TPI Composites Inc
NASDAQ:TPIC
TPI Composites Inc
TPI Composites, Inc. is a holding company, which engages in the manufacturing of composite wind blades for the wind energy market. The company is headquartered in Scottsdale, Arizona and currently employs 14,000 full-time employees. The company went IPO on 2016-07-22. The firm operates through five geographic operating segments: the United States, Asia, Mexico, Europe, the Middle East and Africa (EMEA) and India. The firm enables wind turbine original equipment manufacturers (OEM) to outsource the manufacturing of their wind blades through its manufacturing facilities located around the world to serve wind markets. The company also provides field service inspection and repair services to its OEM customers and wind farm owners and operators. Its field service inspection and repairs services include diagnostic, repair and maintenance service offerings for wind blades that have been installed on wind turbines located at wind farms. The firm has produced hundreds of precision molding and assembly systems, ranging from approximately 30 meters to approximately 80 meters in length, to support its global operations.
TPI Composites, Inc. is a holding company, which engages in the manufacturing of composite wind blades for the wind energy market. The company is headquartered in Scottsdale, Arizona and currently employs 14,000 full-time employees. The company went IPO on 2016-07-22. The firm operates through five geographic operating segments: the United States, Asia, Mexico, Europe, the Middle East and Africa (EMEA) and India. The firm enables wind turbine original equipment manufacturers (OEM) to outsource the manufacturing of their wind blades through its manufacturing facilities located around the world to serve wind markets. The company also provides field service inspection and repair services to its OEM customers and wind farm owners and operators. Its field service inspection and repairs services include diagnostic, repair and maintenance service offerings for wind blades that have been installed on wind turbines located at wind farms. The firm has produced hundreds of precision molding and assembly systems, ranging from approximately 30 meters to approximately 80 meters in length, to support its global operations.
Revenue Growth: TPI Composites reported Q1 revenue of $336.2 million, up 14% year-over-year, driven by strong U.S. demand and higher blade production.
Cash & Liquidity: The company ended the quarter with $172 million in cash and had positive operating cash flow of $4.6 million.
EBITDA Loss Narrows: Adjusted EBITDA loss improved to $10.3 million from a $23 million loss last year, though Q1 included a $12.7 million warranty charge and $8.4 million in start-up and transition costs.
Guidance Update: Full-year sales guidance was reiterated at $1.4–$1.5 billion, but adjusted EBITDA margin guidance was lowered to 0%–2% (from 2%–4%) due to the Q1 warranty charge and a Q2 production suspension.
Strategic Review: The board has launched a formal strategic review to optimize the capital structure, including the appointment of two new directors with M&A and restructuring experience.
NASDAQ Compliance: TPI received a notice for non-compliance with the minimum NASDAQ bid price; they have until October 29, 2025 to regain compliance.
Market Conditions: Management highlighted ongoing uncertainty from tariffs, U.S. policy changes (like the IRA), and competition in Europe and Türkiye, but sees long-term demand as strong.
