Ormat Technologies: Fourth Quarter Earnings Overview

Ormat Technologies Announces Fourth Quarter Financial Results

Ormat Technologies Inc., headquartered in Reno, Nevada, reported a net profit of $31.4 million for the fourth quarter.

Earnings per share reached 50 cents, while adjusted earnings—excluding asset impairment and merger-related expenses—stood at 67 cents per share.

These adjusted earnings were in line with the consensus forecast from four analysts polled by Zacks Investment Research, who also anticipated 67 cents per share.

The company, specializing in geothermal energy, generated $276 million in revenue for the quarter, surpassing analyst expectations of $257.9 million.

For the full year, Ormat Technologies achieved a profit of $123.9 million, or $2.02 per share, with total revenue amounting to $989.5 million.

Looking ahead, the company projects annual revenue between $1.11 billion and $1.16 billion.