secwatch.observer — SEC 8-K summary
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Issuer:     TPI COMPOSITES, INC (TPICQ)
CIK:        0001455684
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001171843-23-002820
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 $37.3M; sales up 17.6% to $404M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1455684/000117184323002820/0001171843-23-002820-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1455684/000117184323002820/f8k_050323.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-002820

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