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TPI Composites: 3Q Earnings Snapshot

November 8, 2018

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TPIC at https://www.zacks.com/ap/TPIC

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