Ormat Technologies Inc.’s (ORA - Free Report) second-quarter 2018 adjusted earnings per share (EPS) came in at 32 cents, missing the Zacks Consensus Estimate of 48 cents by 33.3%. Earnings also declined 44.8% from the prior-year quarter figure.
Barring one-time items, the company incurred a GAAP loss of a penny per share, in the quarter, against earnings of 17 cents in the year-ago quarter.
Revenues
In the quarter under review, Ormat Technologies generated revenues $178.3 million, beating the Zacks Consensus Estimate of $176 million by 1.3%. However, the top line declined 0.6% on a year-over-year basis.
Segment Revenues
Electricity Segment: Revenues for the segment increased 10.2% year over year to $122.2 million in the reported quarter from $110.9 million. The increase was primarily driven by the commencement of new power plants and the consolidation of USG.
Product Segment: Revenues for the segment decreased 18.7% year over year to $54.9 million from $67.6 million.
Other Segment: Revenues here stood at $1.2 million in the second quarter of 2018 compared with $0.9 million in the prior-year quarter.
Ormat Technologies, Inc. Price, Consensus and EPS Surprise
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Ormat Technologies Inc.’s (ORA - Free Report) second-quarter 2018 adjusted earnings per share (EPS) came in at 32 cents, missing the Zacks Consensus Estimate of 48 cents by 33.3%. Earnings also declined 44.8% from the prior-year quarter figure.
Barring one-time items, the company incurred a GAAP loss of a penny per share, in the quarter, against earnings of 17 cents in the year-ago quarter.
Revenues
In the quarter under review, Ormat Technologies generated revenues $178.3 million, beating the Zacks Consensus Estimate of $176 million by 1.3%. However, the top line declined 0.6% on a year-over-year basis.
Segment Revenues
Electricity Segment: Revenues for the segment increased 10.2% year over year to $122.2 million in the reported quarter from $110.9 million. The increase was primarily driven by the commencement of new power plants and the consolidation of USG.
Product Segment: Revenues for the segment decreased 18.7% year over year to $54.9 million from $67.6 million.
Other Segment: Revenues here stood at $1.2 million in the second quarter of 2018 compared with $0.9 million in the prior-year quarter.
Ormat Technologies, Inc. Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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