RENO, Nev. (AP) — RENO, Nev. (AP) — Ormat Technologies Inc. (ORA) on Wednesday reported fourth-quarter profit of $40.8 million.
The Reno, Nevada-based company said it had net income of 67 cents per share. Earnings, adjusted for non-recurring costs, came to 72 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The geothermal company posted revenue of $230.7 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $233.7 million.
Ormat Technologies expects full-year revenue in the range of $935 million to $975 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORA at https://www.zacks.com/ap/ORA
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