secwatch.observer — SEC 8-K summary
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Issuer:     TPI COMPOSITES, INC (TPICQ)
CIK:        0001455684
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001171843-23-006675
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1455684/000117184323006675/0001171843-23-006675-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1455684/000117184323006675/f8k_110223.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-006675

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