TPI Composites Q2 net loss widens to $80.8M; cuts 2023 sales guidance to $1.525-1.575B

TPI COMPOSITES, INC

2023-Q2 EPS reported -$2.79 revenue$785,337,000

Q2 net loss from continuing ops $80.8M ($1.90/share) vs $25.3M loss YoY.
Adjusted EBITDA loss of $38.9M, reversing $5.6M positive in Q2 2022.
Revenue down 2.9% to $381.3M; blade sets produced 661 vs 675.
Full-year 2023 sales guidance cut to $1.525-1.575B; adjusted EBITDA margin expected < -1%.
Agreed in principle to add four GE blade lines in Juarez; quarterly cash balance $170M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TPI COMPOSITES, INC reported second quarter ended June 30, 2023 results: revenue $381.3 million, net income $80.8 million, EPS $1.90.

Period: second quarter ended June 30, 2023
Revenue: $381.3 million
Net income: $80.8 million
EPS: $1.90
Result: reported results

Exact text from the filing

to navigate the near-term headwinds and put us on a path to achieve our sales and adjusted EBITDA targets.” Second Quarter 2023 Continuing Operations Results Net Sales totaled $381 million for the three months ended June 30, 2023, a decrease of 2.9% over the same period last year Net loss from continuing operations attributable to common stockholders was $80.8

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Source: SEC EDGAR

accession 0001171843-23-004977

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