TPI Composites Q3 loss deepens; FY23 sales guidance cut to ~$1.5B, EBITDA margin loss ~5%

TPI COMPOSITES, INC

2023-Q3 EPS reported -$4.50 revenue$1,158,197,000

Net loss from continuing ops $72.8M ($1.71/sh) vs loss $21.8M in Q3 2022.
Adjusted EBITDA loss $27.4M, down from $5.1M; $22.6M Proterra bankruptcy charge and $13.5M warranty charge.
Net sales $372.9M (-3% YoY); wind blades +1.8% to $362.2M, automotive -75% to $2.6M.
FY23 guidance cut: net sales ~$1.5B (from $1.525-1.575B); adj EBITDA margin loss ~5% (from loss 2-3%).
Unrestricted cash $160.6M; Q3 free cash flow use $20.8M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TPI COMPOSITES, INC reported the three months ended September 30, 2023 results: revenue $372.9 million, net income $72.8 million, EPS $1.71.

Period: the three months ended September 30, 2023
Revenue: $372.9 million
Net income: $72.8 million
EPS: $1.71
Result: reported results

Exact text from the filing

the globe and we are ready and look forward to increasing our role when the wind market turns for the better.” Third Quarter 2023 Continuing Operations Results Net Sales totaled $372.9 million for the three months ended September 30, 2023, a decrease of 3.0% over the same period last year Net loss from continuing operations attributable to common stockholders was $72.8

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Source: SEC EDGAR

accession 0001171843-23-006675

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