sector experience includes executive roles at Exelon , Constellation Energy, AES , and Cogentrix Energy Group.

TPI Composites (Nasdaq: TPIC) has announced the date for its third quarter 2024 earnings release. The company will disclose its financial results on Thursday, November 7, 2024, after the market closes. This will be followed by a conference call at 5:00 p.m. Eastern Time on the same day.

Interested parties can access the call by dialing 1-800-343-4849 (US) or 1-203-518-9843 (international), using the Conference ID 'TPIC'. A replay will be available for two weeks, accessible by dialing 1-844-512-2921 (US) or 1-412-317-6671 (international) with passcode 11157090. Additionally, a simultaneous webcast will be available on the Investor Relations section of TPI's website.

TPI Composites (Nasdaq: TPIC) has announced its collaboration with the University of Texas at Dallas to develop a smart 'digital twin' for optimizing the composite curing process in wind blade manufacturing. The project, funded by the Office of Energy Efficiency & Renewable Energy, aims to apply physics-informed machine learning algorithms to simulate and optimize the curing process through multi-zone temperature control.

The digital twin will use inputs such as spatial and temporal process characteristics and material properties to guide the manufacturing process by providing optimal temperature profiles. Real-time sensor data will be used to adjust thermal loads in multiple heating zones based on the optimal cure trajectory identified by the surrogate digital twin.

This collaboration is expected to accelerate the transition of ML-based modeling tools from academia to industrial applications, potentially leading to cost savings and performance improvements in composite manufacturing.

TPI Composites (TPIC) reported Q2 2024 financial results, showing a 17.2% decrease in net sales to $309.8 million. The company posted a net loss of $61.5 million, an improvement from $74.3 million loss in Q2 2023. Adjusted EBITDA was a loss of $24.9 million, better than the $33.3 million loss last year. TPI completed the divestiture of its Automotive business and closed the Nordex Matamoros plant, two loss-making operations. The company is narrowing its 2024 adjusted EBITDA guidance to approximately 1% due to Nordex Matamoros plant closure costs. Despite challenges, TPI remains positioned for recovery in H2 2024, focusing on cost control and productivity improvements.

TPI Composites, Inc. (Nasdaq: TPIC) has announced its schedule for releasing second quarter 2024 financial results. The company will disclose its earnings after the market closes on Thursday, August 8, 2024, followed by a conference call at 5:00 p.m. Eastern Time. Investors can access the call by dialing 1-800-343-4136 (US) or 1-203-518-9843 (international) with the Conference ID 'TPIC'. A replay will be available until August 22, 2024, accessible via 1-844-512-2921 (US) or 1-412-317-6671 (international) using passcode 11156386. Additionally, a simultaneous webcast will be available on the Investor Relations section of TPI's website.

TPI Composites (Nasdaq: TPIC) announced a definitive agreement to divest its automotive business unit to Clear Creek Investments (CCI). This divestiture, expected to close on June 30, 2024, will result in the automotive subsidiary being renamed Senvias. The transaction is projected to enhance TPI's monthly cash flow by approximately $1.7 million for the remaining months of 2024. TPI's President and CEO, Bill Siwek, emphasized that this move aligns with their strategy to focus on their core wind business, achieve profitability, and drive long-term shareholder value. CCI's Managing Partner, Todd Crescenzo, expressed enthusiasm about supporting Senvias in driving climate solutions and sustainability in the electric vehicle market.

TPI Composites (NASDAQ: TPIC) has announced its involvement in the Kenworth SuperTruck 2 project, showcased at the Advanced Clean Transportation Expo in Las Vegas. TPI engineered and manufactured an all-composite cab for the truck, achieving a 20% weight reduction compared to traditional metallic cabs. This innovation aims to enhance aerodynamics and improve freight efficiency. The SuperTruck 2 project, a collaboration between the U.S. Department of Energy and PACCAR (Kenworth's parent company), seeks to boost sustainability in the trucking industry. TPI's composite materials offer significant benefits, including faster market readiness and lower production costs, while enhancing fuel efficiency in both diesel and electric vehicles.

TPI Composites, Inc. partners with the University of Maine and Oak Ridge National Laboratory to use a large 3D printer for wind turbine tooling. The project aims to improve manufacturing efficiency and reduce costs. The printer can produce tooling at a high speed and precision, incorporating 3D-printed heating elements for uniform mold temperatures. TPI will fabricate composite components from the printed tooling assembly, enabling cost-effective transportation and assembly of wind blade molding systems worldwide. The initiative emphasizes sustainability and innovation in the wind energy industry.

TPI Composites, Inc. reported Q1 2024 earnings in line with expectations, anticipating a stronger second half. Sales were impacted by production line startups, with a focus on wind market growth. Initiatives to support renewable energy are boosting OEM backlogs. Financial results showed a decrease in net sales and adjusted EBITDA. Despite challenges, the company remains optimistic about market recovery and sustainability efforts.