Tpi Composites Stock Price, News & Analysis

TPI Composites, Inc. (TPIC) will release its fourth quarter and full year 2021 results after market close on February 24, 2022. The subsequent conference call is scheduled for 5:00 p.m. ET on the same day. Investors can access the call via phone or listen to a live webcast on TPI's Investor Relations website. TPI is known for being the only independent manufacturer of composite wind blades with a global footprint, partnering with leading OEMs in the wind and transportation sectors.

TPI Composites (Nasdaq: TPIC) reported Q3 2021 results with net sales of $479.6 million, a 1.2% increase from Q3 2020, but a net loss of $30.7 million or $(0.83) per diluted share. Adjusted EBITDA was $0.2 million, declining from $49.1 million in Q3 2020. Challenges included production delays at its Mexican facilities and a 20% decrease in wind blade production volume. TPI announced a $400 million stock purchase agreement with Oaktree, expected to strengthen its balance sheet. The company updates 2021 guidance, projecting net sales of $1.72 billion to $1.74 billion.

TPI Composites, Inc. (Nasdaq: TPIC) has entered a stock purchase agreement to issue $400 million of Series A Preferred Stock to Oaktree Capital Management. The deal involves an initial sale of $350 million, with an option for an additional $50 million within two years. The preferred stock will yield an 11% annual dividend for two years, payable in kind. Funds will be utilized to refinance existing debt and for general corporate purposes. Oaktree will gain a board member and may invest an additional $200 million in follow-on capital, enhancing TPI's financial positioning in the renewable energy sector.

TPI Composites, Inc. (Nasdaq: TPIC) will release its Q3 2021 financial results after the market close on November 8, 2021. The company will hold a conference call at 5:00 p.m. Eastern Time on the same day to discuss the results. Investors can join the call by dialing 1-877-407-9208 or access it via the company's website. A replay will be available within two hours post-call until November 15, 2021. TPI operates as a prominent manufacturer of composite wind blades for the wind energy sector, with facilities across multiple countries.

TPI Composites, Inc. (TPIC) reported Q2 2021 net sales of $458.8 million, a 22.7% increase from Q2 2020's $373.8 million. Despite a $39.8 million net loss ($1.08 per diluted share), adjusted EBITDA rose to $17.4 million from $3.3 million year-over-year. Wind blade sales increased by 20.3% to $418.7 million. The company expects 2021 guidance of net sales between $1.75 billion to $1.80 billion and adjusted EBITDA of $70 million to $85 million. New long-term agreements were signed, enhancing growth prospects.

TPI Composites, Inc. (Nasdaq: TPIC) reported preliminary financial results for Q2 2021, with net sales estimated at $458.8 million and a net loss of $42.6 million. Adjusted EBITDA was projected at $17.4 million. The company updated its full-year guidance, estimating net sales between $1.75 billion and $1.80 billion, and Adjusted EBITDA between $70 million and $85 million, affected by increased raw material costs and decreased wind blade demand. Additionally, TPI commenced production under a new agreement with Nordex in Mexico and extended its contract with Proterra.

TPI Composites, Inc. (Nasdaq: TPIC) has appointed Jerry Lavine as President of Transportation, effective June 30, 2021. Lavine brings nearly 30 years of automotive industry experience, previously serving as Chief Technology Officer at Bordrin New Energy Vehicle and in senior roles at Magna and Ford. Bill Siwek, President and CEO of TPI, expressed optimism about Lavine's leadership, indicating it will enhance growth in the transportation sector. TPI specializes in manufacturing composite wind blades for the wind energy market and operates globally.

TPI Composites (TPIC) reported Q1 2021 net sales of $404.7 million, a 13.5% increase from Q1 2020, driven by higher wind blade production and prices. However, the company recorded a net loss of $1.8 million or $0.05 per diluted share. Adjusted EBITDA rose to $13.1 million, with a margin of 3.2%. Despite challenges including supply chain issues, TPI's operational strategy and increased demand for renewable energy present a favorable outlook. The full-year guidance is reaffirmed at $1.75 billion to $1.85 billion in net sales.

TPI Composites, Inc. (Nasdaq: TPIC) will release its Q1 2021 results after market close on May 6, 2021, with a conference call at 5:00 p.m. Eastern Time. Investors can join via phone or a webcast on the company's website. TPI is a leading independent manufacturer of composite wind blades for the wind energy sector, operating factories globally in regions including the U.S., China, and Mexico. The company is dedicated to providing high-quality composite solutions to OEMs in the wind and transportation markets.