RENO, Nev. (AP) — RENO, Nev. (AP) — Ormat Technologies Inc. (ORA) on Wednesday reported first-quarter earnings of $44.1 million.
On a per-share basis, the Reno, Nevada-based company said it had profit of 71 cents. Earnings, adjusted for non-recurring costs, came to $1.30 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The geothermal company posted revenue of $403.9 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $349.3 million.
Ormat Technologies expects full-year revenue in the range of $1.11 billion to $1.16 billion.
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