Ormat Technologies: Q1 Earnings Snapshot

RENO, Nev. (AP) — RENO, Nev. (AP) — Ormat Technologies Inc. (ORA) on Wednesday reported first-quarter earnings of $38.6 million.

On a per-share basis, the Reno, Nevada-based company said it had net income of 64 cents. Earnings, adjusted for non-recurring costs, were 65 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.

The geothermal company posted revenue of $224.2 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $224.4 million.

Ormat Technologies expects full-year revenue in the range of $860 million to $910 million.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORA at https://www.zacks.com/ap/ORA