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Ormat (ORA) Beats Estimates, Guides Inline
Ormat (ORA), the geothermal gorilla, continues to post very strong quarters despite a tough economy. The company beat both EPS and revenues estimates with about 20% quarter over quarter growth on both. EPS came in at .35/share vs the estimate of .28/share on revenues of $100 million vs the estimate of $92.5 million. 115% revenue growth in the Product Segment drove the quarter’s positive results while the Electricity Segment saw a small decline in revenue growth. The company is guiding FY09 revenues about in line with a range of $382 – $400 vs the analyst estimates of $391 million.
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