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TPI Composites: 3Q Earnings Snapshot

·1 min read

SCOTTSDALE, Ariz. (AP) _ TPI Composites Inc. (TPIC) on Thursday reported third-quarter net income of $42.4 million, after reporting a loss in the same period a year earlier.

The Scottsdale, Arizona-based company said it had profit of $1.13 per share. Earnings, adjusted for pretax gains, came to 69 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The maker of composite wind blades posted revenue of $474.1 million in the period.

For the current quarter ending in December, TPI Composites said it expects revenue in the range of $435 million to $455 million.

The company expects full-year revenue in the range of $1.64 billion to $1.66 billion.

TPI Composites shares have more than doubled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $37.44, an increase of 73% 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