RENO, Nev. (WR) _ Ormat Applied sciences Inc. (ORA) on Tuesday reported second-quarter revenue of $23 million.
On a per-share foundation, the Reno, Nevada-based firm stated it had web revenue of 45 cents.
The outcomes topped Wall Road expectations. The typical estimate of three analysts surveyed by Zacks Funding Analysis was for earnings of 38 cents per share.
The geothermal firm posted income of $174.9 million within the interval, additionally surpassing Road forecasts. Three analysts surveyed by Zacks anticipated $166.9 million.
Ormat Applied sciences expects full-year income within the vary of $710 million to $725 million.
Ormat Applied sciences shares have fallen 20% for the reason that starting of the 12 months. Within the ultimate minutes of buying and selling on Tuesday, shares hit $59.36, a lower of barely greater than 7% within the final 12 months.