TPI COMPOSITES Reports Second Quarter FY2023 Earnings Results on August 3, 2023
August 14, 2023
🌥️Earnings Overview
On August 3, 2023, TPI COMPOSITES ($NASDAQ:TPIC) released its earnings report for the second quarter of the 2023 fiscal year (ending June 30, 2023). Revenue for the quarter was USD 381.3 million, a 15.7% decrease from the same period in the prior year. Net income for the quarter dropped to -65.2 million, compared to -5.5 million in Q2 2022.
Share Price
The stock opened at $5.9 and closed at $6.2, achieving a 3.9% gain from the previous closing price of $6.0. This was the third consecutive quarter of growth for the company, which has seen its stock price increase steadily throughout the past financial year. The company is committed to innovation as it continues to grow, and this quarter’s strong performance is a testament to its success.
The strong earnings report was met with enthusiasm from investors, with the stock price increasing throughout the day. Going forward, investors will be closely watching the company’s performance as it continues its growth trajectory through the rest of the fiscal year. Live Quote…
About the Company
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% |
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 |
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 |
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% |
Analysis
At GoodWhale, we have conducted an analysis of TPI COMPOSITES‘s fundamentals. Our Risk Rating indicates that TPI COMPOSITES is a high risk investment, both on the financial and business aspects. Upon further inspection, we have detected two risk warnings in the income sheet and cashflow statement. We invite you to register on goodwhale.com to further explore our analysis of TPI COMPOSITES. We hope our insights can help you make the best possible decision for your investments. More…
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 reported a drop in revenue for the second quarter of FY2023, with total revenue of USD 381.3 million, a decrease of 15.7% from the same period last year. Net income for the quarter was -65.2 million compared to -5.5 million the previous year. Despite the dip in revenue and profits, the stock price of TPI Composites moved up the same day, signaling that investors are optimistic about the company’s future prospects.
To gain further insights into the company’s performance, investors should analyze more financial metrics such as operating margin, return on equity, and debt-to-equity ratio. Analyzing TPI Composites’s competitive position within its industry can also provide useful information to investors.
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