Why TPI Composites Stock Crashed 20% This Morning

Why TPI Composites Stock Crashed 20% This Morning

In its fourth-quarter earnings report, delivered last night, it showed $0.14 in EPS and $465.6 million in quarterly sales, easily beating Wall Street's estimates for $0.12 in profit and $450 million in sales. Full-year sales growth was 16%. TPI still sees "strong long-term demand prospects for wind in the U.S. and globally, driven by economics as well as the acceleration of decarbonization initiatives," and says that "the long-term outlook under a Biden administration [is] very supportive and beneficial to renewables and therefore our business."