Ormat Technologies Reports First Quarter 2020 Financial Results
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Ormat Technologies (ORA) Reports In-Line Q1 EPS, Revenues Beat; Provides FY20 Revenues & Adj. EBITDA Guidance
May 11, 2020 6:28 AM EDTOrmat Technologies (NYSE: ORA) reported Q1 EPS of $0.51, in-line with the analyst estimate of $0.51. Revenue for the quarter came in at $192.1 million versus the consensus estimate of $187 million.
Financial Highlights for the First Quarter of 2020
Total revenues of $192.1 million, down 3.5% compared to Q1 2019;Electricity segment revenues of $142.9 million, unchanged compared to Q1 2019;Electricity segment gross margin was 50.0% compared to 45.7% for Q1 2019;Product segment revenues of $47.4 million, down 9.0% compared to Q1 2019;Product segment backlog was approximately $96.5 million as of May 3, 2020;Energy Storage & Management Services segment revenues of $1.8 million... More