secwatch.observer — SEC 8-K summary
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Issuer:     TPI COMPOSITES, INC (TPICQ)
CIK:        0001455684
Form:       8-K
Filed at:   2022-11-03T23:59:59+00:00
Accession:  0001171843-22-007071
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TPI Q3 net loss $1.5M, Adj EBITDA $16.4M; plans China plant closure, strategic deals with Vestas, GE
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- Net sales $459.3M (-4.2% YoY); net loss improved to $1.5M from $30.7M; diluted EPS -$0.39.
- Adjusted EBITDA $16.4M vs $0.2M a year ago; margin 3.6%.
- Cash $129.1M; net cash $67M, down from $167.5M at Dec 2021; free cash flow -$29.4M.
- Plans to cease production at Yangzhou, China in Dec 2022; expects material restructuring charges in Q4.
- Agreed in principle to long-term global framework with Vestas, GE Newton lease extension, and GE Mexico extension.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1455684/000117184322007071/0001171843-22-007071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1455684/000117184322007071/f8k_110322.htm
  HTML page:      https://secwatch.observer/filing/0001171843-22-007071

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