secwatch.observer — SEC 8-K summary
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Issuer:     TPI COMPOSITES, INC (TPICQ)
CIK:        0001455684
Form:       8-K
Filed at:   2022-05-05T23:59:59+00:00
Accession:  0001171843-22-003325
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TPI Composites Q1 net loss widens to $29.9M; revenue down 5% YoY
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- Net sales $384.9M, down 4.9% YoY; net loss to common $29.9M vs loss $1.8M YoY (diluted EPS -$0.71 vs -$0.05).
- Adjusted EBITDA $6.1M, margin 1.6%, down from $13.1M and 3.2% in Q1 2021.
- Blade sets produced 602, down 26% YoY; utilization 65% vs 77%.
- Reiterates 2022 guidance: 43 lines, 3,710 set capacity, util 80-85%, avg price $170k-$180k per blade, capex $25-30M.
- Cash and equivalents $130.9M, down $111M from year-end; net cash $79.2M vs $167.5M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1455684/000117184322003325/0001171843-22-003325-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1455684/000117184322003325/f8k_050522.htm
  HTML page:      https://secwatch.observer/filing/0001171843-22-003325

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer