TPI Composites: 2Q Earnings Snapshot
SCOTTSDALE, Ariz. (AP) _ TPI Composites Inc. (TPIC) on Tuesday reported a second-quarter loss of $4.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Scottsdale, Arizona-based company said it had a loss of 12 cents. Losses, adjusted to extinguish debt, were 4 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The maker of composite wind blades posted revenue of $230.6 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $240.3 million.
TPI Composites expects full-year earnings to be 10 cents to 14 cents per share, with revenue in the range of $1 billion to $1.05 billion.
TPI Composites shares have climbed 49 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $30.51, a climb of 59 percent in the last 12 months.