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WebsiteIntroduction
TPI Composites Inc (Nasdaq: TPIC) is a U.S.–based manufacturer of composite wind turbine blades. Founded in 1968 and headquartered in Scottsdale, Arizona, the company has produced over 100,000 blades since 2001. TPI serves many prominent wind turbine original equipment manufacturers (OEMs) by outsourcing blade manufacturing to strategically located facilities designed to minimize total delivered cost.
Corporate Structure
Employing more than 10,000 associates worldwide, TPI operates blade manufacturing plants in the United States, Mexico, TĂĽrkiye, and India. The company maintains engineering development centers in Denmark and Germany and global service training centers in the U.S., France, the United Kingdom, and Spain. Its predecessor, Tillotson Pearson Inc., developed expertise in high-performance composites across marine and industrial applications before focusing on wind energy.
Wind turbine blades by Anwar Hakim
Recent Developments and News
On August 11, 2025, TPI Composites Inc and 21 affiliated debtors filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the Southern District of Texas. On the same day, the company submitted its Form 10-Q for the quarter ended June 30, 2025, to the Securities and Exchange Commission. On August 15, 2025, TPI filed a Form 8-K reporting material events and disclosures. As of August 18, 2025, the share price closed at $0.1080, down 54.04% for the day on a trading volume of 5,468,905 shares.
Financial and Strategic Aspects
For the twelve months ended June 30, 2025, TPI’s trailing revenue was $1.34 billion, with a net loss of $204.6 million and diluted EPS of –$4.27. The profit margin stood at –15.28%, return on assets at –6.14%, and total cash on hand was $106.4 million. Levered free cash flow was reported at $70.5 million. In fiscal 2024, the company also reported $1.3 billion in net sales and produced 6,525 blades. TPI’s production is estimated to offset over 264 million metric tons of CO₂ over a 20-year turbine lifespan. Strategic initiatives have involved expanding capacity through low-cost manufacturing locations and developing a global service network for blade inspection, repair, and preventative maintenance.
Market Position and Industry Context
Excluding China, TPI accounted for approximately 27% of global onshore wind blade capacity on a megawatt basis in 2024, according to Wood Mackenzie. The wind energy sector is influenced by policy changes, supply chain constraints, and raw material costs. TPI’s global footprint aims to address regional demand variations and logistical efficiencies. As OEMs increase outsourcing of blade production, TPI competes on reliability, cost control, and service coverage within a market driven by decarbonization goals.
tl;dr
On August 11, 2025, TPI Composites and its affiliates filed for Chapter 11 bankruptcy protection, resulting in a significant decline in share price: shares fell 54.04% on August 18 to $0.1080. The company's restructuring under court supervision will impact its ability to secure financing, continue blade production, and support ongoing service operations amid challenges in the wind energy market.
