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.
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.
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