earnings
confidence high
sentiment neutral
materiality 0.70
TPI Composites Q3 net sales $380.8M, Adj EBITDA $8.0M; guides FY net sales ~$1.35B, EBITDA margin loss ~2%
TPI COMPOSITES, INC
2024-Q3 EPS
reported -$4.06
vs consensus -$0.15
▼ miss
(-2576.3%)
- Net sales $380.8M (+2.8% YoY); net loss from cont ops $38.6M vs $43.0M loss prior year.
- Adjusted EBITDA improved to $8.0M from $0.2M; margin 2.1% vs 0.1%.
- Guidance: FY net sales ~$1.35B, Adj EBITDA margin loss ~(2%) (previous guided ~1%).
- Seven of ten lines in startup/transition achieved full rate production; Newton, IA plant to reopen mid-2025 with GE Vernova.
- Unrestricted cash $126M; expect Q4 strongest free cash flow quarter.