Compared to Estimates, Ormat Technologies (ORA) Q3 Earnings: A Look at Key Metrics
Ormat Technologies (ORA) reported $208.06 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 18.3%. EPS of $0.47 for the same period compares to $0.33 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $210.69 million, representing a surprise of -1.25%. The company delivered an EPS surprise of +30.56%, with the consensus EPS estimate being $0.36.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Ormat Technologies performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Product: $39.83 million versus the two-analyst average estimate of $38.73 million. The reported number represents a year-over-year change of +180.2%.
Revenues- Energy storage: $11.01 million compared to the $10.02 million average estimate based on two analysts. The reported number represents a change of +24.5% year over year.
Revenues- Electricity: $157.21 million versus $163.22 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +2.9% change.
Gross profit- Electricity: $50.05 million versus $58.36 million estimated by two analysts on average.
Gross profit- Product: $7.44 million compared to the $7.07 million average estimate based on two analysts.
View all Key Company Metrics for Ormat Technologies here>>>
Shares of Ormat Technologies have returned -5.7% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Ormat Technologies, Inc. (ORA) : Free Stock Analysis Report
