Ormat Technologies (ORA) Reports Q4 Revenues Below Estimates; Offers FY18 Revenue Guidance Below Consensus

Note: EPS may not be comparable

Ormat Technologies (NYSE: ORA) reported Q4 revenue for the quarter came in at $166.4 million versus the consensus estimate of $169.12 million.

GUIDANCE

Mr. Angel added, “Beginning in 2018, we anticipate reporting three discrete line items for revenue. We will be adding an “Other” line item, reflecting storage and demand response revenue, in addition to the Electricity and Product segment line items. Additionally, as we have not yet closed the U.S. Geothermal acquisition, we did not include any of the expected financial contribution from this proposed acquisition in our 2018 guidance.”

“We expect full-year 2018 total revenues between $688 million and $712 million with Electricity segment revenues between $500 million and $510 million and Product segment revenues between $180 million and $190 million. Revenues from energy storage and demand response activity are expected to be between $8 million and $12 million.

GUIDANCE:

Ormat Technologies sees FY2018 revenue of $688-712 million, versus the consensus of $751.48 million.

For earnings history and earnings-related data on Ormat Technologies (ORA) click here.

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