TPI Composites Kept Losing Money in 2020 -- but What About 2021?
The bigger the windmills are, the harder they fall -- and that was the case with wind turbine blade-manufacturer TPI Composites (NASDAQ: TPIC) after last week's earnings news.
While much of the U.S. economy was caught in economic doldrums last year, TPI's green energy-friendly business seemed to go nowhere but up. Sales grew 16% in comparison to 2019, and operating profit swelled 18%, helping to grow the company's stock price seven-fold from the stock market's March nadir through the TPI stock's peak earlier this month. In Q4 alone, sales grew 10% and operating profit grew 69%, resulting in a $0.14 per-share profit for the quarter that helped pare the year's losses to $0.54 per share.
That profit was unexpectedly good, beating analyst expectations for $0.12 for the quarter, and quarterly sales in the year's final quarter likewise beat estimates. So why did TPI stock crash 20% in response to the earnings news?
Source Fool.com
