SCOTTSDALE, Ariz. (AP) — SCOTTSDALE, Ariz. (AP) — TPI Composites Inc. (TPIC) on Wednesday reported a loss of $42.5 million in its fourth quarter.
On a per-share basis, the Scottsdale, Arizona-based company said it had a loss of $1.38. Losses, adjusted to account for discontinued operations and non-recurring costs, came to 73 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 80 cents per share.
The maker of composite wind blades posted revenue of $402.3 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $443.7 million.
For the year, the company reported a loss of $65.3 million, or $2.96 per share. Revenue was reported as $1.52 billion.
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
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.