TPI Composites (TPIC) Reports Q3 Earnings: What Key Metrics Have to Say

Core Insights - TPI Composites reported revenue of $380.76 million for the quarter ended September 2024, reflecting a year-over-year increase of 2.1% [1] - The company's EPS was -$ 0.65, an improvement from - $1.71 in the same quarter last year [1] - Revenue exceeded the Zacks Consensus Estimate of$ 346.5 million by 9.89%, while EPS fell short of the consensus estimate of - $0.18 by 261.11% [1] Financial Performance Metrics - Estimated megawatts produced were 2,526, surpassing the average estimate of 2,440 by three analysts [3] - The number of dedicated manufacturing lines remained at 34, matching the average estimate [3] - Utilization rate was reported at 89%, exceeding the average estimate of 80.7% [3] - The number of manufacturing lines installed was 34, consistent with the average estimate [3] - Total sets produced were 601, higher than the average estimate of 591 by two analysts [3] - Net sales from wind blade, tooling, and other wind-related products reached$ 369.08 million, up 1.9% year-over-year and above the average estimate of $338.84 million [3] - Net sales from field service, inspection, and repair services were$ 11.68 million, representing a significant year-over-year increase of 45.8% compared to the average estimate of $9.95 million [3] Stock Performance - TPI Composites' shares have declined by 32.4% over the past month, contrasting with a 3.2% increase in the Zacks S&P 500 composite [4] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [4]