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 ...

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 September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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) Delaware 20-1590775 (I.R ...

Q2 2023 Financial Performance - Net sales decreased by 2.9% to $381.3 million compared to $392.5 million in Q2 2022[7, 12] - Net loss attributable to common stockholders was ($80.8) million, a significant increase from ($25.3) million in Q2 2022[8, 12] - Adjusted EBITDA was a loss of ($38.9) million, compared to a profit of $5.6 million in Q2 2022[7, 8, 13] - Utilization was 85%, down from 88% in Q2 2022[8, 12, 13] Balance Sheet and Cash Flow - Cash and cash equivalents totaled $170.1 million[8, 14, 16] - Total debt principal was $195.5 million[14, 26] - Net cash (debt) was ($23.6) million[14, 26] - Free cash flow was $6.2 million in Q2 2023[15, 16] 2023 Guidance Update - Sales from continuing operations are now projected to be $1.525 billion to $1.575 billion, revised from the previous guidance of $1.6 billion to $1.7 billion[17] - Adjusted EBITDA margin % from continuing operations is expected to be a loss of less than (1%), revised from a low single-digit profit[17] - Utilization is projected to be 80% to 85% on 37 lines, revised from 85% to 90%[17] - Capital expenditures are still expected to be $40 million to $45 million[17]

TPI Composites, Inc. (NASDAQ:TPIC) Q2 2023 Earnings Conference Call August 3, 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 Julien Dumoulin-Smith – Bank of America Mark Strouse – JPMorgan Justin Clare – ROTH MKM Eric Stine – Craig-Hallum Joseph Osha – Guggenheim Partners Sherif Elmaghrabi – BTIG Pavel Molchanov – Raymond James Operator Hello, and welcome to the TPI ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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) Delaware 20-1590775 (I.R.S. E ...

Financial Data and Key Metrics Changes - Total sales increased by nearly 18% year-over-year to $404 million, with adjusted EBITDA rising 38% to $8.4 million [3][16] - Net loss attributed to common stockholders was $37.3 million, compared to a net loss of $29.9 million in the same period last year [18] - Adjusted EBITDA for Q1 2023 totaled $8.4 million, up from $6.1 million in Q1 2022, driven by higher sales and cost reduction initiatives [19] Business Line Data and Key Metrics Changes - Wind sales increased by 20.5% year-over-year, primarily due to a 20% increase in the number of wind blades produced and higher average sales prices [16] - Field services sales decreased by $2.7 million due to fewer technicians deployed on revenue-generating projects [17] - Automotive sales decreased by $2.6 million, attributed to a reduction in composite bus bodies produced [18] Market Data and Key Metrics Changes - The global wind market remains challenging, but demand is expected to strengthen once regulatory uncertainties are resolved [12] - The EU aims to reach 42.5% renewable energy by 2030, which could relieve permitting for 100 gigawatts of wind energy [11] - The supply chain situation has improved significantly compared to the last two years, with raw material costs expected to trend down [10] Company Strategy and Development Direction - The company plans to use proceeds from a recent $110 million green convertible senior notes offering to support growth and sustainability initiatives [4] - TPI aims to expand its operations and market share as demand for wind energy increases, projecting wind revenue to exceed $2 billion in the coming years [12][14] - The company is exploring strategic alternatives for its automotive business to enable faster scaling [9] Management's Comments on Operating Environment and Future Outlook - Management remains confident in the energy transition and believes TPI is well-positioned to capitalize on industry growth [24] - The company expects to see order books begin to build once more regulatory guidance is provided [33] - Management acknowledges ongoing inflationary pressures but anticipates improvements in raw material and logistics costs in the second half of the year [22] Other Important Information - The company plans to increase capital expenditures guidance from $25 million to a range of $40 million to $45 million for 2023 [22] - TPI is focused on enhancing corporate governance practices, including phasing out a staggered Board and eliminating supermajority voting requirements [5] Q&A Session Summary Question: Visibility on the 44 lines mentioned - Management has signed memorandums of understanding for the majority of the 44 lines and is in discussions for potential expansion [26][27] Question: Confidence in liquidity and financing - The recent convertible note issuance provides ample financial flexibility, and management is focused on maintaining an efficient balance sheet [28][29] Question: Impact of guidance on project progress - Some developers are waiting for guidance before moving forward, but others are proceeding with projects [32][33] Question: Timeline for contracts and operational capability - Start-up timelines vary by location, with India expected to start by the end of the year and full ramp-up by 2025 [40] Question: Incorporating inflation into contracts - There is increased awareness of inflation in contract negotiations, with more focus on shared pain/gain structures [41][42] Question: Collaboration with Vestas - The relationship with Vestas has become more strategic, similar to interactions with other customers [44][46]