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Ormat Technologies: Q2 Earnings Snapshot

August 3, 2022 GMT

RENO, Nev. (AP) _ Ormat Technologies Inc. (ORA) on Wednesday reported second-quarter profit of $11.3 million.

The Reno, Nevada-based company said it had net income of 20 cents per share. Earnings, adjusted for non-recurring costs, came to 22 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.

The geothermal company posted revenue of $169.1 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $160.2 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