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Mar 31, 2024
TPI Composites Q1 2024 Earnings Report
Reported financial results inline with company expectations.
Key Takeaways
TPI Composites reported a decrease in net sales for the first quarter of 2024 to $299.1 million, compared to $404.1 million in the same period in 2023. The net loss from continuing operations was $61.8 million, compared to a loss of $30.3 million in the same period in 2023. Adjusted EBITDA was a loss of $23.0 million, compared to an adjusted EBITDA of $8.4 million during the same period in 2023.
Sales and adjusted EBITDA were impacted by the timing of production line startups and transitions.
The company is partnering with customers to align factories to support their next generation blade models.
TPI ended the quarter with $117 million of cash.
The company expects a return to mid-single digit adjusted EBITDA margins and positive free cash flow in the second half of 2024.
Revenue by Segment
Forward Guidance
TPI Composites has reiterated its full year 2024 financial guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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