secwatch.observer — SEC 8-K summary
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Issuer:     TPI COMPOSITES, INC (TPICQ)
CIK:        0001455684
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001171843-24-002492
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 $61.8M, revenue down 26%; reaffirms FY2024 guidance
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- Net sales $299.1M, down 26.0% YoY; net loss from continuing ops $61.8M vs $30.3M loss in Q1 2023.
- Adjusted EBITDA loss $23.0M vs positive $8.4M prior year; margin -7.7% versus +2.1%.
- Reaffirms FY2024 guidance: net sales $1.3B-$1.4B, adj. EBITDA margin 1%-3%, utilization 75-80% on 34 lines.
- Ended Q1 with $117M cash; line startups/transitions on track with 6 of 10 scheduled lines in production.
- Wind blade sets produced 488 (down 25% YoY); utilization fell to 67% from 84%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1455684/000117184324002492/0001171843-24-002492-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1455684/000117184324002492/f8k_050224.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-002492

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