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Ormat Technologies: Q1 Earnings Snapshot

May 2, 2022 GMT

RENO, Nev. (AP) _ Ormat Technologies Inc. (ORA) on Monday reported first-quarter net income of $18.4 million.

The Reno, Nevada-based company said it had profit of 33 cents per share. Earnings, adjusted for non-recurring costs, came to 35 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The geothermal company posted revenue of $183.7 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $174.2 million.

Ormat Technologies expects full-year revenue in the range of $710 million to $735 million.

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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