TPI Composites, Inc. (TPIC) Misses Q4 EPS by 82c

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Go back to TPI Composites, Inc. (TPIC) Misses Q4 EPS by 82c

TPI Composites, Inc. Announces Fourth Quarter and Full Year 2021 Earnings Results – Achieves Record Net Sales for the Full Year

February 24, 2022 4:01 PM EST

SCOTTSDALE, Ariz., Feb. 24, 2022 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (Nasdaq: TPIC), today reported financial results for the fourth quarter and full year ended December 31, 2021.

We achieved record net sales in 2021 despite the ongoing challenges the broader wind industry faced, including supply chain costs and constraints, logistics costs and the lingering effects of COVID, said Bill Siwek, President and CEO of TPI Composites. Our results of operations for 2021 and the fourth quarter were adversely impacted by approximately $52 million and $40 million, respectively, primarily due to deferral of revenue relating to... More