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Mar 31, 2020
Ormat Q1 2020 Earnings Report
Ormat Technologies reported strong Q1 2020 financial results, driven by the solid performance of its electricity segment.
Key Takeaways
Ormat Technologies reported a decrease in total revenues by 3.5% to $192.1 million, with the electricity segment remaining unchanged at $142.9 million. Net income attributable to the Company's stockholders was $26.0 million, or $0.51 per diluted share. The company is updating its expectations for full-year 2020 due to uncertainty around COVID-19 duration and implications as well as due to the recent update in Puna.
Total revenues were $192.1 million, a decrease of 3.5% compared to Q1 2019.
Electricity segment revenues remained unchanged at $142.9 million compared to Q1 2019.
Net income attributable to the Company's stockholders was $26.0 million, or $0.51 per diluted share.
The company recorded business interruption insurance income of $4.9 million related to the 2018 volcanic eruption in Hawaii.
Revenue by Segment
Forward Guidance
The company is updating its expectations for full-year 2020 due to uncertainty around COVID-19 duration and implications as well as due to the recent update in Puna.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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