Ormat Technologies Q3 Earnings Beat Estimates, Revenues Rise Y/Y

Zacks11-11

Shares of Ormat Technologies Inc. ORA rose 1.5% to $83.13 on Nov. 8, 2024, following the company’s third-quarter 2024 results.Ormat reported third-quarter 2024 adjusted earnings per share of 42 cents,...

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ORA rose 1.5% to $83.13 on Nov. 8, 2024, following the company’s third-quarter 2024 results.Ormat reported third-quarter 2024 adjusted earnings per share of 42 cents,...</p>\n\n<a href=\"https://finance.yahoo.com/news/ormat-technologies-q3-earnings-beat-130900804.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ormat Technologies Q3 Earnings Beat Estimates, Revenues Rise Y/Y</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOrmat Technologies Q3 Earnings Beat Estimates, Revenues Rise Y/Y\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-11 21:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/ormat-technologies-q3-earnings-beat-130900804.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Ormat Technologies Inc. ORA rose 1.5% to $83.13 on Nov. 8, 2024, following the company’s third-quarter 2024 results.Ormat reported third-quarter 2024 adjusted earnings per share of 42 cents,...</p>\n\n<a href=\"https://finance.yahoo.com/news/ormat-technologies-q3-earnings-beat-130900804.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ORA","symbol_name":"奥玛特科技","start_time":0,"source_url":"https://finance.yahoo.com/news/ormat-technologies-q3-earnings-beat-130900804.html","article_id":"2482733317","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/1VKaor.8d9bYcvO1nyOeow--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/f6206b1433a2040570d7364e7915d0b5"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482733317","pubTimestamp":1731330540,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Shares of Ormat Technologies Inc. ORA rose 1.5% to $83.13 on Nov. 8, 2024, following the company’s third-quarter 2024 results.Ormat reported third-quarter 2024 adjusted earnings per share of 42 cents, which beat the Zacks Consensus Estimate of 30 cents by 40%. However, the bottom line declined 10.6% from 47 cents in the year-ago quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The company reported GAAP earnings of 36 cents per share compared with 59 cents in the year-ago quarter.The year-over-year deterioration can be attributed to the absence of tax income that the company registered in the third quarter of 2023 due to changes in Kenya’s tax laws.Ormat Technologies, Inc. Price, Consensus and EPS Surprise. Ormat Technologies, Inc. price-consensus-eps-surprise-chart | Ormat Technologies, Inc. Quote","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"ORA":"奥玛特科技"},"translate_title":"Ormat Technologies第三季度盈利超出预期，收入同比增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ORA":1},"content_text":"Shares of Ormat Technologies Inc. ORA rose 1.5% to $83.13 on Nov. 8, 2024, following the company’s third-quarter 2024 results.Ormat reported third-quarter 2024 adjusted earnings per share of 42 cents, which beat the Zacks Consensus Estimate of 30 cents by 40%. However, the bottom line declined 10.6% from 47 cents in the year-ago quarter.\nStay up-to-date with all quarterly releases: See Zacks Earnings Calendar.\nThe company reported GAAP earnings of 36 cents per share compared with 59 cents in the year-ago quarter.The year-over-year deterioration can be attributed to the absence of tax income that the company registered in the third quarter of 2023 due to changes in Kenya’s tax laws.\n\nOrmat Technologies, Inc. Price, Consensus and EPS Surprise\n  \nOrmat Technologies, Inc. price-consensus-eps-surprise-chart | Ormat Technologies, Inc. Quote\n\nORA’s Total Revenues \nORA generated revenues of $211.8 million, almost in line with the Zacks Consensus Estimate. The top line rose 1.8% year over year, driven by higher revenues from its electricity segment.\nORA’s Segmental Performance \nElectricity: Revenues in this segment amounted to $164.6 million, up 4.7% year over year. This upside was primarily driven by revenue contributions from ORA’s acquired Enel assets and higher generation and pricing at Puna.Product: This segment’s revenues declined 6.2% to $37.4 million from the year-ago quarter’s level. The decline was due to the timing of revenue recognition during the third quarter.Energy: Revenues in this division amounted to $9.8 million, down 11.1% from the prior-year quarter’s figure. This was driven by the absence of higher energy rates realized in ERCOT during the previous year due to an inclement weather event.\nORA’s Operational Update \nOrmat’s total operating expenses were $23.2 million, which increased 3.3% from the year-ago quarter’s level.The operating income declined 5% year over year to $35.7 million.The total cost of revenues was $152.9 million, up 3.3% year over year.Net interest expenses were $34.8 million, up 39% year over year.\nOrmat’s Financial Condition \nORA had cash and cash equivalents of $88.1 million as of Sept. 30, 2024 compared with $195.8 million as of Dec. 31, 2023.\nORA’s 2024 Guidance \nThe company updated its guidance for 2024. It now expects to generate revenues in the range of $875-$893 million, narrower than the prior guidance range of $875-$910 million. The Zacks Consensus Estimate for revenues is pegged at $889.2 million, higher than the midpoint of the newly guided range.Revenues for the Electricity segment are now anticipated in the band of $710-$715 million compared with the prior expectation in the range of $710-$720 million. Product segment revenues are now expected to be in the range of $130-$138 million compared with the earlier projection in the band of $130-$145 million. ORA now expects revenues from the Energy Storage segment between $35 million and $40 million compared with the earlier projection of $35-$45 million.The annual adjusted EBITDA is projected to be in the band of $540-$555 million, up from the prior guidance in the range of $520-$550 million.\nORA’s Zacks Rank \nOrmat currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nRecent Sector Releases \nCNX Resources Corporation CNX reported third-quarter 2024 operating earnings of 41 cents per share, which beat the Zacks Consensus Estimate of 32 cents by 28.1%. The bottom line also increased 17.1% from 35 cents in the year-ago quarter.The company reported revenues of $354 million, which missed the Zacks Consensus Estimate of $398 million by 11.1%. The top line also decreased 0.8% from the prior-year quarter’s $357 million.ONEOK Inc. OKE reported third-quarter 2024 operating earnings per share of $1.18, which missed the Zacks Consensus Estimate of $1.23 by 4.1%. However, the bottom line improved 19.2% from the year-ago figure of 99 cents.Operating revenues totaled $5.02 billion, which missed the Zacks Consensus Estimate of $5.81 billion by 13.5%. However, the top line improved 19.8% from $4.19 billion in the prior-year quarter.TotalEnergies SE TTE reported third-quarter 2024 operating earnings of $1.74 (€1.58) per share, which missed the Zacks Consensus Estimate of $1.84 by 5.4%. The bottom line declined 33.8% from the year-ago figure of $2.63 (€2.41).Total revenues for the third quarter were $47.43 billion, which lagged the year-ago reported revenues of $54.41 billion by 12.8%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nONEOK, Inc. (OKE) : Free Stock Analysis Report\nCNX Resources Corporation. (CNX) : Free Stock Analysis Report\nOrmat Technologies, Inc. (ORA) : Free Stock Analysis Report\nTotalEnergies SE Sponsored ADR (TTE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482733317"}