Ormat (ORA) to Release Q1 Earnings: What's in the Cards?
Ormat Technologies, Inc. ORA is scheduled to report its first-quarter 2023 results on May 9 after the closing bell. Ormat has a trailing four-quarter earnings surprise of 24.56%, on average.
Let’s discuss the factors likely to be reflected in the upcoming quarterly results.
Factors to Note
The improved operational performance across all its segments and a strong backlog provide a positive outlook for the overall top line of the company in the first quarter of 2023. The portfolio expansion strategy and new capacity addition to the geothermal and solar power plants are likely to have been favorable for the revenues of ORA in the soon-to-be-reported quarter.
A strong top line, coupled with increased margins from the newly signed contracts, is likely to have been instrumental for Ormat’sbottom line in the first quarter of 2023. A lower effective tax rate may also have added impetus to its first-quarter earnings.
Expectations
The Zacks Consensus Estimate for first-quarter revenues is pegged at $212.4 million. This suggests growth of 15.6% from the year-ago quarter.
The Zacks Consensus Estimate for first-quarter earnings is pegged at 49 cents per share. This indicates an improvement of 40% from the prior-year reported figure.
Ormat Technologies, Inc. Price and EPS Surprise
Ormat Technologies, Inc. price-eps-surprise | Ormat Technologies, Inc. Quote
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Ormat this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
Earnings ESP: Ormat’s Earnings ESP is +4.62%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Ormat currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are three companies you may want to consider in the same industry as these have the right combination of elements to post an earnings beat this season:
Gevo, Inc. GEVO is expected to post an earnings surprise this quarter. It has an Earnings ESP of +45.46% and a Zacks Rank #3.
The Zacks Consensus Estimate for Gevo’s first-quarter sales is currently pegged at $2.28 million. This implies a year-over-year improvement of 889.1% from the prior-year reported figure.
Canadian Solar Inc. CSIQ currently boasts an Earnings ESP of +51.58% and a Zacks Rank #3. The Zacks Consensus Estimate for CSIQ’s first-quarter sales implies a year-over-year improvement of 33.6% from the prior-year reported figure.
CSIQ delivered an earnings surprise of 131.25% in the last reported quarter. The company has a four-quarter average earnings surprise of 164.3%.
FTC Solar FTCI may exceed earnings expectations this quarter. It currently has an Earnings ESP of +36.84% and a Zacks Rank #3. The Zacks Consensus Estimate for its first-quarter sales is pegged at $38.52 million.
FTCI delivered an earnings surprise of 8.33% in the last quarter. It has a four-quarter average negative earnings surprise of 15.08%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report
Ormat Technologies, Inc. (ORA) : Free Stock Analysis Report
Gevo, Inc. (GEVO) : Free Stock Analysis Report
FTC Solar, Inc. (FTCI) : Free Stock Analysis Report
