Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

TPI Acquires Engineering Team From Berlin-Based EUROS Group

Published 07/14/2019, 09:30 PM
Updated 07/09/2023, 06:31 AM

TPI Composites, Inc. (NASDAQ:TPIC) recently announced that it has acquired a team of engineers from the EUROS group. Notably, owned by Senvion, EUROS group is based in Berlin, Germany. The financial details of the transaction have been kept under wraps.

Comprising 20 blade specialists, the acquired team has expertise in tooling, blade design, materials and process technology development. Notably, with the addition of experienced and skilful team, TPI Composites will enhance its technical capabilities, which in turn will support its global operations that spans across the United States, Mexico, Turkey, China and India. As a matter of fact, this move will enable TPI Composites to offer comprehensive blade solutions, with application of the technical expertise in blade engineering and mold design on a larger scale.

Existing Business Scenario

TPI Composites has been grappling with rising costs and expenses. It is worth mentioning here that the company recorded 34.1% year-over-year rise in cost of sales in the first quarter of 2019.

In addition, analysts have become increasingly bearish on the company over the past couple of months. Consequently, the Zacks Consensus Estimate for 2019 loss has widened from 6 cents to 7 cents, while the same for 2020 earnings has trended down from $2.22 to $2.17.



In the past six months, this Zacks Rank #5 (Strong Sell) stock has lost 11.4% against the industry’s increase of 0.3%.

Stocks to Consider

Some better-ranked stocks from the Zacks Industrial Products sector are Roper Technologies, Inc. (NYSE:ROP) , Chart Industries, Inc. (NASDAQ:GTLS) and Flowserve Corporation (NYSE:FLS) . While Roper sports a Zacks Rank #1 (Strong Buy), Chart Industries and Flowserve carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Roper exceeded estimates in each of the preceding four quarters, the average positive earnings surprise being 8.43%.

Chart Industries surpassed estimates thrice in the trailing four quarters, the average positive earnings surprise being 16.56%.

Flowserve outpaced estimates twice in the preceding four quarters, the average earnings surprise being 0.49%.

Wall Street’s Next Amazon (NASDAQ:AMZN)

Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.

Click for details >>



Roper Technologies, Inc. (ROP): Free Stock Analysis Report

Flowserve Corporation (FLS): Free Stock Analysis Report

Chart Industries, Inc. (GTLS): Free Stock Analysis Report

TPI Composites, Inc. (TPIC): Free Stock Analysis Report

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.