TPI Composites, Inc. Announces Second Quarter 2020 Earnings Results – Extends Agreements with GE and Adds New Lines for Nordex in India and GE in Mexico - Adds Approximately $800 Million of Potentia

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Go back to TPI Composites, Inc. Announces Second Quarter 2020 Earnings Results – Extends Agreements with GE and Adds New Lines for Nordex in India and GE in Mexico - Adds Approximately $800 Million of Potentia

TPI Composites, Inc. (TPIC) Misses Q2 EPS by $1.65, Revenues Beat

August 6, 2020 4:06 PM EDT

TPI Composites, Inc. (NASDAQ: TPIC) reported Q2 EPS of ($1.87), $1.65 worse than the analyst estimate of ($0.22). Revenue for the quarter came in at $373.8 million versus the consensus estimate of $303.58 million.

For the quarter ended June 30, 2020:

Net sales of $373.8 millionNet loss of $66.1 million or $(1.87) per shareEBITDA loss of $2.6 millionAdjusted EBITDA of $3.3 million

We delivered good financial results in the second quarter growing net sales 13% amidst a challenging operating environment impacted by COVID-19, said Bill Siwek, President and CEO of TPI Composites.

As of today, all of our... More