Ormat Technologies (ORA) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Ormat Technologies (ORA) reported $194.8 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 15.2%. EPS of $0.40 for the same period compares to $0.22 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $198.47 million, representing a surprise of -1.85%. The company delivered an EPS surprise of +5.26%, with the consensus EPS estimate being $0.38.
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: $33.46 million compared to the $26.29 million average estimate based on two analysts. The reported number represents a change of +221.7% year over year.
Revenues- Energy storage: $6.01 million versus the two-analyst average estimate of $8.67 million. The reported number represents a year-over-year change of -19.8%.
Revenues- Electricity: $155.32 million versus the two-analyst average estimate of $165.59 million. The reported number represents a year-over-year change of +2.7%.
View all Key Company Metrics for Ormat Technologies here>>>
Shares of Ormat Technologies have returned +1% over the past month versus the Zacks S&P 500 composite's +3% 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
