TPI Composites: 3Q Earnings Snapshot
SCOTTSDALE, Ariz. (AP) _ TPI Composites Inc. (TPIC) on Wednesday reported third-quarter earnings of $9.5 million.
On a per-share basis, the Scottsdale, Arizona-based company said it had profit of 26 cents. Losses, adjusted for pretax gains, came to 2 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The maker of composite wind blades posted revenue of $255 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $264.3 million.
TPI Composites expects full-year earnings to be 32 cents to 39 cents per share, with revenue in the range of $1 billion to $1.05 billion.
TPI Composites shares have risen 34 percent since the beginning of the year. The stock has climbed 17 percent in the last 12 months.