Shares of Ormat Technologies Inc. ORA rose 3.8% to reach $91.15 on Aug 8, reflecting investors’ optimism following the company's second-quarter 2022 results.The company’s second-quarter adjusted earnings per share came in at 22 cents, which surpassed the Zacks Consensus Estimate of 21 cents by 4.8%.Ormat reported GAAP earnings of 20 cents per share compared with 23 cents generated in the year-ago quarter.The year-over-year decline can be attributed to an after-tax loss related to foreign currency hedging.Ormat Technologies, Inc. Price, Consensus and EPS Surprise Ormat Technologies, Inc. price-consensus-eps-surprise-chart | Ormat Technologies, Inc. QuoteRevenuesIn the quarter under review, ORA generated revenues of $169.1 million, which exceeded the Zacks Consensus Estimate of $160 million by 5.5%. Moreover, the top line increased 15.1% on a year-over-year basis, driven by higher revenues from all of its segments.Segment RevenuesElectricity Segment: Revenues in this segment amounted to $151.2 million in the second quarter, which rose 12.9% year over year.Product Segment: Revenues in this segment surged 40.2% to $10.4 million.Energy Storage Segment: Revenues in this division amounted to $7.5 million, up 33.1% from the prior-year quarter’s figure.Operational UpdateIn the reported quarter, Ormat Technologies’ total operating expenses were $19 million compared with operating expenses of $23.4 million in the second quarter of 2021.The company’s operating income surged 35% year over year to $38.6 million in the second quarter.The company’s total cost of revenues was $111.5 million, up 17.4% year over year.Net interest expenses were $20.4 million, which increased 9.6% year over year.Financial ConditionOrmat Technologies had cash and cash equivalents of $263.4 million as of Jun 30, 2022, compared with $239.3 million as of Dec 31, 2021.GuidanceOrmat Technologies still projects to generate revenues in the range of $710-$735 million in 2022.Adjusted electricity segment revenues are still expected in the band of $630-$640 million, while product segment revenues are anticipated in the range of $50-$60 million. Energy Storage revenues are projected in the range of $30-$35 million.The company continues to anticipate annual adjusted EBITDA in the band of $430-450 million for 2022.Zacks RankOrmat Technologies currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recent Sector ReleasesEnphase Energy, Inc. ENPH reported second-quarter 2022 adjusted earnings of $1.07 per share, which improved a solid 101.9% from 53 cents reported in the prior-year quarter.Enphase Energy’s second-quarter revenues of $530.2 soared 67.7% from the year-ago quarter’s $316.1 million. For the third quarter of 2022, ENPH expects revenues in the range of $590-$630 million.First Solar, Inc. FSLR reported second-quarter 2022 earnings of 52 cents per share, which beat the Zacks Consensus Estimate of 30 cents by 73.3%. However, the bottom line declined from the prior-year quarter’s earnings of 77 cents per share.First Solar’s second-quarter sales were $621 million, which beat the Zacks Consensus Estimate of $599 million by 3.7%.SunPower Corporation SPWR reported second-quarter 2022 adjusted earnings of 3 cents per share. The bottom line marked a deterioration from the year-ago quarter’s earnings of 7 cents per share.SunPower’s adjusted revenues came in at $414.1 million, while its GAAP revenues were $417.8 million. Revenues surpassed the Zacks Consensus Estimate of $363 million by 14%. Want to Know the #1 Semiconductor Stock for 2022? Few people know how promising the semiconductor market is. Over the last couple of years, disruptions to the supply chain have caused shortages in several industries. The absence of one single semiconductor can stop all operations in certain industries. This year, companies that create and produce this essential material will have incredible pricing power. For a limited time, Zacks is revealing the top semiconductor stock for 2022. You'll find it in our new Special Report, One Semiconductor Stock Stands to Gain the Most. Today, it's yours free with no obligation.>>Give me access to my free special report.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Solar, Inc. (FSLR): Free Stock Analysis Report SunPower Corporation (SPWR): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report Ormat Technologies, Inc. (ORA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research