TPI Composites Q1 2024 GAAP EPS $(1.30) Misses $(0.73) Estimate, Sales $299.062M Beat $296.282M Estimate
Portfolio Pulse from Benzinga Newsdesk
TPI Composites (NASDAQ:TPIC) reported Q1 2024 earnings with a GAAP EPS of $(1.30), missing the $(0.73) estimate by 78.08%, and a 47.73% decrease from last year's $(0.88) per share. Sales were $299.062M, slightly above the $296.282M estimate but 25.99% lower than the previous year's $404.066M.

May 02, 2024 | 8:40 pm
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NEGATIVE IMPACT
TPI Composites reported a significant miss in Q1 2024 EPS and a slight beat in sales, with a notable year-over-year decline in both metrics.
The significant miss in EPS expectations and the year-over-year decline in both earnings and sales suggest a negative short-term impact on TPIC's stock price. The earnings miss, especially by such a large margin, could shake investor confidence, leading to potential sell-offs. Although the sales beat the estimates, the overall decline compared to the previous year might not be enough to offset the negative sentiment generated by the earnings miss.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100