Welcome to our dedicated page for TPI Composites news (Ticker: TPIC), a resource for investors and traders seeking the latest updates and insights on TPI Composites stock.
TPI Composites, Inc. (Nasdaq: TPIC) is the largest independent manufacturer of composite wind blades in the United States. With over five decades of expertise in the industry, TPI specializes in producing high-strength, lightweight, and durable composite structures for the wind energy market. The company operates manufacturing facilities in North America, Europe, and Asia, and maintains engineering development centers in Denmark and Germany, along with global service training centers in the U.S. and Spain.
TPI's core business involves the manufacturing of composite wind blades, primarily supporting global wind turbine manufacturers. Their advanced composite technology allows them to build near aerospace-grade parts at industrial prices, offering competitive and high-quality products. In addition to wind energy, TPI serves the transportation industry, manufacturing composite structures for buses, rail, theme parks, and trucks.
Recently, TPI expanded its partnership with Nordex in Türkiye, enhancing their decade-long collaboration to deliver cost-effective solutions for the European market. They have also deepened their relationship with GE Vernova, further cementing their position in the U.S. wind market.
In an innovative move, TPI has partnered with the University of Maine Advanced Structures and Composites Center and Oak Ridge National Laboratory to utilize one of the world's largest 3D printers for producing wind turbine tooling. This initiative aims to reduce manufacturing costs and improve production efficiency.
TPI has been making significant strides in financial performance as well. The company reported a net income of $11.6 million for Q4 2023, a turnaround from a loss of $41.9 million in the same period in 2022. This financial recovery was bolstered by a gain on extinguishment of debt associated with refinancing their Series A Preferred Stock.
Moreover, TPI has contributed to the Kenworth SuperTruck 2 program, showcasing an all-composite cab that offers significant weight reduction and improved aerodynamics. This project aligns with TPI's commitment to sustainable and innovative solutions in the transportation sector.
Overall, TPI Composites continues to leverage its advanced composite manufacturing technology and expertise to deliver sustainable solutions for the wind and transportation markets, aiming to decarbonize and electrify the world.
TPI Composites, Inc. (Nasdaq: TPIC) has appointed Jerry Lavine as President of Transportation, effective June 30, 2021. Lavine brings nearly 30 years of automotive industry experience, previously serving as Chief Technology Officer at Bordrin New Energy Vehicle and in senior roles at Magna and Ford. Bill Siwek, President and CEO of TPI, expressed optimism about Lavine's leadership, indicating it will enhance growth in the transportation sector. TPI specializes in manufacturing composite wind blades for the wind energy market and operates globally.
TPI Composites (TPIC) reported Q1 2021 net sales of $404.7 million, a 13.5% increase from Q1 2020, driven by higher wind blade production and prices. However, the company recorded a net loss of $1.8 million or $0.05 per diluted share. Adjusted EBITDA rose to $13.1 million, with a margin of 3.2%. Despite challenges including supply chain issues, TPI's operational strategy and increased demand for renewable energy present a favorable outlook. The full-year guidance is reaffirmed at $1.75 billion to $1.85 billion in net sales.
TPI Composites, Inc. (Nasdaq: TPIC) will release its Q1 2021 results after market close on May 6, 2021, with a conference call at 5:00 p.m. Eastern Time. Investors can join via phone or a webcast on the company's website. TPI is a leading independent manufacturer of composite wind blades for the wind energy sector, operating factories globally in regions including the U.S., China, and Mexico. The company is dedicated to providing high-quality composite solutions to OEMs in the wind and transportation markets.
TPI Composites (Nasdaq: TPIC) reported strong fourth quarter results for 2020, achieving net sales of $465.6 million, a 10.3% increase, and a net income of $5.2 million or $0.14 per diluted share. The full year results showed net sales of $1,670.1 million despite a net loss of $19.0 million. Adjusted EBITDA rose to $40.8 million, with a margin expansion to 8.8%. For 2021, the company projects net sales between $1.75 billion and $1.85 billion and adjusted EBITDA of $110 million to $135 million, reflecting optimism in wind and transportation markets.
TPI Composites (Nasdaq: TPIC) announced the upcoming release of its Q4 and full-year 2020 results on February 25, 2021, following market close. A conference call will be held at 5:00 p.m. ET, accessible by phone or via a live webcast. TPI is noted as the sole independent manufacturer of composite wind blades for the wind energy sector, boasting a global manufacturing presence, including facilities in the U.S., China, and Mexico.
TPI Composites, Inc. (Nasdaq: TPIC) will participate in several upcoming investor conferences, showcasing its commitment to the renewable energy sector. The events include the Morgan Stanley Energy & Clean Tech Corporate Access Day on December 2, 2020, and the BofA Securities Renewables Symposium from December 3-4, with a presentation scheduled for December 4 at 8:45 a.m. Eastern Time. Additionally, TPI will attend the Capital One Energy Conference on December 7, 2020. TPI is recognized as the sole independent manufacturer of composite wind blades globally, operating factories across multiple countries.
TPI Composites (Nasdaq: TPIC) reported a strong third quarter on Nov. 5, 2020, with net sales of $474.1 million, up 23.5% year-over-year. The company achieved net income of $42.4 million or $1.13 per diluted share, alongside an Adjusted EBITDA of $49.1 million. Wind blade sales increased 27.8% to $450.1 million. The company anticipates Q4 2020 net sales between $435 million and $455 million and full-year guidance of $1.64 billion to $1.66 billion, despite challenges from the COVID-19 pandemic impacting production.
TPI Composites, Inc. (Nasdaq: TPIC) will participate in several upcoming virtual investor conferences. The management team will join the J.P. Morgan Virtual Energy Tour on November 9, 2020, featuring a fireside chat at 10:00 a.m. ET. Following that, they will present at the Baird Virtual Industrial Conference on November 12, 2020, at 9:40 a.m. ET. Finally, TPI will attend the Craig Hallum Alpha Select Investor Conference on November 17, 2020. TPI is a leading manufacturer of composite wind blades for the wind energy sector, with operations across several countries.
TPI Composites, Inc. (TPIC) will release its third-quarter 2020 results on November 5, 2020, after market close, followed by a conference call at 5:00 p.m. ET. Investors can access the call via phone or listen online at the company’s website. TPI is the only independent manufacturer of composite wind blades for the wind energy market, with a global presence, operating factories in various countries, and maintaining long-term relationships with leading OEMs in the wind and transportation industries.
FAQ
What is the current stock price of TPI Composites (TPIC)?
What is the market cap of TPI Composites (TPIC)?
What does TPI Composites, Inc. specialize in?
Where are TPI Composites' manufacturing facilities located?
What recent partnerships has TPI Composites announced?
What financial performance did TPI Composites report for Q4 2023?
What is the significance of TPI's partnership with the University of Maine and Oak Ridge National Laboratory?
What markets does TPI Composites serve besides wind energy?
What is TPI Composites' role in the Kenworth SuperTruck 2 program?
How does TPI Composites contribute to sustainability?
What advanced technology does TPI use in its manufacturing process?
Where is TPI Composites headquartered?
