Ormat Technologies Earnings: Everything You Must Know Now

Ormat Technologies Inc. (NYSE:ORA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

Markets are at 5-year highs! Discover the best stocks to own. Click here for our fresh Feature Stock Pick now!

Ormat Technologies Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 52.94% to $0.26 in the quarter versus EPS of $0.17 in the year-earlier quarter.

Revenue: Decreased 8.04% to $121.71 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Ormat Technologies Inc. reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0.04. It beat the average revenue estimate of $121.36 million.

Quoting Management: Dita Bronicki, Chief Executive Officer of Ormat, stated: “Since the beginning of the year, we have achieved significant milestones that will further improve both segments performance. Our 2013 organic growth plan to reach 637 MW is on schedule. The 36 MW Plant 2 in the Olkaria III complex in Kenya reached commercial operation bringing the total capacity of our portfolio to 611 MW, and we are progressing with the construction of Heber Solar and Wild Rose projects that we expect to complete by the end of 2013. In 2014, we plan to bring on line plant 3 at the Olkaria III complex increasing its capacity to approximately 100 MW.”

Key Stats (on next page)…

Revenue increased 4.85% from $116.08 million in the previous quarter. EPS increased to $0.26 in the quarter versus EPS of $-4.91 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.16 and has not changed. For the current year, the average estimate has moved down from a profit of $0.74 to a profit of $0.57 over the last ninety days.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

More Articles About:   , ,  

More from The Cheat Sheet