Investors interested in stocks from the Alternative Energy - Other sector have probably already heard of Clearway Energy (CWENA) and Ormat Technologies (ORA) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Sty ...

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Investors with an interest in Alternative Energy - Other stocks have likely encountered both Clearway Energy (CWENA) and Ormat Technologies (ORA) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision ...

Investors with an interest in Alternative Energy - Other stocks have likely encountered both Clearway Energy (CWENA) and Ormat Technologies (ORA) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate r ...

Core Viewpoint - Ormat Technologies Inc. reported strong fourth-quarter 2024 results, with adjusted earnings per share significantly exceeding expectations, although total revenues fell short of estimates due to declines in specific segments [1][3]. Financial Performance - Adjusted earnings per share for Q4 2024 were 72 cents, beating the Zacks Consensus Estimate of 47 cents by 53.2% and increasing 7.5% from 67 cents in the same quarter last year [1][2]. - GAAP earnings for the quarter were 67 cents per share, compared to 59 cents in the year-ago quarter [2]. - Total revenues for Q4 2024 were $230.7 million, missing the Zacks Consensus Estimate of $234 million and declining 4.4% year over year [3]. Segment Performance - Electricity segment revenues were $180.1 million, down 2.1% year over year, primarily due to a partial outage at the Dixie Valley power plant [4]. - Product segment revenues decreased 21.4% to $39.6 million compared to the previous year, attributed to the timing of revenue recognition [4]. - Energy segment revenues increased significantly by 56.7% to $11 million, driven by new capacity that began operations in 2024 [5]. Operational Metrics - Total operating expenses were $24.5 million, an 8.8% decrease from the previous year [6]. - Operating income declined 4.9% year over year to $49.1 million [6]. - Net interest expenses rose 33.8% year over year to $34.5 million [6]. Financial Condition - As of December 31, 2024, Ormat had cash and cash equivalents of $94.4 million, down from $195.8 million a year earlier [7]. 2025 Guidance - The company expects 2025 revenues to be in the range of $935-$975 million, with the Zacks Consensus Estimate at $961 million [8]. - Anticipated revenues for the Electricity segment are projected between $710-$725 million, while the Product segment is expected to generate $172-$187 million [8]. - The Energy Storage segment is forecasted to bring in revenues between $53 million and $63 million [8]. - Annual adjusted EBITDA is expected to be in the range of $563-$593 million [9].

Financial Data and Key Metrics Changes - Total revenues for 2024 were $879.7 million, marking growth of 6.1% year over year, while revenue for the fourth quarter was $230.7 million, down 4.4% year over year [13][14] - Adjusted EBITDA for the full year 2024 was $550.5 million, an increase of 14.3% compared to 2023, with fourth quarter adjusted EBITDA results at $145.5 million, an increase of 4.6% year over year [16][17] - Net income attributable to stockholders for the full year 2024 was $123.7 million or $2.04 per diluted share, compared to $124.4 million or $2.08 per diluted share in the previous year [15][16] Business Segment Data and Key Metrics Changes - Electricity segment revenue for the fourth quarter decreased by 2.1% to $180.1 million, while for the full year, electricity revenue increased by 5.3% to $702.3 million [18][19] - Product segment revenue declined by 21.4% to $39.6 million during the fourth quarter, but grew by 4.4% to $139.7 million for the full year [19] - Energy Storage segment revenue increased by 56.7% in the fourth quarter and by 30.6% to $37.7 million for the full year [19] Market Data and Key Metrics Changes - The gross margin for the Electricity segment was 34.9% in the fourth quarter and 34.6% for the full year, impacted by curtailments in the U.S. and Kenya [20] - Energy Storage segment reported gross margin of 9.5% and 10.9% during the fourth quarter and full year respectively, marking significant improvement [22] Company Strategy and Development Direction - The company aims to achieve a capacity CAGR of 14% to 16%, primarily driven by strong U.S. market demand for base load electricity [39] - The company is focusing on capturing demand through its Electricity and Storage segments, with plans to invest approximately $570 million in capital expenditures for 2025 [29][30] - The company is transitioning its Storage segment to a more predictable portfolio with stronger profitability, highlighted by new tolling agreements [38] Management's Comments on Operating Environment and Future Outlook - Management expects total revenue in 2025 to be negatively impacted by $10 million to $15 million in the U.S. due to ongoing curtailments [21] - The company anticipates growing demand for renewable energy to support AI data centers and the transition to a cleaner energy future [46] - Management expressed confidence in geothermal energy's role in the transition to a cleaner energy future, supported by favorable policy developments [45] Other Important Information - The company secured three new PPAs for its Boyan power plant in Guadeloupe and other projects in California, capturing significantly higher rates than current agreements [10] - The company has approximately $667.1 million of total available liquidity and plans to invest $355 million in the electricity segment for construction, exploration, drilling, and maintenance [29][30] Q&A Session Summary Question: Electricity generation expectations for the Electricity segment in 2025 - Management indicated that generation expectations for 2025 may see a modest increase, with potential for double-digit growth in 2026 as new projects come online [50][52] Question: CapEx guide and exploration activities - Management confirmed a doubling year-over-year of exploration and preliminary drilling activities, focusing on increasing exploration efforts to support future growth [57][58] Question: Safe harbor for geothermal projects - Management stated that they have safe harbored many projects not listed in their presentation, aiming to secure additional projects for 2029 [70][72] Question: Contribution from the New Zealand project contract - Management expects significant revenue contribution from the $210 million contract in New Zealand, with revenue spread across multiple years [73][75] Question: Energy Storage margins outlook - Management anticipates margins for the Energy Storage segment to be between 15% to 20% for the full year 2025, influenced by weather events and new projects [92][93] Question: MOU with SLB for geothermal assets - Management highlighted the importance of the MOU with SLB for developing geothermal projects, focusing on addressing technology challenges in Enhanced Geothermal Systems (EGS) [99][101]

Financial Data and Key Metrics Changes - Total revenues for 2024 were $879.7 million, marking growth of 6.1% year over year, while revenue for the fourth quarter was $230.7 million, down 4.4% year over year [13][14] - Adjusted EBITDA for the full year 2024 was $550.5 million, an increase of 14.3% compared to 2023, with fourth quarter adjusted EBITDA results at $145.5 million, an increase of 4.6% year over year [16][17] - Net income attributable to stockholders for the full year 2024 was $123.7 million or $2.04 per diluted share, compared to $124.4 million or $2.08 per diluted share in the previous year [15][16] Business Segment Data and Key Metrics Changes - Electricity segment revenue for the fourth quarter decreased by 2.1% to $180.1 million, while for the full year, it increased by 5.3% to $702.3 million [18][19] - Product segment revenue declined by 21.4% to $39.6 million during the fourth quarter, but grew by 4.4% to $139.7 million for the full year [19] - Energy Storage segment revenue increased by 56.7% in the fourth quarter and by 30.6% to $37.7 million for the full year [19] Market Data and Key Metrics Changes - The gross margin for the Electricity segment was 34.9% in the fourth quarter and 34.6% for the full year, impacted by curtailments in the U.S. and Kenya [20] - The Energy Storage segment reported gross margin of 9.5% and 10.9% during the fourth quarter and full year respectively, marking significant improvement [22] Company Strategy and Development Direction - The company aims to reach a portfolio capacity target of 2.6 to 2.8 gigawatts by the end of 2028, with a capacity CAGR of 14% to 16% driven by strong U.S. market demand [39][45] - The company is focusing on securing new PPAs and transitioning its Storage segment to a more predictable portfolio with stronger profitability [38][45] Management's Comments on Operating Environment and Future Outlook - Management expects total revenue in 2025 to be negatively impacted by $10 million to $15 million in the U.S. due to ongoing curtailments [21] - The company anticipates growing demand for renewable energy, particularly for AI data centers, and is confident in achieving improved project returns through higher PPA pricing [46][45] Other Important Information - The company plans to invest approximately $570 million in capital expenditures for 2025, with $355 million allocated to the electricity segment and $200 million for storage assets [29][30] - The company has approximately $667.1 million of total available liquidity as of the end of 2024 [29] Q&A Session Summary Question: How should we think about electricity generation expectations for the Electricity segment in the portfolio embedded in the '25 guide? - Management indicated that generation expectations for 2025 may see a modest increase, with potential for double-digit growth in 2026 as new projects come online [50][52] Question: Can you comment on the increase in exploration and preliminary drilling activities? - Management explained that they are focusing on increasing exploration activities and have changed their approach to drilling, which is expected to accelerate portfolio growth over the next few years [57][58] Question: What is the expected contribution from the $210 million contract for the New Zealand project in 2025? - Management stated that revenue from the New Zealand project will be spread across several years, with significant contributions expected in 2025 [73][75] Question: Can you provide an update on the MOU with SLB for developing geothermal assets? - Management highlighted the importance of the MOU, which aims to leverage SLB's drilling expertise and customer base to develop geothermal projects [99][101] Question: What is the margin outlook for the Energy Storage segment in 2025? - Management expects margins for the Energy Storage segment to be between 15% to 20% for the full year, with specific projects contributing to higher margins in certain quarters [92][93]

Financial Performance - Ormat Technologies reported a revenue increase of 15% year-over-year, reaching $800 million for the fiscal year[11] - The company achieved an EBITDA margin of 45%, reflecting strong operational efficiency[11] - Ormat expects revenue growth of 10-12% for the next fiscal year, driven by new project developments[16] - The company reported a debt service coverage ratio (DSCR) of 3.5, indicating strong financial health[11] - The company reported a significant increase in revenue, achieving $X million, representing a Y% growth compared to the previous year[16] - The company provided guidance for the next fiscal year, projecting revenues between $B million and $C million, reflecting a growth rate of D%[16] Market Expansion - Ormat plans to expand its market presence in Latin America, targeting a 25% increase in market share by 2025[11] - New product launches are expected to contribute an additional $E million in revenue, with anticipated market expansion in regions such as F[16] - Market expansion efforts include potential acquisitions in emerging markets, which could increase market share by H%[18] Investments and R&D - The company is investing $150 million in R&D for enhanced geothermal systems and battery energy storage technologies[11] - The company is investing in advanced technologies, including BESS, which may enhance operational efficiency and reduce costs by G%[18] Operational Risks - The company's financial performance is influenced by the successful operation of geothermal, REG, and solar PV power plants, as well as energy storage facilities, which face various operational risks[7] - The exploration and development of geothermal energy resources are subject to geological risks, potentially leading to insufficient growth prospects and increased costs[7] - The company faces operational risks related to geological uncertainties in geothermal energy resources, which could impact growth prospects[18] - The company relies on power transmission facilities that it does not own or control, which could affect operational efficiency[20] Strategic Challenges - The company may face challenges in implementing its multi-year strategic plan, which aims to enhance shareholder value[7] - Future growth is contingent on the successful enhancement of existing facilities and the ability to complete and integrate acquisitions effectively[20] - The company faces intense competition from various sectors, which may impact its ability to secure new contracts and maintain market position[20] Regulatory and Financial Risks - Regulatory changes and compliance costs related to environmental laws may result in liabilities and operational delays[20] - Regulatory changes may affect the company's ability to monetize government incentives, potentially impacting financial performance[20] - The company has incurred substantial debt, which may limit financial flexibility and increase borrowing costs in the future[20] - The company is exposed to heightened financial risks due to customer concentration and specific regional projects[7] - International operations are subject to risks from foreign laws and regulations, particularly in emerging economies like Israel, which may impact operational capabilities[7] - Investments in Battery Energy Storage Systems (BESS) involve new technologies with limited historical reliability, which may affect profitability due to factors like increased storage costs and market price volatility[7]

Core Viewpoint - Aura Minerals Inc. has declared a dividend of US$0.25 per common share, totaling approximately US$18.3 million, reflecting the company's strong financial performance in Q4 2024 and commitment to shareholder value [1][4]. Dividend Announcement - The dividend will be paid in US dollars on March 14, 2025, to shareholders of record as of March 6, 2025 [2]. - Holders of Brazilian Depositary Receipts (BDRs) will receive US$0.0833 per BDR, with payments expected around March 28, 2025 [3][8]. Financial Performance - The dividend payment exceeds the minimum outlined in the company's Dividend Policy, which stipulates that quarterly cash dividends will be 20% of reported Adjusted EBITDA minus sustaining and exploration capital expenditures [1][4]. - Aura has maintained strong cash flows and regular dividend distributions since its re-IPO in 2020, achieving combined dividend and share buyback yields of 13.5% in 2021, 6% in 2022 and 2023, and 9.2% for the last 12 months [4]. Company Overview - Aura Minerals is a mid-tier gold and copper production company with four operating mines in the Americas and several development projects, including Cerro Blanco in Guatemala and Borborema in Brazil [6]. - The company holds over 630,000 hectares of mineral rights, indicating significant exploration potential [6].

Core Insights - Aura Minerals Inc. reported a significant increase in EBITDA, reaching US$267 million in 2024, driven by high gold prices and effective cost management [2][3] - The company achieved a total production of 267,232 gold equivalent ounces (GEO) in 2024, marking an 18% increase at constant metal prices compared to the previous year [3][4] - The company maintained a strong safety record with only one non-severe lost-time incident in two years, emphasizing its commitment to safety [3][13] Financial Performance - Net revenue for Q4 2024 was US$171,517 thousand, a 38% increase compared to Q4 2023, while total revenue for 2024 reached US$594,163 thousand, up 43% from 2023 [4][5] - Adjusted EBITDA for Q4 2024 was US$79,319 thousand, more than doubling compared to Q4 2023, and for the full year, it reached US$266,768 thousand, a 99% increase from 2023 [4][5] - The average all-in sustaining cost (AISC) for 2024 was US$1,320 per GEO, a slight decrease from US$1,325 in 2023, reflecting the company's focus on cost control [4][5] Production Highlights - Total production in Q4 2024 was 66,473 GEO, slightly below Q3 2024, while the full-year production of 267,232 GEO exceeded guidance [4][5] - The Almas operation produced 54,129 GEO in 2024, exceeding its guidance range, while the Apoena operation faced challenges, producing 37,173 GEO, below its guidance [5][14] - The company invested US$159 million in growth initiatives in 2024, supporting future production increases [3][12] Strategic Initiatives - Aura completed the acquisition of Bluestone Resources, adding a high-grade gold deposit with approximately 2.4 million ounces of gold to its portfolio [11] - The Borborema Project is on track for completion in Q1 2025, with significant construction milestones achieved [10] - The company announced share buyback programs, repurchasing over 1 million shares, reflecting its commitment to returning value to shareholders [7] Guidance and Future Outlook - For 2025, the company expects production to range between 266,000 and 300,000 GEO, representing an increase from 2024 [23][21] - AISC for 2025 is projected to be between US$1,374 and US$1,492 per GEO, with cash costs expected to rise due to lower ore grades and mine sequencing [27][28] - The company anticipates commercial production at Borborema in the second half of 2025, contributing to overall production growth [25][28]