TPI Composites, Inc. Announces First Quarter 2025 Earnings Results – Operational Execution and Strategic Initiatives Drive Improved Financial Results; Initiation of Strategic Review

Core Insights - TPI Composites, Inc. reported a 14% year-over-year growth in sales for Q1 2025, achieving net sales of $336.2 million compared to$294.0 million in Q1 2024 [2][6] - The company is undergoing a strategic review to optimize its capital structure amid ongoing economic challenges and uncertainties in the renewable energy sector [2][3] Financial Performance - Net loss from continuing operations was $48.3 million for Q1 2025, an improvement from a net loss of$60.9 million in Q1 2024 [6][8] - Adjusted EBITDA loss decreased to $10.3 million in Q1 2025 from a loss of$23.0 million in the same period last year, indicating improved operational efficiency [10][14] - Net cash provided by operating activities improved by $43.6 million compared to the same period in 2024, primarily due to a decrease in net loss and changes in working capital [11] Operational Metrics - The number of wind blade sets produced increased to 509 in Q1 2025 from 488 in Q1 2024, with an estimated capacity of 1,933 megawatts compared to 2,050 megawatts in the previous year [5] - Utilization rate improved to 70$40.1 million, or 13.9%, to $329.0 million in Q1 2025, driven by higher average sales prices and a 4$7.1 million, attributed to an increase in technicians deployed to revenue-generating projects [14] Guidance for 2025 - The company expects full-year net sales from continuing operations to be between $1.4 billion and$1.5 billion, with an adjusted EBITDA margin projected between 0% and 2% [12]