TPI Composites Inc reports results for the quarter ended in March - Earnings Summary

TPI Composites

03/05/2024 01:23

* TPI Composites Inc  TPIC.OQ  reported a quarterly adjusted
loss
of $1.30​​ per share for the quarter ended in March, lower than
the same quarter last year, when the company reported EPS of -88
cents.  The mean expectation of fourteen analysts for the
quarter was for a loss of 74 cents per share. Wall Street
expected results to range from $-1.17 to -53 cents per share.
    * Revenue fell 26% to $299.06 million from a year ago;
analysts
expected $296.28 million. 
    * TPI Composites Inc's reported EPS for the quarter was a
loss of
$1.30​.
    * The company reported a quarterly loss of $61.47 million.
    * TPI Composites Inc shares had risen by 14.4% this
quarter and
lost 19.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 31.3%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 9
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the renewable
energy
equipment & services peer group is also "hold"

Wall Street's median 12-month price target for TPI Composites
Inc is $4.00 
This summary was machine generated from LSEG data May 3 at 12:22
a.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      -0.74          -1.30          Missed
 Dec. 31 2023      -0.88          0.31           Beat
 Sep. 30 2023      -0.59          -1.71          Missed
 Jun. 30 2023      -1.07          -1.90          Missed