TerraForm Power: 3Q Earnings Snapshot
NEW YORK (AP) _ TerraForm Power Inc. (TERP) on Thursday reported a loss of $33.6 million in its third quarter.
On a per-share basis, the New York-based company said it had a loss of 16 cents. Losses, adjusted for costs related to mergers and acquisitions, were 15 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The owner of clean power assets posted revenue of $246 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $252.4 million.
TerraForm Power shares have decreased 1 percent since the beginning of the year. The stock has declined almost 9 percent in the last 12 months.