"We are proud of the progress that the automotive team has made in growing this business and developing innovative solutions for the transportation market and are confident that CCI will provide the new capital and focus to enable the Automotive business to grow and serve its customers in the electric vehicle market," added Mr. Siwek. Investor Relations 480-315-8742 investors@tpicomposites.com Forward-Looking Statements SCOTTSDALE, Ariz., June 17, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc., (TPI) (NASDAQ ...

TPI Composites, Inc. (NASDAQ:TPIC) Q1 2024 Earnings Conference Call May 3, 2024 5:00 PM ET Company Participants Jason Wegmann - Investor Relations Bill Siwek - President and Chief Executive Officer Ryan Miller - Chief Financial Officer Conference Call Participants Mark Strouse - JPMorgan Pavel Malikov - Raymond James Eric Stine - Craig Hallum Jeffrey Osborne - TD Cowen Tom Curran - Seaport Research Partners William Griffin - UBS Operator Good afternoon, and welcome to the TPI Composites First Quarter 2024 E ...

Commission File Number 001-37839 TPI Composites, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 20-1590775 (I.R.S. ...

EXHIBIT 99.1 TPI Composites, Inc. Announces First Quarter 2024 Earnings Results – Results In-line with Company Expectations; Reiterate Full Year 2024 Financial Guidance SCOTTSDALE, Ariz., May 02, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (Nasdaq: TPIC), today reported financial results for the first quarter ended March 31, 2024. "As expected, sales and adjusted EBITDA for the first quarter of 2024 were impacted by the timing of production line startups and transitions. As our customers prepare for an ex ...

Financial Data and Key Metrics Changes - In Q4 2023, net sales were $297 million, a decrease of 26.2% compared to $402.3 million in Q4 2022 [52] - Adjusted EBITDA for Q4 2023 was a loss of $28.1 million, compared to a gain of $21.2 million in Q4 2022, primarily due to lower sales and increased costs [55] - Net income attributable to common stockholders from continuing operations improved to $11.6 million in Q4 2023 from a net loss of $41.9 million in Q4 2022, driven by refinancing gains [27] Business Line Data and Key Metrics Changes - Wind sales decreased by $96.9 million in Q4 2023, a decline of 25.6% year-over-year, attributed to lower blade inventory costs and production slowdowns [52][53] - Automotive sales decreased by $7.3 million in Q4 2023, primarily due to reduced bus body deliveries linked to Proterra's bankruptcy [54] - Field services sales decreased by $1.1 million in Q4 2023 compared to the same period in 2022, impacted by fewer technicians deployed on revenue-generating projects [26] Market Data and Key Metrics Changes - The company established two new production lines in Türkiye for Nordex, increasing total capacity to approximately 3.2 gigawatts, securing production through 2026 [8] - The wind energy market is expected to see a surge in government support, particularly from the U.S. Inflation Reduction Act and EU policies, which could drive long-term growth [50] - Despite favorable long-term policies, the company does not anticipate increased wind industry installations to fully materialize until 2025 due to pending clarifications on key components of the Inflation Reduction Act [23] Company Strategy and Development Direction - The company aims to preserve cash and improve liquidity, ending 2023 with $161 million in cash, flat from Q3 2023 [5] - A focus on the wind business is prioritized over the automotive sector, with strategic alternatives being explored for the automotive business to ensure sufficient funding [49] - The company expects a significant improvement in EBITDA and EBITDA margin in 2024, targeting a margin range of 1% to 3% for the full year, with a trajectory to exceed $100 million in EBITDA by 2025 [24][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term energy transition and the company's position to capitalize on industry growth despite short-term challenges [33] - The company anticipates a transition year in 2024, with slight sales declines but significant EBITDA improvements expected [51] - Management noted that warranty campaigns and production transitions would impact the first half of 2024, with expectations for improved performance in the second half [31][58] Other Important Information - The company ended Q4 2023 with $485 million in debt, including a senior secured term loan and convertible notes [56] - A significant focus on reducing operating costs is ongoing, with expectations for continued structural cost reductions [89] - The company plans capital expenditures of $25 million to $30 million in 2024, primarily for startups and transitions [59] Q&A Session Summary Question: What is the visibility into the second half ramp? - Management indicated that the second half ramp is largely set and not dependent on the IRA [62] Question: What is the expected EBITDA for 2025? - Management expects to exceed $100 million in annualized EBITDA in 2025 [63] Question: Can you elaborate on the materials issue and its impact? - The materials issue resulted in a $20 million sales impact and an $8 million EBITDA impact in Q4, but recovery is expected in 2024 [68] Question: How is the warranty issue progressing? - Management feels they have a handle on the warranty issues, with most technicians now engaged in revenue-generating work [69] Question: What is the expected operating expense trend in 2024? - Management expects to continue reducing operating costs as a percentage of revenue [89] Question: How much of the revenue guidance is derisked by current supply agreements? - All revenue in 2024 is considered derisked as it is under contract [99] Question: What clarity is needed regarding the IRA? - Customers are awaiting clarification on domestic content and green hydrogen components, which could significantly impact wind development [119]

Q4 2023 Earnings Call February 22, 2024 This presentation contains forw ard-looking statements w ithin the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operati ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37839 TPI Composites, Inc. (Exact name of Registrant as specified in its charter) Delaware 20-1590775 (State or other jurisdiction of ...

SCOTTSDALE, Ariz., Feb. 22, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (Nasdaq: TPIC), today reported financial results for the fourth quarter and full year ended December 31, 2023. "Once again, we demonstrated our ability to navigate a challenging macro environment and finished 2023 with $161 million of unrestricted cash, resulting from a significant improvement in working capital. Throughout the year, we took advantage of the opportunity to strengthen our strategic position ahead of the wind market's a ...

This presentation also contains estimates and other information concerning our industry that are based on industry publications, surveys and forecasts. This information involves a number of assumptions and limitations, and we have not independently verified the accuracy or completeness of the information • Appendix Legal Disclaimer The forward-looking statements in this presentation represent our views as of the date of this presentation. We anticipate that subsequent events and developments will cause our ...

TPI Composites, Inc. (NASDAQ:TPIC) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET Company Participants Jason Wegmann - Investor Relations Bill Siwek - President and Chief Executive Officer Ryan Miller - Chief Financial Officer Conference Call Participants Eric Stine - Craig-Hallum Morgan Reid - Bank of America Pavel Molchanov - Raymond James Jeff Osborne - TD Cowen Operator Hello and welcome to the TPI Composites Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note ...