TPI Composites, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:12 pm EDT
Share
TPI Composites, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 372.86 million compared to USD 384.44 million a year ago. Net loss was USD 56.71 million compared to USD 12.11 million a year ago. Basic loss per share from continuing operations was USD 1.71 compared to USD 0.52 a year ago. Diluted loss per share from continuing operations was USD 1.71 compared to USD 0.52 a year ago. Basic loss per share was USD 1.71 compared to USD 0.39 a year ago. Diluted loss per share was USD 1.71 compared to USD 0.39 a year ago.
For the nine months, sales was USD 1,158.2 million compared to USD 1,120.47 million a year ago. Net loss was USD 129.99 million compared to USD 35.02 million a year ago. Basic loss per share from continuing operations was USD 4.33 compared to USD 1.73 a year ago. Diluted loss per share from continuing operations was USD 4.33 compared to USD 1.73 a year ago. Basic loss per share was USD 4.5 compared to USD 1.58 a year ago. Diluted loss per share was USD 4.5 compared to USD 1.58 a year ago.
TPI Composites, Inc. is a manufacturer of composite wind blades for the wind energy market. The Companyâs geographic segments include the United States, Mexico, Europe, the Middle East and Africa and India. It enables wind turbine original equipment manufacturers (OEM) to outsource the manufacturing of a portion of their wind blades through its global footprint of advanced manufacturing facilities strategically located to serve wind markets. It also provides field service inspection and repair services to its OEM customers and wind farm owners and operators. Its field service inspection and repair services include diagnostic, repair and maintenance service offerings for wind blades that have been installed on wind turbines located at wind farms. It has produced precision molding and assembly systems, ranging from 30 meters to over 80 meters in length, to support its global operations. Its tooling solutions include precision wind blade patterns, precision molding and assembly systems.
TPI COMPOSITES, INC. 
