Ormat Technologies Goes Red
Ormat Technologies (NYS: ORA) reported earnings on Feb. 23. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Ormat Technologies beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share shrank to a loss.
Gross margins grew, operating margins improved, net margins dropped.
Ormat Technologies reported revenue of $123.7 million. The nine analysts polled by S&P Capital IQ anticipated revenue of $110.6 million on the same basis. GAAP reported sales were 33% higher than the prior-year quarter's $92.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.95. The nine earnings estimates compiled by S&P Capital IQ averaged $0.14 per share. GAAP EPS were -$0.95 for Q4 versus $0.10 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 26.7%, 720 basis points better than the prior-year quarter. Operating margin was 14.0%, 940 basis points better than the prior-year quarter. Net margin was -34.8%, 3,960 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $106.6 million. On the bottom line, the average EPS estimate is $0.09.
Next year's average estimate for revenue is $463.5 million. The average EPS estimate is $0.57.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 445 members out of 470 rating the stock outperform, and 25 members rating it underperform. Among 115 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 102 give Ormat Technologies a green thumbs-up, and 13 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ormat Technologies is hold, with an average price target of $22.11.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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