Loading...
•
Jun 30, 2024
Ormat Q2 2024 Earnings Report
Demonstrated consistent improvement across all operating segments, highlighting commitment toward continued profitable growth.
Key Takeaways
Ormat Technologies reported strong second-quarter results, demonstrating a track record of translating revenue growth into stronger results across its three operating segments. Total revenues increased by 9.3% year-over-year, with a 45% increase in operating income and a 25% increase in adjusted EBITDA. The company is continuing to make progress in transitioning its Energy Storage business toward becoming a higher-growth segment with improved margins.
Total revenues for the second quarter increased by 9.3% year-over-year, with growth realized across all three operating segments.
Increased profitability in all segments drove a 45% increase in operating income and a 25% increase in adjusted EBITDA.
Full year EBITDA guidance range increased, demonstrating strong execution and confidence in the company’s forward outlook.
The company is targeting a generating portfolio of 2.6 to 2.8 GW by YE 2028.
Revenue by Segment
Forward Guidance
Ormat Technologies provided guidance for 2024. Total revenues are expected to be between $875 million and $910 million. Adjusted EBITDA is expected to be between $520 million and $550 million.
Positive Outlook
- Total revenues of between $875 million and $910 million.
- Electricity segment revenues between $710 million and $720 million.
- Product segment revenues of between $130 million and $145 million.
- Energy Storage segment revenues of between $35 million and $45 million.
- Adjusted EBITDA to be between $520 million and $550 million.
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
Loading earnings performance data...
Loading earnings reaction data...