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Compared to Estimates, TPI Composites (TPIC) Q1 Earnings: A Look at Key Metrics

Zacks Equity Research
·2-min read

TPI Composites (TPIC) reported $299.06 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 26%. EPS of -$1.31 for the same period compares to -$0.72 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $299.93 million, representing a surprise of -0.29%. The company delivered an EPS surprise of -81.94%, with the consensus EPS estimate being -$0.72.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how TPI Composites performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Estimated megawatts: 2,050 versus 2,277 estimated by three analysts on average.

  • Utilization: 67% versus the three-analyst average estimate of 63.6%.

  • Manufacturing lines installed: 36 versus 38 estimated by three analysts on average.

  • Dedicated manufacturing lines: 36 versus the three-analyst average estimate of 36.

  • Net Sales- Wind blade, tooling and other wind related: $288.91 million compared to the $287.62 million average estimate based on four analysts. The reported number represents a change of -25.5% year over year.

  • Net Sales- Automotive: $5.02 million versus the three-analyst average estimate of $3.27 million.

  • Net sales- Field service, inspection and repair services: $5.14 million versus the three-analyst average estimate of $12.36 million.

View all Key Company Metrics for TPI Composites here>>>

Shares of TPI Composites have returned +17.7% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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TPI Composites, Inc. (TPIC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research