Tpi Composites Stock Price, News & Analysis

TPI Composites, Inc. (Nasdaq: TPIC) announced the addition of Bavan Holloway to its board of directors, effective September 8, 2020. Holloway brings over 30 years of finance and audit experience, previously serving as Vice President of Corporate Audit at Boeing. TPI's Chairman, Steven Lockard, expressed confidence that Holloway's expertise will support the company’s strategy for diversified, profitable global growth. TPI is the only independent manufacturer of composite wind blades and operates globally, with facilities in the U.S., China, Mexico, Turkey, and India.

TPI Composites (Nasdaq: TPIC) announced the appointment of Linda Hudson to its board of directors, effective August 11, 2020. Ms. Hudson will also participate in the Nominating and Corporate Governance Committee and Technology Committee. With over 35 years of experience in global operations, her leadership aims to support TPI's strategy for diversified, profitable growth. Previously CEO of The Cardea Group and BAE Systems, she brings extensive expertise to enhance the company’s operational effectiveness.

TPI Composites reported Q2 2020 financial results with net sales of $373.8 million, a 13% increase year-over-year, despite pandemic challenges. However, the company faced a net loss of $66.1 million or $(1.87) per share, impacted by COVID-19 related costs and lower production capacity. Adjusted EBITDA dropped to $3.3 million from $23.4 million in Q2 2019. Positive developments included extended supply agreements with GE and a new agreement with Nordex, adding approximately $800 million in potential contract value. Liquidity stood at $138.4 million.

TPI Composites, Inc. (Nasdaq: TPIC) has appointed James Hilderhoff as Chief Commercial Officer, effective August 3, 2020. Hilderhoff brings over 35 years of experience from leadership roles in the transportation and power sectors, most recently with Wabtec Corporation. His background includes significant positions at General Electric Company, enhancing TPI's capability in wind and strategic markets. CEO Bill Siwek expressed enthusiasm for Hilderhoff's expertise in international business development, anticipating growth for TPI in the wind energy sector.

TPI Composites, Inc. (Nasdaq: TPIC) announced its participation in two upcoming investor conferences. The 40th Annual Canaccord Growth Conference is scheduled for August 13, 2020, where TPI will present at 1:30 p.m. Eastern Time. Following this, TPI will attend the UBS Renewables and Energy Transition Conference on September 15-16, 2020. TPI is recognized as the only independent manufacturer of composite wind blades in the wind energy sector, with a robust global presence, including manufacturing facilities in the U.S., China, Mexico, Turkey, and India.

TPI Composites, Inc. (Nasdaq: TPIC) announced the release of its second quarter 2020 results scheduled for August 6, 2020, post-market close. A conference call will follow at 5:00 p.m. (Eastern Time) the same day. Investors can participate by calling 1-855-327-6837 for U.S. callers or 1-631-891-4304 for international participants. A replay will be available post-call, and the event can also be accessed via the company's website. TPI is known as a leading independent manufacturer of composite wind blades, with a global footprint and strong relationships in the wind and transportation sectors.

TPI Composites, Inc. (Nasdaq: TPIC) will participate in several upcoming virtual investor conferences. Key dates include the 17th Annual Craig Hallum Conference on May 27, the UBS Global Industrials Conference on June 2, and a fireside chat at the Cowen Summit on June 3 at 1:00 p.m. ET. Additional events are scheduled for June 9 and June 17, followed by the ROTH Virtual London Conference on June 24-25, 2019. TPI, headquartered in Scottsdale, Arizona, is a leading independent manufacturer of composite wind blades for the global wind energy market.

TPI Composites (Nasdaq: TPIC) reported a 19% increase in net sales to $356.6 million for Q1 2020, despite COVID-19 disruptions. The company incurred a net loss of $0.5 million or $0.01 per share, a significant improvement over the $12.1 million loss in Q1 2019. Adjusted EBITDA declined to $1.3 million, impacted by an $11 million reduction due to halted production in China. TPI maintains liquidity of $188 million and aims for stability amidst ongoing pandemic challenges. Despite short-term hurdles, demand for wind energy remains strong, paving the way for future growth.

TPI Composites, Inc. (Nasdaq: TPIC) has announced a shift to a virtual format for its 2020 Annual Meeting of Stockholders due to COVID-19 health concerns. Scheduled for May 20, 2020, at 1:00 p.m. Arizona time, stockholders must participate online as in-person attendance is not permitted. Only those who were stockholders as of March 23, 2020, can attend or vote. Proxy materials will remain unchanged despite the format change, and stockholders are encouraged to vote in advance.