Sales swell at TPI
Blade manufacturer also sees income and earnings rise in Q2 2017
US blade manufacturer TPI Composites boosted sales by 7.8% to $248.2m in the second quarter of 2017, compared with $194.3m in the same three months last year.
The company said the increase was mainly driven by a 36% jump in the number of blades delivered during the period from its plants in China and Mexico plants.
However, the increase was partially offset by a fall in the average sales price of blade models and foreign currency fluctuations.
Net income for the second quarter of 2017 was up to $13.9m, compared with $11.6m last year.
EBITDA also increased, rising to $27.5m from $20.8m from the same period in 2016.
TPI Composites president and chief executive officer Steve Lockard said: “We are pleased with our strong operational and financial performance in the second quarter of 2017 in which we exceeded both our total billings and adjusted EBITDA targets."
Image: TPI Composites