TPI Composites(US:TPIC)2025-05-13 07:22Financial Performance - Net sales increased by 143% to $3362 million in Q1 2025 compared to $2941 million in Q1 2024[19, 28] - Net loss from continuing operations attributable to common stockholders was ($483) million, an improvement from a net loss of ($609) million in Q1 2024[20] - Adjusted EBITDA loss was ($103) million in Q1 2025, compared to an adjusted EBITDA loss of ($230) million in Q1 2024, a 553% increase[19, 28] - The company had $1719 million in unrestricted cash at the end of Q1 2025[20, 31] - Free cash flow improved by $454 million year-over-year in Q1 2025[54] Operational Highlights - Q1 2025 utilization reached 70%[20, 28] - Six lines are in startup and transition, with Iowa expected to start production in Q2[20] - Operating cash flow was $46 million in Q1 2025[20] - The company produced 509 sets in Q1 2025, compared to 488 in Q1 2024[28] Guidance - The company projects sales from continuing operations to be in the range of $14 - $15 billion for 2025[35] - Adjusted EBITDA margin from continuing operations is expected to be approximately 0% - 2% for 2025[35] - Utilization is projected to be 80% - 85% on 34 lines for 2025[35] - Capital expenditures are expected to be in the range of $25 - $30 million for 2025[35]