TPI Composites Q1 net loss widens to $37.3M; sales up 17.6% to $404M

TPI COMPOSITES, INC

2023-Q1 EPS reported -$0.88 revenue$404,066,000

Net loss attributable to common stockholders $37.3M ($0.88 per share) vs $29.9M loss a year ago.
Net sales up 17.6% to $404.1M; wind blade sets produced up 20%, utilization 84%.
Adjusted EBITDA improved to $8.4M from $6.1M; issued $132.5M of 5.25% green convertible notes.
2023 guidance: net sales $1.6B-$1.7B, adjusted EBITDA low single-digit; capex raised to $40M-$45M.
Operating cash used $83.9M, driven by China shutdown costs and contract asset growth.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TPI COMPOSITES, INC reported financial results for the first quarter ended March 31, 2023.

Period: the first quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On May 3, 2023, TPI Composites, Inc. (the Company) issued a press release announcing its financial results for the three months ended March 31, 2023.

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Source: SEC EDGAR

accession 0001171843-23-002820

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