secwatch.observer — SEC 8-K summary
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Issuer:     TPI COMPOSITES, INC (TPICQ)
CIK:        0001455684
Form:       8-K
Filed at:   2023-02-22T23:59:59+00:00
Accession:  0001171843-23-001097
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TPI Composites Q4 net loss $57.8M, adj. EBITDA $40.8M; China shutdown, FY2023 sales guidance $1.6-1.7B
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- Q4 net sales from continuing and discontinued ops $461.8M (+18.6% YoY); net loss attributable to common $57.8M ($1.38 loss per share).
- Full year 2022 net sales $1.76B (+1.5% YoY); net loss $124.2M ($2.96 loss per share); adjusted EBITDA $73.6M vs $2.4M in 2021.
- Ceased production at Yangzhou, China facility as of Dec 31, 2022; restructuring plan to shut down China operations.
- Extended supply agreements with ENERCON through 2025, GE through 2025, and agreed long-term framework with Vestas; Nordex extension and new India lines.
- FY2023 guidance: net sales from continuing ops $1.6-1.7B, adjusted EBITDA margin low single-digit, utilization 85-90%, capex ~$25M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1455684/000117184323001097/0001171843-23-001097-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1455684/000117184323001097/f8k_022223.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-001097

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