EXHIBIT 99.1

TPI Composites, Inc. Announces Third Quarter 2022 Earnings Results – Announces Long-term Global Partnership with Vestas, Supply Agreement Extensions with GE, and Signed Lease Extension for Newton, Iowa Plant

SCOTTSDALE, Ariz., Nov. 03, 2022 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (Nasdaq: TPIC), today reported financial results for the third quarter ended September 30, 2022.

“In the third quarter, TPI delivered strong adjusted EBITDA growth and finished the quarter with a cash position of $129 million,” said Bill Siwek, President and CEO of TPI Composites. “We continue to focus on managing our cost structure and efficiently operating our facilities despite a challenging macro backdrop.”

“While the wind industry continues to face near-term challenges, we are working with our customers to be ready to address their capacity needs when demand comes back to the market. Since our last earnings call, we have agreed in principle to a long-term global partner framework agreement with Vestas that aims to provide flexibility and capacity for Vestas while enabling better facility utilization for us in the geographies that we serve Vestas. We have also signed an agreement with GE Renewable Energy that enabled us to secure a ten-year lease extension of our manufacturing facility in Newton, Iowa. Under the agreement, GE and TPI plan to develop competitive blade manufacturing options to best serve GE’s commitments in the U.S. market with production expected to start in 2024.   We have also agreed in principle with GE to extend all our lines in Mexico through 2025 and expect to finalize and execute the contract extensions before the end of this year. Finally, we extended our supply agreement with Enercon for two lines in Türkiye through 2025 and with Nordex for four lines in Türkiye through 2023.”

“Given the near term challenges the wind industry is facing, we are commencing multiple cost saving initiatives to better position us for 2023 and the long term, including optimizing our global manufacturing footprint, reducing headcount primarily in geographies most impacted by demand and reducing or eliminating loss-making operations. While a plan has not yet been initiated and therefore not finalized, we intend to cease production at our Yangzhou, China manufacturing facility in December 2022. We expect to record material restructuring and impairment charges during the three months ended December 31, 2022 with respect to closing this facility, additional headcount reductions in our other manufacturing facilities and corporate functions as well as actions related to loss-making operations. We expect these actions to result in structural cost reductions of approximately $20 million to be realized in 2023 and beyond while continuing to focus on operating efficiencies to drive annual productivity savings of over $20 million per year which we have consistently achieved over the past three years.”

“We remain confident that the mid to long-term prospects for wind energy outweigh any near-term challenges today and we are encouraged by the ongoing broad-based support for the Inflation Reduction Act in the United States and REPowerEU in Europe. Right now, our focus is to best position TPI for the long-term while dealing with the near-term challenges,” concluded Mr. Siwek.

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.
   

Third Quarter 2022 Financial Results

Net sales for the three months ended September 30, 2022, decreased 4.2% to $459.3 million as compared to $479.6 million in the same period in 2021 due to the following:

• Net sales of wind blades decreased by $25.7 million or 5.7% to $425.0 million for the three months ended September 30, 2022, as compared to $450.7 million in the same period in 2021. The decrease was primarily driven by an 11% decrease in the number of wind blades produced due to a temporary production stoppage in one of our Mexico plants as a customer implemented a blade redesign, a brief labor disruption in Türkiye as we worked with the union to resolve inflationary pressures on wages, as well as a reduction in manufacturing lines, transitions of existing lines and currency fluctuations, which were partially offset by a higher average sales price due to the mix of wind blade models produced and the impact of inflation on blade prices.
• Net sales from the manufacturing of precision molding and assembly systems were minimal in the quarter as the number of transitions and new line startups has moderated.
• Transportation sales increased approximately 55% during the three months ended September 30, 2022, as compared to the same period in 2021 primarily due to a 74% increase in volume of composite bus bodies, partially offset by a decrease in other transportation product sales due to changes in the mix of products.
• Field service, inspection and repair service sales increased 73% during the three months ended September 30, 2022, as compared to the same period in 2021, due to an increase in demand for such services.

Total cost of goods sold for the three months ended September 30, 2022, was $450.6 million and included $4.8 million of costs related to lines in transition during the period. This compares to total cost of goods sold for the three months ended September 30, 2021, of $486.7 million and included $4.5 million of costs related to lines in startup and $10.0 million of costs related to lines in transition during the period. Total cost of goods sold as a percentage of net sales decreased by 3.4% during the three months ended September 30, 2022, as compared to the same period in 2021, primarily due to net favorable currency fluctuations, reduced startup and transition costs, and improved operational efficiencies offset by continued operating challenges at our newest Matamoros, Mexico facility. The fluctuating U.S. dollar against the Turkish Lira, Euro, Chinese Renminbi and Mexican Peso had a favorable impact of 8.2% for the three months ended September 30, 2022, on consolidated cost of goods sold as compared to the same period in 2021.

Income taxes reflected a provision of $10.1 million for the three months ended September 30, 2022, as compared to a provision of $8.2 million for the same period in 2021. The increase in the provision was primarily due to the changes in the earnings mix by jurisdiction and a decrease in the U.S. valuation allowance.

Net loss before preferred stock dividends and accretion improved to a loss of $1.5 million for the three months ended September 30, 2022 from a loss of $30.7 million for the three months ended September 30, 2021. Including $14.9 million of preferred stock dividends and accretion, net loss attributable to common stockholders for the quarter was $16.4 million, compared to a net loss of $30.7 million in the same period in 2021.

The net loss per common share was $0.39 for the three months ended September 30, 2022, compared to net loss per common share of $0.83 for the three months ended September 30, 2021.

Adjusted EBITDA for the three months ended September 30, 2022 was $16.4 million as compared to $0.2 million during the same period in 2021. Adjusted EBITDA margin increased to 3.6% as compared to breakeven during the same period in 2021, primarily due to favorable foreign currency fluctuations, reduced startup and transition costs, and improved operating cost efficiencies as compared to the prior period, partially offset by the non-restructuring related operating costs that were associated with the three manufacturing locations where production has stopped and cost challenges at our newest facility in Matamoros.

Capital expenditures were $3.5 million for the three months ended September 30, 2022, as compared to $3.1 million during the same period in 2021. Our capital expenditures primarily relate to machinery and equipment and expansion and improvements to our existing facilities.

We ended the quarter with $129.1 million of unrestricted cash and cash equivalents, and net cash was $67.0 million as compared to net cash of $167.5 million as of December 31, 2021. We used $25.9 million of cash from operating activities primarily due to improving the health of our supply chain and timing impacts from the Türkiye labor disruption and the temporary production suspension in Mexico, and had negative free cash flow of $29.4 million. Net cash used in financing activities increased by $24.7 million for the three months ended September 30, 2022, as compared to the same period in 2021, primarily as a result of decreased borrowings and increased repayments on outstanding borrowings.

Conference Call and Webcast Information

TPI Composites will host an investor conference call this afternoon, Thursday, November 3^rd, at 5:00 pm ET. Interested parties are invited to listen to the conference call which can be accessed live over the phone by dialing 1-877-232-4484, or for international callers, 1-212-231-2921. 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 live call and the replay is 22020922. The replay will be available until November 10, 2022. Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investors section of the Company’s website at www.tpicomposites.com. 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 and transportation markets. TPI is headquartered in Scottsdale, Arizona and operates manufacturing facilities in the U.S., China, 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.

Forward-Looking Statements

This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements, among other things, concerning: growth of the wind energy and electric vehicle markets and our addressable markets for our products and services; the impact of the COVID-19 pandemic on our business, effects on our financial statements and our financial outlook; our business strategy, including anticipated trends and developments in and management plans for our business and the wind industry and other markets in which we operate; competition; future financial results, operating results, revenues, gross margin, operating expenses, profitability, products, projected costs, warranties, our ability to improve our operating margins, and capital expenditures. These forward-looking statements are often characterized by the use of words such as “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “seek,” “believe,” “forecast,” “foresee,” “likely,” “may,” “should,” “goal,” “target,” “might,” “will,” “could,” “predict,” “continue” and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on our current expectations and our projections about future events. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the matters discussed in “Risk Factors,” in our Annual Report on Form 10-K and other reports that we will file with the SEC.

Non-GAAP Definitions
This press release includes unaudited non-GAAP financial measures, including EBITDA, adjusted EBITDA, net cash (debt) and free cash flow. We define EBITDA as net income (loss) plus interest expense (including losses on the extinguishment of debt and net of interest income), income taxes and depreciation and amortization. We define adjusted EBITDA as EBITDA plus any share-based compensation expense, any foreign currency income or losses, any gains or losses on the sale of assets and asset impairments and any restructuring charges. We define net cash (debt) as the total unrestricted cash and cash equivalents less the total principal amount of debt outstanding. We define free cash flow as net cash flow from operating activities less capital expenditures. We present non-GAAP measures when we believe that the additional information is useful and meaningful to investors. Non-GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies. The presentation of non-GAAP financial measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with GAAP. See Table Four for a reconciliation of certain non-GAAP financial measures to the comparable GAAP measures.

Investor Relations
480-315-8742
Investors@TPIComposites.com

Exhibit 99.2

Q3 2022 Earnings Call November 3, 2022

Legal Disclaimer Q3 2022 Earnings Call November 3, 2022 2 This presentation contains forw ard - looking statements w ithin the meaning of the federal securities law . All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future oper ations, are forw ard - looking statements. In many cases, you can identify forw ard - looking statements by terms such as “may,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “ believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar w ords. Forw ard - looking statements contained in this presentation include, but are not limited to, statements about: i. competition from other w ind blade and w ind blade turbine manufacturers; ii the discovery of defects in our products and our ability to estimate the future cost of w arranty campaigns; iii. the current state of the w ind energy market and our addressable market; iv. our ability to absorb or mitigate of inflation, including rising labor w ages, as w ell as the impact of price increases in resin, carbon reinforcements (or fiber), other raw materials and related logistics costs that w e use to produce our products; v. our ability to procure adequate supplies of raw materials and components in a cost - effective manner to fulfill our volume commitments to our customers; vi. the potential impact of the increasing prevalence of auction - based tenders in the w ind energy market and increased competition from solar energy on our gross margins and overall financial performance; vii. our future financial performance, including our net sales, cost of goods sold, gross profit or gross margin, operating expenses, ability to generate positive cash flow , and ability to achieve or maintain profitability; viii. changes in domestic or international government or regulatory policy, including w ithout limitation, changes in trade policy; ix. changes in global economic trends and uncertainty, geopolitical risks, and demand or supply disruptions from global events; x. the potential impact of the COVID - 19 pandemic on our business and results of operations; xi. the sufficiency of our cash and cash equivalents to meet our liquidity needs; xii. our ability to attract and retain customers for our products, and to optimize product pricing; xiii. our ability to effectively manage our strategy and future expenses, including our startup and transition costs; xiv. our ability to successfully expand in our existing w ind energy markets and into new international w ind energy markets, including our ability to expand our field service inspection and repair services business and manufacture w ind blades for offshore w ind energy projects; xv. our ability to successfully open new manufacturing facilities and expand existing facilities on time and on budget; xvi. the impact of the pace of new product and w ind blade model introductions on our business and our results of operations; xvii. our ability to successfully expand our transportation business and execute upon our strategy of entering new markets outside of w ind energy; xviii. our ability to maintain, protect and enhance our intellectual property; xix. our ability to comply w ith existing, modified or new law s and r egulations applying to our business, including the imposition of new taxes, duties or similar assessments on our products; xx. the attraction and retention of qualified employees and key personnel; xxi. our ability to maintain good w orking relationships w ith our employees, and avoid labor disruptions, strikes and other disputes w ith labor unions that represent certain of our employees; and xxii. the potential impact of one or more of our customers becoming bankrupt or insolvent, or experiencing other financial problems. These forward - looking statements are only predictions. These statements relate to future events or our future financial performance and involve know n and unknow n risks, uncertainties and other important factors that may cause our actual results, levels of activity, performance or achievements to materially differ fromany future results, levels of activity, performance or achievements expressed or implied by these forward - looking statements. Because forward - looking statements are inherently subject to risks and uncertainties, some of w hich cannot be predicted or quantified, you should not rely on these forward - looking statements as guarantees of future events. Further information on the factors, risks and uncertainties that could affect our financial results and the forward - looking statements in this presentation are included in our filings w ith the Securities and Exchange Commission and w ill be included in subsequent periodic and current reports w e make w ith the Securities and Exchange Commission fromtime to time, including in our Annual Report on Form 10 - K for the year ended December 31, 2021, filed w ith the Securities and Exchange Commission. The forw ard - looking statements in this presentation represent our view s as of the date of this presentation. We anticipate that subsequent events and developments w ill cause our view s to change. How ever, while we may elect to update these forward - looking statements at some point in the future, w e undertake no obligation to update any forward - looking statement to reflect events or developments after the date on w hich the statement is made or to reflect the occurrence of unanticipated events except to the extent required by applicable law . You should, therefore, not rely on these forward - looking statements as representing our views as of any date after the date of this presentation. Our forw ard - looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, or investments w e may make. This presentation includes unaudited non - GAAPfinancial measures including EBITDA, adjusted EBITDA, net cash (debt) and free cash flow. We define EBITDA as net income (loss) plus interest expense (including losses on the extinguishment of debt and net of interest income), income taxes and depreciation and amortization. We define adjusted EBITDA as EBITDA plus any share - based compensation expense, any foreign currency income or losses, any gains or losses on the sale of assets and asset impairments and any restructuring charges. We define net cash (debt) as total unrestricted cash and cash equivalents less the total principal amount of debt outstanding. We define free cash flow as net cash flow fromoperating activities less capital expenditures. We present non - GAAPmeasures when we believe that the additional information is useful and meaningful to investors. Non - GAAPfinancial measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies. The presentation of non - GAAPfinancial measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with GAAP. See the Appendix for the reconciliations of certain non - GAAPfinancial measures to the comparable GAAPmeasures. This presentation also contains estimates and other information concerning our industry that are based on industry publications, surveys and forecasts. This information involves a number of assumptions and limitations, and w e have not independently verified the accuracy or completeness of the information.

Agenda Q3 2022 Earnings Call November 3, 2022 3 • Q3 2022 Highlights and Business Update • Q3 2022 Financial Highlights and 2022 Guidance • Wrap Up • Q&A • Appendix – Non - GAAP Financial Information

Q3 2022 Highlights and Business Update November 3, 2022 4

Third Quarter 2022 Highlights Net Sales and Adjusted EBITDA ($ in millions) • Operating results and year - over - year comparisons to 2021: – Net sales decreased 4.2% to $459.3 million for the quarter – Net loss for the quarter was $1.5 million compared to $30.7 million in the same quarter last year – Net loss attributable to common stockholders for the quarter was $16.4 million compared to $30.7 million in the same quarter last year – Adjusted EBITDA for the quarter was $16.4 million • Extended Enercon and Nordex agreements in Türkiye • Signed agreement with GE that enabled long - term lease extension in Iowa • Agreed in principle to extend GE agreements in Mexico through 2025 • Agreed in principle to long - term global framework agreement with Vestas • Rightsizing and optimizing organization to position for 2023 and beyond (1) See Appendix for reconciliations of non - GAAP financial data. $480 $459 $0 $250 $500 Net Sales $0.2 Q3 2022 Earnings Call November 3, 2022 5 $16.4 $0 3Q21 3Q22 3Q21 3Q22 $5 $10 $15 $20 Adjusted EBITDA (1)

• Global Operations • Global Service • Transportation • Supply Chain • Wind Market Business Update Q3 2022 Earnings Call November 3, 2022 6

Q3 2022 Financial Highlights and 2022 Guidance November 3, 2022 7

Third Quarter 2022 Financial Highlights (unaudited) Key Highlights • 5.8% increase in the average selling price per blade • 90 fewer sets produced compared to 2021 • Utilization of 80% compared to 76% in 2021 • Adjusted EBITDA includes $3 million of non - recurring shut down costs (in thousands, except per share data) 2022 2021 % Net sales $459,271 $479,599 - 4.2% Cost of sales $445,778 $472,188 - 5.6% Startup and transition costs $ 4,821 $ 14,541 - 66.8% Total cost of goods sold $450,599 $486,729 - 7.4% Gross profit (loss) $ 8,672 $ (7,130) NM General and administrative expenses $ 8,030 $ 8,185 - 1.9% Foreign currency income (loss) $ 11,362 $ 3,958 187.1% Income tax provision $ (10,111) $ (8,248) - 22.6% Net loss $ (1,467) $ (30,677) 95.2% Key Statement of Operations Data (1) See Appendix for reconciliations of non - GAAP financial data. Q3 2022 Earnings Call November 3, 2022 8 Change Preferred stock dividends and accretion Net loss attributable to common stockholders Weighted - average common shares outstanding (diluted) $ (14,976) $ - NM $ (16,443) $ (30,677) 46.4% 41,984 37,052 Net loss per common share: $ (0.39) $ (0.83) Non - GAAP Metric Adjusted EBITDA (1) (in thousands) $ 16,365 $ 179 NM Adjusted EBITDA Margin Key Performance Indicators (KPIs) 3.6% 0.0% 360 bps Sets produced 740 830 (90) Estimated megawatts 3,164 3,395 (231) Utilization 80% 76% 370 bps Dedicated wind blade manufacturing lines 43 54 11 lines Wind blade manufacturing lines installed 43 54 11 lines Three Months Ended September 30,

Third Quarter 2022 Financial Highlights – Continued (unaudited) Key Highlights • $129 million of unrestricted cash as of – Timing impact from the Türkiye labor disruption Temporary production suspension in Mexico as one of our OEM’s implemented a blade design change Key Balance Sheet Data September 30, December 31, (in thousands) 2022 2021 Cash and cash equivalents $ 129,137 $ 242,165 Accounts receivable $ 184,029 $ 157,804 Contract assets $ 211,726 $ 188,323 Operating lease right of use assets $ 147,081 $ 137,192 Total operating lease liabilities - current Net cash used in operating activities $ (25,934) $ (24,986) Less capital expenditures $ 3,482 $ 3,079 – Free cash flow $ (29,416) $ (28,065) and noncurrent Accounts payable and accrued expenses $ 154,470 $ 308,915 $ 169,160 $ 336,697 September 30, 2022 Total debt - current and noncurrent, net $ 62,121 $ 74,646 Net cash $ 67,016 $ 167,519 • Third quarter use of cash due primarily to: Three Months Ended Key Cash Flow Data September 30, – Improving health of supply chain (in thousands) 2022 2021 (1) See Appendix for reconciliations of non - GAAP financial data. Q3 2022 Earnings Call November 3, 2022 9

2022 Guidance Dedicated Manufacturing Lines Wind Blade Set Capacity Utilization % Q3 2022 Earnings Call November 3, 2022 10 Average Sales per Blade Capital Expenditures 43 3,710 80% to 85% $170,000 to $180,000 $15 million to $20 million

Wrap up November 3, 2022 11

Q3 2022 Earnings Call November 3, 2022 12 Wrap Up • Announced the extended Enercon and Nordex agreements, long - term lease extension in Iowa, and agreements in principle to extend GE contracts in Mexico through 2025 and a long - term global framework agreement with Vestas • Expect 2023 wind blade demand to be down compared to 2022 due to inflationary pressures and need for clear regulatory guidance • Manage business through near - term challenges facing the industry • Focus on liquidity and cost management/reduction • Position TPI as the preferred global solution provider to our customers • Thanks to our associates for their commitment and dedication to TPI and our mission to decarbonize and electrify

Q&A November 3, 2022 13

Appendix – Non - GAAP Financial Information November 3, 2022 14 This presentation includes unaudited non - GAAP financial measures including EBITDA, adjusted EBITDA, net cash (debt) and free cash flow . We define EBITDA as net income (loss) plus interest expense (including losses on the extinguishment of debt and net of interest income), income taxes and depreciation and amortization. We define Adjusted EBITDA as EBITDA plus any share - based compensation expense, any foreign currency income or losses, any gains or losses on the sale of assets and asset impairments and any restructuring charges. We define net cash (debt) as total unrestricted cash and cash equivalents less the total principal amount of debt outstanding. We define free cash flow as net cash flow from operating activities less capital expenditures. We present non - GAAP measures when w e believe that the additional information is useful and meaningful to investors. Non - GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies. The presentation of non - GAAP financial measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance w ith GAAP. See below for a reconciliation of certain non - GAAP financial measures to the comparable GAAP measures.

Q3 2022 Earnings Call November 3, 2022 15 Net cash is reconciled as follows: Free cash flow is reconciled as follows: (in thousands) 2022 2021 Net cash used in operating activities $ (25,934) $ (24,986) Less capital expenditures (3,482) (3,079) Free cash flow $ (29,416) $ (28,065) Three Months Ended September 30, September 30, December 31, (in thousands) 2022 2021 Cash and cash equivalents $ 129,137 $ 242,165 Less total debt (62,121) (74,646) Net cash $ 67,016 $ 167,519 (in thousands) 2022 2021 Net loss attributable to common stockholders $ (16,443) $ (30,677) Preferred stock dividends and accretion 14,976 - Net loss (1,467) (30,677) Adjustments: Depreciation and amortization 10,726 13,289 Interest expense, net 1,149 2,662 Income tax provision 10,111 8,248 EBITDA 20,519 (6,478) Share - based compensation expense 3,724 1,943 Foreign currency loss (income) (11,362) (3,958) Loss on sale of assets and asset impairments 3,571 7,250 Restructuring charges, net (87) 1,422 Adjusted EBITDA $ 16,365 $ 179 Non - GAAP Reconciliations (unaudited) EBITDA and adjusted EBITDA are reconciled as follows: Three Months Ended September 30,