Benzinga | Nov 3, 2020 04:47PM EST

Recap: Ormat Technologies Q3 Earnings

Shares of Ormat Technologies (NYSE:ORA) moved higher by 0.98% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share rose 3.33% over the past year to $0.31, which beat the estimate of $0.28.

Revenue of $158,947,000 declined by 6.78% year over year, which missed the estimate of $163,830,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

The upcoming fiscal year's revenue expected to be between $707,000,000 and $717,000,000.

Recent Stock Performance

52-week high: $87.07

52-week low: $53.44

Price action over last quarter: Up 21.49%

Company Overview

Ormat Technologies derives approximately 80% of its revenue from building and operating geothermal plants and the rest from manufacturing geothermal and recovered energy equipment. Nearly two thirds of its capacity is in the United States, with the balance in Africa and Central America. Nearly all the plants have long-term contracts with local utilities.