Ormat Technologies Inc reports results for the quarter ended in June - Earnings Summary

Ormat Technologies

07/08/2024 02:23

* Ormat Technologies Inc  ORA.N  reported quarterly adjusted
earnings of 40 cents​​ per share for the quarter ended in June,
identical to the same quarter last year.  The mean expectation
of seven analysts for the quarter was for earnings of 37 cents
per share. Wall Street expected results to range from 24 cents
to 49 cents per share.
    * Revenue rose 9.3% to $212.96 million from a year ago;
analysts
expected $214.14 million. 
    * Ormat Technologies Inc's reported EPS for the quarter was
37
cents​.
    * The company reported quarterly net income of $22.24
million.
    * Ormat Technologies Inc shares had risen by 1.5% this
quarter and
lost 4.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 6.9%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electric
utilities
peer group is also "buy"

Wall Street's median 12-month price target for Ormat
Technologies Inc is $78.50 
This summary was machine generated from LSEG data August 7 at
01:23 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.37           0.40           Beat
 Mar. 31 2024      0.63           0.64           Beat
 Dec. 31 2023      0.59           0.59           Met
 Sep. 30 2023      0.35           0.59           Beat