Ormat Technologies: 3Q Earnings Snapshot

November 7, 2019 GMT

RENO, Nev. (AP) _ Ormat Technologies Inc. (ORA) on Wednesday reported third-quarter earnings of $15.6 million.

On a per-share basis, the Reno, Nevada-based company said it had profit of 30 cents.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The geothermal company posted revenue of $170.5 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $171.3 million.

Ormat Technologies shares have climbed 46% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $76.38, a rise of 54% in the last 12 months.


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