The 10-second takeaway
For the quarter ended March 31 (Q1), Ormat Technologies beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share grew.
Margins increased across the board.
Ormat Technologies reported revenue of $132.4 million. The six analysts polled by S&P Capital IQ hoped for revenue of $110.6 million on the same basis. GAAP reported sales were 35% higher than the prior-year quarter's $97.8 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 $0.18. The six earnings estimates compiled by S&P Capital IQ forecast $0.08 per share. GAAP EPS were $0.17 for Q1 compared to -$0.20 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 30.1%, 1,480 basis points better than the prior-year quarter. Operating margin was 19.4%, 1,620 basis points better than the prior-year quarter. Net margin was 6.0%, 1,520 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $114.4 million. On the bottom line, the average EPS estimate is $0.10.
Next year's average estimate for revenue is $477.6 million. The average EPS estimate is $0.48.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 436 members out of 460 rating the stock outperform, and 24 members rating it underperform. Among 89 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 76 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 outperform, with an average price target of $20.57.
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