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RENO, Nev. (AP) — RENO, Nev. (AP) — Ormat Technologies Inc. (ORA) on Tuesday reported first-quarter earnings of $29 million.
On a per-share basis, the Reno, Nevada-based company said it had net income of 51 cents.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The geothermal company posted revenue of $185.2 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $212.4 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ORA">Zacks stock report on ORA at https://www.zacks.com/ap/ORA