Global wind blade manufacturer TPI Composites (NASDAQ:TPIC) will be reporting earnings tomorrow after market hours. Here’s what investors should know.
TPI Composites met analysts’ revenue expectations last quarter, reporting revenues of $309.8 million, down 18.7% year on year. It was a softer quarter for the company, with a miss of analysts’ operating margin estimates.
Is TPI Composites a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting TPI Composites’s revenue to decline 3.5% year on year to $359.6 million, in line with the 3% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.21 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. TPI Composites has missed Wall Street’s revenue estimates six times over the last two years.
Looking at TPI Composites’s peers in the renewable energy segment, some have already reported their Q3 results, giving us a hint as to what we can expect. American Superconductor delivered year-on-year revenue growth of 60.2%, beating analysts’ expectations by 6.1%, and Generac reported revenues up 9.6%, topping estimates by 1%. American Superconductor traded up 4.3% following the results while Generac was also up 2.3%.
Read our full analysis of American Superconductor’s results here and Generac’s results here.
There has been positive sentiment among investors in the renewable energy segment, with share prices up 2.7% on average over the last month. TPI Composites is down 13.9% during the same time and is heading into earnings with an average analyst price target of $5.13 (compared to the current share price of $3.89).
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