Benzinga | Feb 24, 2021 04:45PM EST

Recap: Ormat Technologies Q4 Earnings

Shares of Ormat Technologies (NYSE:ORA) moved higher in after-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share were up 62.50% over the past year to $0.39, which beat the estimate of $0.34.

Revenue of $179,382,000 decreased by 6.79% year over year, which missed the estimate of $182,820,000.

Outlook

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

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

Price Action

52-week high: $128.87

52-week low: $53.44

Price action over last quarter: Up 53.92%

Company Description

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.