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tpí COMPOSITES . Source : TPI Composites , Inc. May 06 , 2021 16:01 ET TPI Composites , Inc. Announces First Quarter 2021 Earnings Results - Operational Execution Fuels Double - Digit Net Sales Growth SCOTTSDALE , Ariz . , May 06 , 2021 ( GLOBE NEWSWIRE ) -- TPI Composites , Inc. ( Nasdaq : TPIC ) , the only independent manufacturer of composite wind blades with a global footprint , today reported financial results for the first quarter ended March 31 , 2021 . KPIs Highlights For the quarter ended March 31 , 2021 : • Net sales of $ 404.7 million • Net loss of $ 1.8 million or $ 0.05 per diluted share • EBITDA of $ 5.4 million ● Adjusted EBITDA of $ 13.1 million Sets¹ Estimated megawatts² Utilization 3 Dedicated manufacturing lines4 Manufacturing lines installed5 1Q'21 814 3,072 77 % 50 52 1Q'20 731 2,329 70 % 52 52 1. Number of wind blade sets ( which consist of three wind blades ) produced worldwide during the period . 2. Estimated megawatts of energy capacity to be generated by wind blade sets produced during the period . 3. Utilization represents the percentage of wind blades invoiced during the period compared to the total potential wind blade capacity of manufacturing lines installed during the period . 4. Number of wind blade manufacturing lines that are dedicated to our customers under long - term supply agreements at the end of the period . 5. Number of wind blade manufacturing lines installed and either in operation , startup or transition during the period . " We delivered strong top line and adjusted EBITDA results in the first quarter despite normal seasonality we experience at the beginning of the year , " said Bill Siwek , President and CEO of TPI Composites . " Our vigilance addressing the ongoing COVID - 19 spikes around the world has allowed a safe operating environment for our associates which , in turn , has paid off from an operational and financial perspective as evidenced by our first quarter results . Our team also did an exceptional job this quarter of navigating through some supply chain challenges primarily related to the resin market and ongoing logistics challenges . Our supply chain strategy remains intact as we diversify geographically to reduce risk and provide security of key materials . " The long - term prospects for the wind industry have strengthened both domestically and globally over the past couple months . In the United States , recently announced policy support from Washington D.C. continues to act as a major potential tailwind for the wind industry and the renewable sector . Globally , the carbon emissions reduction commitments continue to increase with stronger pledges from the European Union , the United Kingdom , Canada , Japan , South Korea , and Brazil .