TPI Composites, Inc. manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators. It operates in the United States, Asia, Mexico, Europe, the Middle East, Africa, and India. The company was formerly known as LCSI Holding, Inc. and changed its name to TPI Composites, Inc. in 2008. TPI Composites, Inc. was founded in 1968 and is headquartered in Scottsdale, Arizona.
IPO Year: 2016
Exchange: NASDAQ
Website: tpicomposites.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/15/2024 | $4.00 → $2.00 | Equal-Weight → Underweight | Morgan Stanley |
| 10/17/2024 | $5.00 | Hold | Jefferies |
| 10/3/2023 | Outperform → Mkt Perform | Raymond James | |
| 7/27/2023 | $10.00 | Accumulate → Hold | Johnson Rice |
| 7/27/2023 | Buy → Neutral | BTIG Research | |
| 7/27/2023 | $15.00 → $11.00 | Buy → Hold | Craig Hallum |
| 7/27/2023 | $15.00 → $10.00 | Buy → Neutral | ROTH MKM |
| 3/16/2023 | $22.00 | Neutral → Buy | Guggenheim |
| 2/23/2023 | $9.00 → $14.00 | Underperform → Buy | BofA Securities |
| 11/4/2022 | $17.00 | Hold → Buy | Craig Hallum |
SCOTTSDALE, Ariz., Nov. 07, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (NASDAQ:TPIC), today reported financial results for the third quarter ended September 30, 2024. "The third quarter marked a significant improvement for the company, showcasing improved profitability with positive adjusted EBITDA. This improvement was largely driven by 89% utilization in our plants as we made progress on transitioning/starting up ten lines with next-generation workhorse blades. Our results also benefited from eliminating losses that had been burdening our financial performance by divesting the Automotive business and shutting down the Nordex Matamoros plant at the end of the second quarter of this ye
SCOTTSDALE, Ariz., Nov. 07, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (TPI) (NASDAQ:TPIC) announced today that Jennifer Lowry will be appointed to its board of directors, effective as of November 13, 2024. Ms. Lowry also will serve on the Audit Committee of the Board. Ms. Lowry brings many years of broad finance experience in the electric power industry. "We are excited to have Jen join our board," said Bill Siwek, TPI's President and CEO. "We will greatly benefit from Jen's experience in the electric power industry to help support our long-term strategy." Ms. Lowry currently serves as an independent director of Clearway Energy, Inc. (NYSE:CWEN) since February 2022 and MYR Group Inc.
SCOTTSDALE, Ariz., Oct. 17, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. ("TPI") (NASDAQ:TPIC) today announced that the company will release its third quarter 2024 results after the market close on Thursday, November 7, 2024, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day. The conference call can be accessed live over the phone by dialing 1-800-343-4849, or for international callers, 1-203-518-9843. The Conference ID for the live call is "TPIC". A replay will be available two hours after the call and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 11157090. The replay will be availabl
SCOTTSDALE, Ariz., Aug. 14, 2024 (GLOBE NEWSWIRE) -- Today TPI Composites, Inc., (TPI) (NASDAQ:TPIC) announced its participation with the University of Texas at Dallas to apply physics-informed machine learning (ML) algorithms to simulate and optimize the composite curing process through multi-zone temperature control. This will solve a current technological gap by developing a smart "digital twin" that optimizes the curing process in blade manufacturing. Funded by the Office of Energy Efficiency & Renewable Energy, this project will accelerate the transition of research on ML-based modeling tools in academia to real industrial applications. The digital twin will take inputs like spatial
SCOTTSDALE, Ariz., Aug. 08, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (NASDAQ:TPIC), today reported financial results for the second quarter ended June 30, 2024. "In the second quarter we were able to complete the divestiture of our Automotive business and we closed the Nordex Matamoros plant for Nordex, two loss making businesses that have negatively impacted TPI's performance. We also continued the ramp of ten lines either in startup or transition. As these lines enter serial production and utilization increases, combined with the divestiture of the Automotive business and shut down of the Nordex Matamoros plant, we are positioned to return the company to profitability and positive
SCOTTSDALE, Ariz., July 18, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. ("TPI") (NASDAQ:TPIC) today announced that the company will release its second quarter 2024 results after the market close on Thursday, August 8, 2024, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day. The conference call can be accessed live over the phone by dialing 1-800-343-4136, or for international callers, 1-203-518-9843. The Conference ID for the live call is "TPIC". A replay will be available two hours after the call and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 11156386. The replay will be available
SCOTTSDALE, Ariz., June 17, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc., (TPI) (NASDAQ:TPIC) announced it has entered into a definitive agreement to divest its automotive business to Clear Creek Investments, LLC (CCI), a dedicated innovation and sustainability investor with a focus on deploying capital in companies driving climate solutions and climate resiliency throughout the energy, water, and food value chains. As part of the divestiture transaction, TPI will sell its automotive subsidiary to CCI, which will be renamed Senvias™ Inc. The transaction is expected to close on June 30, 2024. "After a thorough review of strategic alternatives, we're pleased to enter into this agreeme
SCOTTSDALE, Ariz., May 22, 2024 (GLOBE NEWSWIRE) -- Today TPI Composites, Inc., (TPI) (NASDAQ:TPIC) announced its contributions on the Kenworth SuperTruck 2 that is being exhibited at the Advanced Clean Transportation (ACT) Expo in Las Vegas, Nevada. The all-composite cab, engineered and manufactured by TPI, pushes the boundaries of weight reduction and aerodynamics. TPI's expertise in the development and design of lightweight, high-strength composite materials enable the manufacturing of critical components and cab structures with significant weight reduction and improved freight efficiency. The SuperTruck 2 program is a public-private partnership with the U.S. Department of Energy (DOE)
SCOTTSDALE, Ariz., May 07, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc., (TPI) (NASDAQ:TPIC) today announced a groundbreaking initiative in partnership with the University of Maine Advanced Structures and Composites Center (ASCC) and Oak Ridge National Laboratory to utilize one of the world's largest 3D printers for the production of wind turbine tooling. The goal of this project is to understand how new technologies can provide faster, lower-cost precision manufacturing of large modular wind blade tooling. ASCC's Composite Center's Ingersoll MasterPrint®, the world's largest polymer 3D printer can print modular wind blade tooling at 500lb/hour, with segments up to 18.3m long x 6.7m wi
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 expected multi-year global wind market growth environment, we are excited to partner with them and align our factories to support their next generation blade models. Activity on these startups and transitions is progressing well and we remain confident 2024 will be a tale of two halves, as we are projecting a return to mid-single digit adjusted EBITDA mar
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SCOTTSDALE, Ariz., Nov. 07, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (NASDAQ:TPIC), today reported financial results for the third quarter ended September 30, 2024. "The third quarter marked a significant improvement for the company, showcasing improved profitability with positive adjusted EBITDA. This improvement was largely driven by 89% utilization in our plants as we made progress on transitioning/starting up ten lines with next-generation workhorse blades. Our results also benefited from eliminating losses that had been burdening our financial performance by divesting the Automotive business and shutting down the Nordex Matamoros plant at the end of the second quarter of this ye
SCOTTSDALE, Ariz., Oct. 17, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. ("TPI") (NASDAQ:TPIC) today announced that the company will release its third quarter 2024 results after the market close on Thursday, November 7, 2024, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day. The conference call can be accessed live over the phone by dialing 1-800-343-4849, or for international callers, 1-203-518-9843. The Conference ID for the live call is "TPIC". A replay will be available two hours after the call and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 11157090. The replay will be availabl
SCOTTSDALE, Ariz., Aug. 08, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (NASDAQ:TPIC), today reported financial results for the second quarter ended June 30, 2024. "In the second quarter we were able to complete the divestiture of our Automotive business and we closed the Nordex Matamoros plant for Nordex, two loss making businesses that have negatively impacted TPI's performance. We also continued the ramp of ten lines either in startup or transition. As these lines enter serial production and utilization increases, combined with the divestiture of the Automotive business and shut down of the Nordex Matamoros plant, we are positioned to return the company to profitability and positive
SCOTTSDALE, Ariz., July 18, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. ("TPI") (NASDAQ:TPIC) today announced that the company will release its second quarter 2024 results after the market close on Thursday, August 8, 2024, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day. The conference call can be accessed live over the phone by dialing 1-800-343-4136, or for international callers, 1-203-518-9843. The Conference ID for the live call is "TPIC". A replay will be available two hours after the call and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 11156386. The replay will be available
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 expected multi-year global wind market growth environment, we are excited to partner with them and align our factories to support their next generation blade models. Activity on these startups and transitions is progressing well and we remain confident 2024 will be a tale of two halves, as we are projecting a return to mid-single digit adjusted EBITDA mar
SCOTTSDALE, Ariz., April 11, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. ("TPI") (NASDAQ:TPIC) today announced that the company will release its first quarter 2024 results after the market close on Thursday, May 2, 2024, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day. The conference call can be accessed live over the phone by dialing 1-844-825-9789, or for international callers, 1-412-317-5180. A replay will be available two hours after the call and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the live call and the replay is 10187861. The replay will be available until May 16, 2024. Interested
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 anticipated recovery and improve our liquidity," said Bill Siwek, President and CEO of TPI Composites. "Our recently announced refinancing of Oaktree's Series A Preferred Stock holdings p
SCOTTSDALE, Ariz., Feb. 01, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. ("TPI") (NASDAQ:TPIC) today announced that the company will release its fourth quarter and full year 2023 results after the market close on Thursday, February 22, 2024, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day. The conference call can be accessed live over the phone by dialing 1-844-825-9789, or for international callers, 1-412-317-5180. A replay will be available two hours after the call and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the live call and the replay is 10185683. The replay will be available until March
Improves liquidity by approximately $190 million Permanently reduces future obligations by up to $90 million SCOTTSDALE, Ariz., Dec. 14, 2023 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (NASDAQ:TPIC) ("TPI" or "the Company") announced today that it has entered into a binding agreement (the "Agreement") with funds managed by Oaktree Capital Management, L.P. ("Oaktree") to refinance Oaktree's outstanding Series A Preferred Stock holdings in the Company. The refinancing closed concurrently with the execution of the Agreement. Under the terms of the Agreement, Oaktree converted its existing $436 million Series A Preferred Stock investment into a $393 million senior secured term loan, wit
SCOTTSDALE, Ariz., Nov. 02, 2023 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (NASDAQ:TPIC), today reported financial results for the third quarter ended September 30, 2023. "I was pleased with the results of our focus on cash flow and liquidity in the quarter as we finished with $161 million of unrestricted cash. Our team executed numerous cash flow initiatives to help us navigate a quarter that included a $22.6 million charge related to the bankruptcy of an automotive customer as well as an incremental $13.5 million charge for the warranty campaign we announced in the second quarter. To finish the quarter with $161 million of cash is a testament to our team's relentless emphasis on executio
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Morgan Stanley downgraded TPI Composites from Equal-Weight to Underweight and set a new price target of $2.00 from $4.00 previously
Jefferies initiated coverage of TPI Composites with a rating of Hold and set a new price target of $5.00
Raymond James downgraded TPI Composites from Outperform to Mkt Perform
Johnson Rice downgraded TPI Composites from Accumulate to Hold and set a new price target of $10.00
BTIG Research downgraded TPI Composites from Buy to Neutral
Craig Hallum downgraded TPI Composites from Buy to Hold and set a new price target of $11.00 from $15.00 previously
ROTH MKM downgraded TPI Composites from Buy to Neutral and set a new price target of $10.00 from $15.00 previously
Guggenheim upgraded TPI Composites from Neutral to Buy and set a new price target of $22.00
BofA Securities upgraded TPI Composites from Underperform to Buy and set a new price target of $14.00 from $9.00 previously
Craig Hallum upgraded TPI Composites from Hold to Buy and set a new price target of $17.00
SCOTTSDALE, Ariz., Nov. 07, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (TPI) (NASDAQ:TPIC) announced today that Jennifer Lowry will be appointed to its board of directors, effective as of November 13, 2024. Ms. Lowry also will serve on the Audit Committee of the Board. Ms. Lowry brings many years of broad finance experience in the electric power industry. "We are excited to have Jen join our board," said Bill Siwek, TPI's President and CEO. "We will greatly benefit from Jen's experience in the electric power industry to help support our long-term strategy." Ms. Lowry currently serves as an independent director of Clearway Energy, Inc. (NYSE:CWEN) since February 2022 and MYR Group Inc.
SCOTTSDALE, Ariz., April 09, 2024 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (TPI) (NASDAQ:TPIC) announced today that Edward "Ned" Hall has been nominated to join its board of directors, and if elected, will become a director, effective immediately upon the conclusion of TPI's annual meeting of stockholders on May 29, 2024. TPI also announced that Philip Deutch and Linda Hudson were retiring from TPI's Board of Directors, effective upon the conclusion of TPI's annual meeting of stockholders on May 29, 2024. Mr. Deutch and Ms. Hudson have served as directors since 2007 and 2020, respectively. "We are excited to have Ned join our board," said Bill Siwek, TPI's President and CEO. "We will grea
SCOTTSDALE, Ariz., Nov. 27, 2023 (GLOBE NEWSWIRE) -- TPI Composites, Inc., (TPI) (NASDAQ:TPIC), announced today that it has appointed Charles (Chuck) Stroo as Chief Operating Officer, Wind, effective November 27, 2023. In his role, Chuck will lead TPI's global wind manufacturing operations. Prior to joining TPI, Chuck served in multiple, global operational roles at Collins Aerospace, most recently as Vice President of Power & Controls Operations. Chuck started his career with Collins Aerospace over twenty years ago as an engineer before transitioning to operational roles. Chuck holds a Bachelor of Science Degree in Electrical Engineering from Iowa State University and a Master of Business
SCOTTSDALE, Ariz., July 20, 2023 (GLOBE NEWSWIRE) -- TPI Composites, Inc., (TPI) (NASDAQ:TPIC) announced today that it has hired Neil Jones as its Chief Quality Officer, effective August 1, 2023. In this newly-created position, Neil will oversee all quality processes, systems and controls relating to TPI's wind business and will report directly to TPI's President and Chief Executive Officer, Bill Siwek. Neil brings over 25 years of experience in quality and engineering positions in the wind and automotive industry. Neil spent more than 13 years with Vestas Wind Systems in a variety of quality leadership roles, with the last five years as Senior Vice President - Quality, Health, Safety and
SCOTTSDALE, Ariz., May 23, 2022 (GLOBE NEWSWIRE) -- TPI Composites, Inc., (TPI) (NASDAQ:TPIC), the only independent manufacturer of composite wind blades with a global footprint, announced today that it has appointed Ryan Miller as Chief Financial Officer, effective May 23, 2022. In his role as Chief Financial Officer, Ryan will lead TPI's finance, accounting and investor relations functions. Prior to joining TPI, Ryan served in various financial and investor relations roles at Rockwell Collins and Collins Aerospace from December 2002 to February 2022, most recently as the Vice President & Chief Financial Officer of the Avionics Division of Collins Aerospace, from November 2018 to Februar
TEMPE, Ariz., Oct. 12, 2021 /PRNewswire/ -- Benchmark Electronics, Inc. (NYSE:BHE) today announced the appointment of Ramesh Gopalakrishnan as an independent director to the Company's Board of Directors, effective October 11, 2021. Benchmark also announced today the retirement of Bruce Carlson, who has served as a board member since 2017, also effective October 11, 2021. "Bruce has been a valuable member of the Board and we have appreciated his experience and insights," said David W. Scheible, Chairman of the Board. "On behalf of the Board of Directors, I thank Bruce for his
SCOTTSDALE, Ariz., June 30, 2021 (GLOBE NEWSWIRE) -- TPI Composites, Inc., (TPI) (NASDAQ:TPIC) announced today that it has hired Jerry Lavine as its President, Transportation, effective June 30, 2021. In this position, Jerry will oversee the Company's transportation business. Jerry brings nearly 30 years of experience in the automotive industry in technical, operational and commercial roles. Jerry has recently served as a consultant to new entrant automotive manufacturers and other automotive industry participants. Prior to his role as a consultant, Jerry served as the Chief Technology Officer and President North America of Bordrin New Energy Vehicle Corporation from November 2017 to Janu
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Piper Sandler analyst Kashy Harrison maintains TPI Composites (NASDAQ:TPIC) with a Neutral and raises the price target from $3 to $3.5.
B of A Securities analyst Julien Dumoulin-Smith maintains TPI Composites (NASDAQ:TPIC) with a Buy and raises the price target from $5 to $6.
JP Morgan analyst Mark Strouse maintains TPI Composites (NASDAQ:TPIC) with a Overweight and raises the price target from $8 to $9.
As we move into the second half of 2024, the clean energy sector is ripe with opportunities despite the current volatility. According to insights from JPMorgan analyst Patrick Jones, the sector is positioned for positive surprises in the coming year. Here are three under-the-radar clean energy stocks with strong upside potential, irrespective of political changes in the White House. HASI Capital Hannon Armstrong Sustainable Infrastructure Capital Inc (NYSE:HASI) is a climate investment firm that partners with clients to deploy assets supporting the energy transition. They invest in distributed energy projects, renewable energy sources like solar and wind, and sustainable fuels and t
Roth MKM analyst Philip Shen maintains TPI Composites (NASDAQ:TPIC) with a Neutral and raises the price target from $3.3 to $3.75.
TPI Composites (NASDAQ:TPIC) reported quarterly losses of $(1.30) per share which missed the analyst consensus estimate of $(0.73) by 78.08 percent. This is a 47.73 percent decrease over losses of $(0.88) per share from the same period last year. The company reported quarterly sales of $299.062 million which beat the analyst consensus estimate of $296.282 million by 0.94 percent. This is a 25.99 percent decrease over sales of $404.066 million the same period last year.