Tpi Composites Stock Price, News & Analysis

TPI Composites, Inc. (NASDAQ: TPIC) is a manufacturing company focused on composite products for the wind energy market. According to company disclosures, TPI Composites is a global business that concentrates on solutions intended to help decarbonize and electrify the world. The company works with original equipment manufacturers (OEMs) in the wind markets and has long-term relationships with these customers.

TPI Composites is headquartered in Scottsdale, Arizona. The company reports that it operates factories in the U.S., Mexico, Türkiye and India. In addition, it maintains engineering development centers in Denmark and Germany and global service training centers in the U.S. and Spain, and in some disclosures also notes service training centers in France and the United Kingdom. Earlier descriptions characterize TPI as the largest U.S.-based independent manufacturer of composite wind blades, with operations in North America, Europe and Asia and experience in large-scale composite structures.

The company describes its core activity as delivering composite solutions for wind markets. It highlights the manufacture of composite wind blades and related wind products, and notes that its products are used where high strength, light weight and durability are required. TPI Composites states that it has developed advanced composites manufacturing technology that allows it to produce large composite parts at industrial prices, while approaching aerospace-grade performance standards.

In public communications, TPI Composites emphasizes that it delivers high-quality, cost-effective composite solutions through long-term relationships with leading OEMs in the wind markets. The company has also reported that its advanced composite technology and manufacturing expertise have been applied to composite solutions in transportation markets. Over multiple decades, TPI Composites has built experience in manufacturing large composite structures and reports a history of innovation in this area.

Company updates show that TPI Composites is active in the global wind energy supply chain. It reports manufacturing wind blades and related tooling and providing other wind-related sales. The company also discloses field service, inspection and repair services for wind-related equipment. TPI Composites has announced that it reached the production milestone of its 100,000th wind blade since 2001, which it presents as evidence of its long-term participation in the wind energy industry.

In addition to manufacturing, TPI Composites participates in industry and educational initiatives related to wind energy. For example, the company has announced sponsorship of the wind tunnel competition at the World KidWind Challenge at the American Clean Power Association’s CLEANPOWER Conference. In describing this sponsorship, TPI Composites connects its business to efforts to support education in renewable energy and the development of future talent in wind technology.

The company has also reported significant changes in its operational and financial structure. TPI Composites disclosed that it divested an automotive business, shut down certain facilities, and restructured its manufacturing footprint in response to market conditions in its wind energy markets. It has described transitions to next-generation wind blade models and adjustments to manufacturing lines in locations such as Mexico and Türkiye, as well as changes in utilization levels of its installed manufacturing lines.

Financial restructuring and Chapter 11 proceedings

According to a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (SEC), on August 11, 2025 TPI Composites, Inc. and certain of its direct and indirect subsidiaries each filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code in the U.S. Bankruptcy Court for the Southern District of Texas. The filing states that the chapter 11 cases were initiated to facilitate a financial and operational restructuring of the company’s business and balance sheet.

The company reports that, during the chapter 11 process, it is operating its business as a debtor-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with the Bankruptcy Code and court orders. TPI Composites has disclosed that its restructuring is supported by the use of cash collateral and a debtor-in-possession (DIP) financing facility. The company entered into a Super-Priority Senior Secured Priming Debtor-in-Possession Credit Agreement and Guaranty with Oaktree Fund Administration, LLC as administrative agent and DIP lenders, providing a multiple-draw term loan facility up to an aggregate principal amount of $82.5 million, subject to court approval and conditions.

The same SEC filing notes that the commencement of the chapter 11 cases constituted events of default under TPI Composites’ existing senior secured term loan and its 5.25% Convertible Senior Unsecured Notes, accelerating those obligations. The company further discloses that the chapter 11 filing triggered events of default under its Türkiye unsecured credit facilities, and that lenders under those facilities blocked access to a significant portion of cash held in Turkish bank accounts. TPI Composites states that it expects debts under the Turkish unsecured credit facilities to be addressed in connection with a liquidation of Turkish assets.

In a separate Form 8-K, the company reports that, based on present facts and circumstances, it expects its senior secured lenders, comprised of funds affiliated with funds managed by Oaktree Capital Management, L.P., to become the new owners of the reorganized company following emergence from the chapter 11 cases. The company also states that it expects holders of its common stock will not receive distributions in the chapter 11 cases and that its equity will be canceled under a chapter 11 plan. TPI Composites has cautioned that trading in its common stock during the chapter 11 process is highly speculative and subject to substantial risks.

Listing status and trading of TPIC stock

In an August 15, 2025 Form 8-K, TPI Composites reports that on August 12, 2025 it received a letter from The Nasdaq Stock Market LLC indicating that Nasdaq staff had determined that the company’s common stock would be delisted from Nasdaq in accordance with specified listing rules as a result of the commencement of the chapter 11 cases. The company states that it does not intend to appeal this determination. The filing notes that trading of the company’s common stock on Nasdaq will be suspended at the opening of business on August 19, 2025, and that the company expects its common stock to be delisted from the Nasdaq Global Market and begin trading in the over-the-counter market.

TPI Composites has also filed a Form 8-K describing a binding term sheet for the sale of its ownership interests in two subsidiaries in Türkiye, with closing subject to various conditions including Bankruptcy Court approval in connection with the chapter 11 cases. The company indicates that the purchaser will assume the entire liability and debt position of the target companies on an as-is basis, subject to specified exclusions and releases.

Business operations and segments

In its earnings releases, TPI Composites describes two primary categories of activity from continuing operations: (1) wind blades, tooling and other wind-related sales, which it refers to as “Wind,” and (2) field service, inspection and repair services, referred to as “Field Services.” The company reports net sales, utilization of manufacturing lines, numbers of wind blade sets produced, and estimated megawatts of energy capacity associated with wind blade production. It also provides non-GAAP measures such as EBITDA and adjusted EBITDA, along with explanations of how these measures are defined and why management believes they are useful.

The company has disclosed that it has transitioned multiple manufacturing lines to next-generation wind blade models and has restarted production at previously idled facilities, including in Juarez, Mexico. It has also reported the shutdown of certain facilities, such as the Nordex Matamoros plant, and changes in volumes in regions such as Türkiye and India based on market activity levels. TPI Composites has described cost savings initiatives, restructuring charges, and changes in warranty-related costs as factors affecting its financial results.

Role in the wind energy industry

Across its public statements, TPI Composites positions itself as a participant in the global wind energy supply chain through the manufacture of composite wind blades and related services. The company links its activities to broader themes of decarbonization and electrification, noting that its blades are used in wind turbines that generate electricity. It emphasizes long-term relationships with OEMs in the wind markets and the use of advanced composite manufacturing processes to produce large, high-strength, and durable components.

TPI Composites’ disclosures indicate that its operations span multiple regions, with manufacturing, engineering, and service training facilities in several countries. Its reported production milestone of 100,000 wind blades since 2001 underscores the scale of its historical participation in the wind energy market. At the same time, the company’s chapter 11 filings and restructuring activities show that it is undergoing significant financial and operational changes that may affect its capital structure, ownership, and geographic footprint.