Latest news with #TPI
Business Standard
6 days ago
- Business
- Business Standard
RITES emerges L1 bidder for a Gujarat Urban Development Company project
RITES is the lowest bidder (L-1) in the financial bid of the QCBS tender floated by Gujarat Urban Development Company for Appointment of TPI agency for WSS/UGD/STP projects under Amrut 2.0/SJMMSVY under GUDC for ULBs of Gujarat. The order is subject to award after the due process of scrutiny and overall evaluation (technical and financial) by the Gujarat Urban Development Company as per the requisite requirements mentioned in the tender documents. The estimated value of the bid is Rs. 28.50 crore excluding GST.
Hindustan Times
29-05-2025
- Politics
- Hindustan Times
Sitapur water tank collapse: Over a dozen govt staff face action
LUCKNOW The Uttar Pradesh government on Thursday dismissed and suspended over a dozen employees in Sitapur where a newly constructed water tank built under the Jal Jeevan Mission collapsed earlier in the day. The construction agency and the agency that checked the quality of the construction have also been blacklisted. As per reports, the water tank collapsed in Chunka village in Mahmudabad area of Sitapur district. However, no casualties have been reported so far. The locals said the tank had been supplying water to the village for the past two months and it was constructed at an estimated cost of ₹531.50 lakh ( ₹5.31 crore). This is the second incident within a year in Sitapur district involving the collapse of a Jal Jeevan Mission water tank. Last year, a tank in Chitahala village of Maholi constituency had collapsed during its trial run, leading to similar allegations of poor construction and negligence. BJP MLA from Mahmudabad, Asha Maurya, in a post on X said, 'Information was received about the collapse of a water tank built in Chunka village of Mahmudabad. The concerned officials had already been informed about the substandard work done under Jal Shakti Mission.' 'The result of negligence in work due to collusion of water corporation officials and contractors was seen today. Please take strict punitive action against the lax related officers and contractors,' she said. A state government officer said the junior engineer and assistant engineer of Jal Nigam (rural), who were monitoring the construction of the tank, have been suspended. A departmental inquiry has been initiated against the executive engineer of Jal Nigam (rural), assistant engineer and junior engineer. The assistant engineer and the junior engineer of the state drinking water and sanitation mission have been dismissed with immediate effect. Instructions have been given to remove the district in-charge of third-party inspection (TPI) who checked the quality of the construction with immediate effect. A 5% liquidated damage penalty has been imposed on the construction agency as well. A high-level committee has been formed for the preliminary investigation of the case. The committee will consist of a chief engineer of Jal Nigam (rural), a chief engineer of the state drinking water and sanitation mission and a superintending engineer of the department. The committee has been directed to submit its report within three days. The officer said, more than 16,000 tanks constructed to supply the water under Jal Jeevan Mission had been successfully tested. Out of 16,000 tanks, complaints of damage have been received regarding five tanks. In the case of tank damage, action has been taken against those responsible for it with immediate effect, he said. (With agency inputs)
Yahoo
13-05-2025
- Business
- Yahoo
TPI Composites (NASDAQ:TPIC) Surprises With Q1 Sales, Full-Year Sales Guidance is Optimistic
Global wind blade manufacturer TPI Composites (NASDAQ:TPIC) reported revenue ahead of Wall Street's expectations in Q1 CY2025, with sales up 12.4% year on year to $336.2 million. The company's full-year revenue guidance of $1.45 billion at the midpoint came in 2% above analysts' estimates. Its GAAP loss of $1.01 per share was 62.2% below analysts' consensus estimates. Is now the time to buy TPI Composites? Find out in our full research report. Revenue: $336.2 million vs analyst estimates of $314.6 million (12.4% year-on-year growth, 6.9% beat) EPS (GAAP): -$1.01 vs analyst expectations of -$0.62 (62.2% miss) Adjusted EBITDA: -$10.3 million vs analyst estimates of $5.28 million (-3.1% margin, significant miss) The company reconfirmed its revenue guidance for the full year of $1.45 billion at the midpoint Operating Margin: -6.8%, up from -13% in the same quarter last year Free Cash Flow was -$1.89 million compared to -$47.29 million in the same quarter last year Market Capitalization: $41.42 million 'In the first quarter, TPI achieved 14% year-over-year growth in sales and drove positive cash flows from operating activities despite a challenging geopolitical and operating environment. The various economic challenges presented in the markets where we operate continue to create uncertainty in the industry's near-term outlook and continue to challenge our operations. We are continuing to focus on maximizing value and ensuring that we have sufficient liquidity. Additionally, we are working with a committee of our Board of Directors and with advisors to conduct a strategic review of our business and evaluate potential strategic alternatives focused on optimizing our capital structure for the current and future environment,' said Bill Siwek, President and CEO of TPI Composites. Founded in 1968, TPI Composites (NASDAQ:TPIC) manufactures composite wind turbine blades and provides related precision molding and assembly systems. Examining a company's long-term performance can provide clues about its quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. TPI Composites struggled to consistently generate demand over the last five years as its sales dropped at a 1.7% annual rate. This was below our standards and is a sign of poor business quality. Long-term growth is the most important, but within industrials, a half-decade historical view may miss new industry trends or demand cycles. TPI Composites's recent performance shows its demand remained suppressed as its revenue has declined by 9% annually over the last two years. TPI Composites isn't alone in its struggles as the Renewable Energy industry experienced a cyclical downturn, with many similar businesses observing lower sales at this time. This quarter, TPI Composites reported year-on-year revenue growth of 12.4%, and its $336.2 million of revenue exceeded Wall Street's estimates by 6.9%. Looking ahead, sell-side analysts expect revenue to grow 5.1% over the next 12 months. While this projection indicates its newer products and services will spur better top-line performance, it is still below the sector average. Software is eating the world and there is virtually no industry left that has been untouched by it. That drives increasing demand for tools helping software developers do their jobs, whether it be monitoring critical cloud infrastructure, integrating audio and video functionality, or ensuring smooth content streaming. Click here to access a free report on our 3 favorite stocks to play this generational megatrend. Operating margin is an important measure of profitability as it shows the portion of revenue left after accounting for all core expenses – everything from the cost of goods sold to advertising and wages. It's also useful for comparing profitability across companies with different levels of debt and tax rates because it excludes interest and taxes. TPI Composites's high expenses have contributed to an average operating margin of negative 4.9% over the last five years. Unprofitable industrials companies require extra attention because they could get caught swimming naked when the tide goes out. It's hard to trust that the business can endure a full cycle. Looking at the trend in its profitability, TPI Composites's operating margin decreased by 8.6 percentage points over the last five years. TPI Composites's performance was poor no matter how you look at it - it shows that costs were rising and it couldn't pass them onto its customers. This quarter, TPI Composites generated a negative 6.8% operating margin. The company's consistent lack of profits raise a flag. We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company's growth is profitable. TPI Composites's earnings losses deepened over the last five years as its EPS dropped 104% annually. We tend to steer our readers away from companies with falling EPS, where diminishing earnings could imply changing secular trends and preferences. If the tide turns unexpectedly, TPI Composites's low margin of safety could leave its stock price susceptible to large downswings. Like with revenue, we analyze EPS over a shorter period to see if we are missing a change in the business. For TPI Composites, its two-year annual EPS declines of 23.7% show it's still underperforming. These results were bad no matter how you slice the data. In Q1, TPI Composites reported EPS at negative $1.01, up from negative $1.31 in the same quarter last year. Despite growing year on year, this print missed analysts' estimates. Over the next 12 months, Wall Street expects TPI Composites to improve its earnings losses. Analysts forecast its full-year EPS of negative $4.15 will advance to negative $1.70. We were impressed by how significantly TPI Composites blew past analysts' revenue expectations this quarter. We were also glad its full-year revenue guidance exceeded Wall Street's estimates. On the other hand, its EBITDA and EPS missed significantly. Zooming out, we think this was a mixed quarter. Investors were likely hoping for more, and shares traded down 1.9% to $0.96 immediately following the results. So do we think TPI Composites is an attractive buy at the current price? When making that decision, it's important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
Yahoo
24-03-2025
- Business
- Yahoo
TPI is hiring for more than 400 jobs at Newton plant, due to open in May
Mar. 24—TPI Composites is hiring in Newton. Although the wind blade manufacturer has yet to reopen its doors and begin operating in its plant on the northeast side of town, the job postings for positions like training specialist and quality inspector, among others, show the company is readying its return to the community. Josh Syhlman, vice president of global services at TPI Composites, told Newton News at this point almost every position the company wants to fill in town is posted already, and the manufacturer has also seen "a ton of success" with recruiting, which began at the start of the New Year. "We started bringing in some roles right after the first of the year, but most of them have been within the last, I'd say, four to six weeks," Syhlman said. TPI Composites has posted about 300 factory and production positions and an additional 120 support staff positions. Recent layoffs at companies like Jeld-Wen have aided in filling some of those positions. Syhlman said at this point the company is on track to begin Newton production on or around May 12. "We're really excited restarting our operations in Newton," Syhlman said. "In the past, we were heavily engaged in the community and volunteer outreach and things like that. We're really excited to not only restart our operations but also reengage in the communities where our associates live." In November 2022, TPI Composites announced it signed a 10-year lease extension with General Electric Renewable Energy to produce wind blades out of its Newton-based manufacturing facility, which had suspended operations at the end of 2021. Production had initially anticipated to return in 2024. When TPI officially suspended its operations, more than 700 employees were without a job. TPI was the largest employer in Jasper County at the time of its closing. It began producing wind blades a year after Maytag was purchased by the Whirlpool Corporation and ceased its longtime Newton operations. To apply for positions at the wind blade manufacturing plant in Newton, visit the company's website at
Yahoo
30-01-2025
- Business
- Yahoo
TPI Composites, Inc. Announces Fourth Quarter and Full Year 2024 Earnings Release Date and Conference Call
SCOTTSDALE, Ariz., Jan. 30, 2025 (GLOBE NEWSWIRE) -- TPI Composites, Inc. ('TPI') (Nasdaq: TPIC) today announced that the company will release its fourth quarter and full year 2024 results after the market close on Thursday, February 20, 2025, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day. The conference call can be accessed live over the phone by dialing 1-800-579-2543, or for international callers, 1-785-424-1789. The Conference ID for the live call is 'TPIC'. A replay will be available two hours after the call and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 11157847. The replay will be available until March 6, 2025. Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investor Relations section of the Company's website at The online replay will be available for a limited time beginning immediately following the call. About TPI Composites, Inc. TPI Composites, Inc. is a global company focused on innovative and sustainable solutions to decarbonize and electrify the world. TPI delivers high-quality, cost-effective composite solutions through long-term relationships with leading OEMs in the wind market. TPI is headquartered in Scottsdale, Arizona and operates factories in the U.S., Mexico, Türkiye and India. TPI operates additional engineering development centers in Denmark and Germany and global service training centers in the U.S. and Spain. Investor Contact:investors@ 480-315-8742Sign in to access your portfolio
