TPI Composites Q4 2023 net income $11.6M, guides 2024 adjusted EBITDA margin 1-3%

TPI COMPOSITES, INC

2023-FY EPS reported -$4.16 revenue$1,455,183,000

Q4 2023 net sales $297.0M (down 26.2% YoY); net income $11.6M vs loss $41.9M in Q4 2022.
Adjusted EBITDA loss $28.1M in Q4 2023 vs gain $21.2M in Q4 2022; full-year loss $85.9M.
Refinanced Oaktree's Series A Preferred into senior secured term loan, adding ~$190M liquidity and reducing up to $90M in future obligations.
Extended and expanded supply agreements with Nordex in Turkey and GE Vernova in Mexico during Q4.
2024 guidance: net sales $1.3-1.4B, adjusted EBITDA margin 1-3%, utilization 75-80%, capex $25-30M.

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 0.92

TPI COMPOSITES, INC reported the fourth quarter and full year ended December 31, 2023 results: revenue $297.0 million, net income $11.6 million, EPS $0.27.

Period: the fourth quarter and full year ended December 31, 2023
Revenue: $297.0 million
Net income: $11.6 million
EPS: $0.27
Result: reported results

Exact text from the filing

industry, we believe we are in excellent position to deliver for our customers and shareholders.” Fourth Quarter 2023 Results and Recent Business Highlights Net Sales totaled $297.0 million for the three months ended December 31, 2023, a decrease of 26.2% over the same period last year. Net Income from continuing operations attributable to common stockholders was

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Source: SEC EDGAR

accession 0001171843-24-000913

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