TPICQ
TPI Composites, Inc.0.0210
-0.0040-16%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
1.02MP/E (TTM)
-Basic EPS (TTM)
-5.53Dividend Yield
0%Recent Filings
10-K
FY2025 results
TPI Composites filed Chapter 11 on August 11, 2025, to restructure amid liquidity woes, with FY2025 net sales up 3.2% to $918M from $890M yet gross loss widened to 12.0% of sales from 8.1% as Mexico production faltered from supply snarls and safety halts post-petition. Q4 bore the brunt with CBP import blocks slashing U.S. deliveries while Iowa restarted mid-year, but margins eroded under wage hikes and liquidated damages. Cash burned $126M in operations; DIP drew $24M by year-end. Backlog crashed to $115M from $238M. Bankruptcy proceedings threaten quarterly output.
8-K
TPI sells wind ops to ECP
TPI Composites signed a stock and asset purchase agreement on March 6, 2026, to sell its core wind blade manufacturing operations in the US and Mexico—plus related services and engineering centers—to ECP Blade Holdings for $20M cash, subject to adjustments, during its Chapter 11 case filed August 11, 2025. Closing hinges on Bankruptcy Court approval, production milestones, Oaktree lien releases, and government nods, with a June 30 deadline. Deal sheds TPI's main assets; risks abound if milestones slip.
8-K
TPI sells India assets, restructures Mexico
TPI Composites signed deals with Vestas on March 4, 2026, to sell its India blade manufacturing assets for $10M cash and restructure its Mexico operations via a $14M equity investment in TPI Mexico V/VI entities, both pending bankruptcy court approval by June 30. These moves monetize key facilities amid chapter 11 proceedings initiated August 2025, while a DIP credit default triggered higher interest. Buyers must fund advances until closing.
10-Q
Q3 FY2025 results
TPI Composites posted Q3 net sales of $234.4M, down 9.6% y/y from $259.2M yet up sharply q/q (derived), as Mexico volumes held despite supply hiccups post-bankruptcy filing on August 11. Gross loss hit $46.5M on liquidated damages and startup costs, swinging margins negative while operating loss deepened to $80.4M from $18.7M y/y, fueled by $23.4M restructuring and $13.4M reorganization items; net loss from continuing ops reached $116.2M or $(2.39) diluted EPS, confirmed vs 48.7M shares. Cash dwindled to $29.5M with $114.8M YTD operating burn, offset by $7.5M DIP tranche 1 plus $15M roll-up for $23.1M total DIP; all $435M debt now current. Sold Türkiye ops September 10 on as-is basis, shedding bulk of EMEA. Bankruptcy proceedings drag on.
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