Ormat Technologies Inc (ORA.N) shares surged 5.20% in intraday trading on Thursday, driven by the renewable energy company's impressive fourth quarter earnings report and positive outlook for 2025.
For the fourth quarter of 2024, Ormat reported adjusted earnings of 72 cents per share, significantly beating analysts' average estimate of 51 cents per share. The company's adjusted core profit also rose to $145.5 million from $139 million a year earlier.
Looking ahead, Ormat provided an upbeat forecast for 2025, projecting adjusted core profit between $563 million and $593 million, compared to analysts' expectations of $587.29 million. The company expects total revenue for 2025 to range from $935 million to $975 million, slightly above the consensus estimate of $959.88 million.
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