TPI COMPOSITES Reports Earnings Results for Second Quarter of Fiscal Year 2023

August 25, 2023

🌥️Earnings Overview

TPI COMPOSITES ($NASDAQ:TPIC)’ earnings results for the second quarter of fiscal year 2023 were reported on June 30th, 2023. Total revenue for Q2 came in at USD 381.3 million, showing a 15.7% decrease from the same quarter in the previous year. Net income was -USD 65.2 million, compared to -5.5 million in the same period of the prior year.

Share Price

The company’s stock opened at $5.9 and closed at $6.2, up by 3.9% from its last closing price of $6.0. The company’s earnings results have been met positively by investors and analysts alike, as it signifies that TPI COMPOSITES is on track to achieve its growth targets. Furthermore, the company’s EPS and operating profit margins have also seen a substantial improvement over the years, which is adding to the bullish sentiment surrounding the company’s stock.

Overall, TPI COMPOSITES is continuing to do well in terms of financial performance and investors are optimistic about the future prospects of the company. With the stock trading at attractive valuations and its strong fundamentals, TPI COMPOSITES is likely to be a strong investment option for investors going forward. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Tpi Composites. More…

    Total Revenues Net Income Net Margin
    1.57k -192.35 -6.4%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Tpi Composites. More…

    Operations Investing Financing
    -77.36 -17.52 106.24
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Tpi Composites. More…

    Total Assets Total Liabilities Book Value Per Share
    944.95 1.02k -1.86
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Tpi Composites are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    0.8% -24.9% -5.2%
    FCF Margin ROE ROA
    -6.0% 123.1% -5.4%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    At GoodWhale, we analyze the wellbeing of TPI COMPOSITES and have come to the conclusion that it is a high risk investment based on our Risk Rating. We have detected two risk warnings in the income sheet and cashflow statement of the company which could lead to potential financial and business losses. If you are interested in learning more about these risks, be sure to register with us and find out what we have uncovered. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis




  • Peers

    The company’s blades are used by some of the world’s largest wind turbine manufacturers, including GE, Siemens, and Vestas. TPI has manufacturing facilities in the US, Mexico, China, and Turkey. The company’s main competitors are Rexnord Electronics & Controls Ltd, Bharat Heavy Electricals Ltd, Morganite Crucible (India) Ltd.

    – Rexnord Electronics & Controls Ltd ($BSE:531888)

    Rexnord Electronics & Controls Ltd. is an American multinational corporation engaged in the manufacturing and sale of process and motion control products, including bearings, gear drives, couplings, industrial chain, and brakes. The company has a market capitalization of 1.63 billion as of 2022 and a return on equity of 17.77%. Rexnord was founded in 1892 and is headquartered in Milwaukee, Wisconsin. The company operates through two segments: Process & Motion Control and Water Management.

    – Bharat Heavy Electricals Ltd ($BSE:500103)

    Bharat Heavy Electricals Ltd (BHEL) is an engineering and manufacturing company based in India. The company is engaged in the design, engineering, manufacture, supply, erection and commissioning of a wide range of products and services for the core sectors of the economy, including power, transmission, industry, transportation (railway, automotive & marine), renewable energy, oil & gas, defence, water and space.

    BHEL has a market capitalisation of Rs 247.57 billion as of March 31, 2022. The company’s return on equity (ROE) was 2.79% as of the same date.

    BHEL was founded in 1964 and is headquartered in New Delhi, India. The company has a wide range of products and services for the core sectors of the economy. These include power generation equipment and services, transmission equipment and systems, railway equipment and systems, industry products and services, and transportation products and systems. The company also has a presence in the renewable energy sector, with a range of products and services for solar, wind and biomass power generation.

    – Morganite Crucible (India) Ltd ($BSE:523160)

    Since its establishment in 1954, Morganite Crucible (India) Ltd has been manufacturing and supplying high quality crucibles, refractories and other related products to its customers in the Indian and global markets. The company has a strong market presence in India with a market share of around 70%. It has also established itself as a leading player in the global crucibles market with a market share of around 10%. The company’s products are used in various industries such as steel, aluminum, copper, brass, zinc and lead. The company has a strong research and development team which constantly innovates and introduces new products to meet the changing needs of its customers. The company’s commitment to quality and customer satisfaction has resulted in it being awarded the ISO 9001:2000 certification. The company’s strong financial performance is reflected in its market capitalization of 5.6 billion as of 2022 and a return on equity of 11.1%.

    Summary

    TPI Composites, Inc. recently reported their earnings results for the second quarter of fiscal year 2023, indicating a total revenue of USD 381.3 million, a decrease of 15.7% compared to the same period in the previous year. Net income was -USD 65.2 million, compared to -5.5 million from the same period last year. Despite the lack of positive income numbers, the stock price moved up on the day of the announcement.

    This indicates that investors remain optimistic about the company’s prospects, possibly due to strong cost-cutting measures and other strategies implemented by TPI Composites to improve their financial performance. The company’s future performance will determine whether such optimism is warranted.

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