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Jun 30, 2022
TPI Composites Q2 2022 Earnings Report
Operational improvements and cost reduction actions delivered strong net cash flow from operations and free cash flow.
Key Takeaways
TPI Composites reported a decrease in net sales by 1.4% to $452.4 million compared to the same period in 2021. The company's efforts in Q2 drove utilization to 84% and generated $19.4 million of free cash flow. Net loss attributable to common stockholders for the quarter was $20.1 million, compared to a net loss of $39.8 million in the same period in 2021.
Net sales decreased by 1.4% to $452.4 million compared to the same period in 2021.
Net loss before preferred stock dividends and accretion improved from a loss of $39.8 million to a loss of $5.5 million.
Net loss per common share was $0.48, compared to net loss per common share of $1.08 for the same period in 2021.
Free cash flow was $19.4 million for the quarter.
Forward Guidance
Guidance for the full year ending December 31, 2022:
Historical Earnings Impact
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Avg. Return Before/After Earnings
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