TPI COMPOSITES INC | 10-Q: FY2025 Q3 Revenue: USD 234.41 M

Revenue: As of FY2025 Q3, the actual value is USD 234.41 M.

EPS: As of FY2025 Q3, the actual value is USD -2.63.

EBIT: As of FY2025 Q3, the actual value is USD -57.87 M.

U.S. Segment

Net Sales: $24,819 thousand for the three months ended September 30, 2025, compared to $7,417 thousand for the same period in 2024, representing a 199.8% increase. For the nine months ended September 30, 2025, net sales were $42,504 thousand compared to $14,176 thousand in 2024, a 199.8% increase.
Cost of Goods Sold: $30,530 thousand for the three months ended September 30, 2025, compared to $6,711 thousand for the same period in 2024. For the nine months ended September 30, 2025, cost of goods sold was $48,180 thousand compared to $11,046 thousand in 2024.
Loss from Continuing Operations: - $36,387 thousand for the three months ended September 30, 2025, compared to - $8,754 thousand for the same period in 2024. For the nine months ended September 30, 2025, loss from continuing operations was - $54,590 thousand compared to - $33,913 thousand in 2024.

Mexico Segment

Net Sales: $170,659 thousand for the three months ended September 30, 2025, compared to $206,342 thousand for the same period in 2024, representing a 17.3% decrease. For the nine months ended September 30, 2025, net sales were $557,465 thousand compared to $518,111 thousand in 2024, a 7.6% increase.
Cost of Goods Sold: $213,409 thousand for the three months ended September 30, 2025, compared to $209,602 thousand for the same period in 2024. For the nine months ended September 30, 2025, cost of goods sold was $639,845 thousand compared to $579,204 thousand in 2024.
Loss from Continuing Operations: - $45,474 thousand for the three months ended September 30, 2025, compared to - $11,874 thousand for the same period in 2024. For the nine months ended September 30, 2025, loss from continuing operations was - $91,803 thousand compared to - $72,570 thousand in 2024.

India Segment

Net Sales: $35,893 thousand for the three months ended September 30, 2025, compared to $43,053 thousand for the same period in 2024, representing a 16.6% decrease. For the nine months ended September 30, 2025, net sales were $107,350 thousand compared to $126,882 thousand in 2024, a 15.4% decrease.
Cost of Goods Sold: $35,018 thousand for the three months ended September 30, 2025, compared to $40,564 thousand for the same period in 2024. For the nine months ended September 30, 2025, cost of goods sold was $104,189 thousand compared to $121,094 thousand in 2024.
Income from Continuing Operations: $458 thousand for the three months ended September 30, 2025, compared to $1,686 thousand for the same period in 2024. For the nine months ended September 30, 2025, income from continuing operations was $2,077 thousand compared to $4,321 thousand in 2024.

Other Segment

Net Sales: $3,041 thousand for the three months ended September 30, 2025, compared to $2,357 thousand for the same period in 2024, representing a 29.0% increase. For the nine months ended September 30, 2025, net sales were $4,817 thousand compared to $4,188 thousand in 2024, a 15.0% increase.
Cost of Goods Sold: $1,991 thousand for the three months ended September 30, 2025, compared to $2,118 thousand for the same period in 2024. For the nine months ended September 30, 2025, cost of goods sold was $4,650 thousand compared to $4,860 thousand in 2024.
Income from Continuing Operations: $1,050 thousand for the three months ended September 30, 2025, compared to $240 thousand for the same period in 2024. For the nine months ended September 30, 2025, income from continuing operations was $168 thousand compared to - $673 thousand in 2024.

Outlook

The company is undergoing a restructuring process under Chapter 11 to facilitate financial and operational restructuring. The company continues to operate as a debtor-in-possession and is engaging with stakeholders regarding a restructuring plan. The company has filed motions to pursue a structured sale of assets under Section 363 of the Bankruptcy Code.