Stock Story -
General contracting company Tutor Perini (NYSE:TPC) will be reporting earnings tomorrow after market close. Here's what to look for.
TPI Composites missed analysts' revenue expectations by 2% last quarter, reporting revenues of $299.1 million, down 26% year on year. It was a weaker quarter for the company, with a miss of analysts' earnings estimates and full-year revenue guidance missing analysts' expectations.
Is TPI Composites a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting TPI Composites's revenue to decline 18.7% year on year to $309.8 million, a further deceleration from the 2.9% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.62 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at TPI Composites's peers in the renewable energy segment, some have already reported their Q2 results, giving us a hint as to what we can expect. American Superconductor delivered year-on-year revenue growth of 33.2%, beating analysts' expectations by 2.4%, and Sunrun reported a revenue decline of 11.2%, topping estimates by 1.2%.
Read the full analysis of American Superconductor's and Sunrun's results on StockStory.
Investors in the renewable energy segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. TPI Composites is down 12.2% during the same time and is heading into earnings with an average analyst price target of $5.1 (compared to the current share price of $3.52).
