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Ormat Technologies (ORA) Tops Q4 Earnings Estimates
ZACKS· 2025-02-27 00:30
Group 1 - Ormat Technologies reported quarterly earnings of $0.72 per share, exceeding the Zacks Consensus Estimate of $0.47 per share, and showing an increase from $0.67 per share a year ago, resulting in an earnings surprise of 53.19% [1] - The company posted revenues of $230.74 million for the quarter ended December 2024, which was 1.27% below the Zacks Consensus Estimate and a decrease from $241.34 million in the previous year [2] - Over the last four quarters, Ormat Technologies has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Group 2 - The stock's immediate price movement will depend on management's commentary during the earnings call and the sustainability of earnings expectations [3][4] - Ormat Technologies shares have gained approximately 1.2% since the beginning of the year, compared to a 1.3% gain in the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $0.67 on revenues of $234.83 million, and for the current fiscal year, it is $2.18 on revenues of $953.23 million [7] Group 3 - The Zacks Industry Rank indicates that the Alternative Energy - Other sector is in the top 32% of over 250 Zacks industries, suggesting a favorable outlook for stocks in this category [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - The estimate revisions trend for Ormat Technologies is currently mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6]
Ormat Technologies(ORA) - 2024 Q4 - Annual Results
2025-02-27 00:04
Exhibit 99.1 Ormat Technologies Contact: Smadar Lavi VP Head of IR and ESG Planning & Reporting 775-356-9029 (ext. 65726) slavi@ormat.com Investor Relations Agency Contact: Joseph Caminiti or Josh Carroll Alpha IR Group 312-445-2870 ORA@alpha-ir.com ORMAT TECHNOLOGIES REPORTS FOURTH QUARTER AND YEAR-END 2024 FINANCIAL RESULTS STRATEGIC PORTFOLIO EXPANSION SUPPORTS CONTINUED REVENUE AND ADJUSTED EBITDA GROWTH RENO, Nev. February 26, 2025, Ormat Technologies, Inc. (NYSE: ORA) (the "Company" or "Ormat"), a lea ...
Ormat Technologies Reports Fourth Quarter and Year-End 2024 Financial Results
GlobeNewswire· 2025-02-26 21:15
Core Insights - Ormat Technologies, Inc. reported strong financial results for the fourth quarter and full year ended December 31, 2024, with total revenues increasing by 6.1% year-over-year, driven by growth across all business segments [5][6] - The company achieved a 14.3% increase in adjusted EBITDA for the full year, reflecting solid performance in its Electricity, Product, and Energy Storage segments [5][6] - Ormat is on track to meet its generating capacity goals of 2.6 to 2.8 GW by 2028, supported by strategic portfolio expansion and ongoing demand for renewable energy [5][6] Financial Performance - Total revenues for Q4 2024 were $230.7 million, a decrease of 4.4% from Q4 2023, while full-year revenues reached $879.7 million, up 6.1% from 2023 [3][7] - The Electricity segment reported revenues of $180.1 million for Q4 2024, down 2.1% year-over-year, but increased by 5.3% for the full year [3][7] - The Energy Storage segment saw significant growth, with revenues increasing by 56.7% in Q4 and 30.6% for the full year [3][7] Profitability Metrics - Gross profit for Q4 2024 was $73.6 million, with a gross margin of 31.9%, compared to 32.5% in Q4 2023 [3][7] - Operating income for the full year improved by 3.5% to $172.5 million, while net income attributable to stockholders was $123.7 million, a slight decrease of 0.5% year-over-year [3][7] - Adjusted net income attributable to stockholders for Q4 increased by 7.7% to $43.6 million, with adjusted diluted EPS rising by 7.5% to $0.72 [3][7] Strategic Initiatives - In 2024, Ormat added 253 MW of new capacity, with 133 MW in the Electricity segment and 120 MW in Energy Storage, contributing to overall growth [6][7] - The company is negotiating for approximately 250 MW with hyper-scalers, indicating strong demand for renewable power [6][7] - Ormat has taken strategic actions to ensure eligibility for tax credits under the Inflation Reduction Act, enhancing its growth prospects [6][7] Future Outlook - For 2025, Ormat expects total revenues between $935 million and $975 million, with adjusted EBITDA projected between $563 million and $593 million [10][11] - The company anticipates continued growth in its Energy Storage segment, supported by new projects coming online [6][10] - Ormat's strategic focus on renewable energy positions it well to capitalize on the increasing global demand for cleaner energy solutions [6][10]
Orange: Reduction of the Orange liquidity contract with Rothschild Martin Maurel
GlobeNewswire· 2025-02-24 17:21
Company Overview - Orange is one of the world's leading telecommunications operators with revenues of 40.3 billion euros in 2024 and a workforce of 127,000 employees globally as of December 31, 2024 [2] - The company serves a total customer base of 291 million, including 253 million mobile customers and 22 million fixed broadband customers, accounting for the deconsolidation of certain activities in Spain [2] - Orange operates in 26 countries, including non-consolidated countries, and is a prominent provider of global IT and telecommunication services to multinational companies under the brand Orange Business [3] Strategic Initiatives - In February 2023, Orange introduced its strategic plan "Lead the Future," which focuses on a new business model emphasizing responsibility and efficiency, leveraging network excellence to enhance service quality [3] Financial Operations - On February 21, 2025, Orange reduced the cash amount allocated to its liquidity contract with Rothschild Martin Maurel by 5 million euros, bringing the total amount below the 50 million euros threshold set for "very liquid shares" [1]
Orange: Transactions carried out as part of a share buyback program and outside of a liquidity contract
GlobeNewswire· 2025-02-20 21:36
Group 1 - Orange has initiated a share buyback program as part of its 2024 strategy, purchasing a total of 183,955 shares on 20 February 2025 at an average price of €10.91, amounting to €2,006,949.05 [1][2] - The shares acquired are intended to fulfill obligations related to long-term incentive plans for corporate officers and senior employees, aimed at aligning key managers with the success of the company's strategic plan [2] - The share buyback program was authorized by the Shareholders' General Meeting on 22 May 2024, and the program's details can be found in Orange's 2023 universal registration document [2] Group 2 - Orange reported revenues of €40.3 billion in 2024 and employed 127,000 people globally as of 31 December 2024, with 71,000 employees based in France [3] - The company serves a customer base of 291 million worldwide, including 253 million mobile customers and 22 million fixed broadband customers, reflecting the deconsolidation of certain activities in Spain [3] - Orange is recognized as a leading provider of global IT and telecommunications services to multinational companies under the brand Orange Business, and it presented its strategic plan "Lead the Future" in February 2023 [4]
Ormat Technologies Awarded Tolling Agreements for Two Energy Storage Facilities in Israel
GlobeNewswire· 2025-02-13 11:00
Core Insights - Ormat Technologies has secured two 15-year tolling agreements for energy storage facilities in Israel, marking a significant step in its strategic transition towards a more stable and profitable portfolio [1][4] - The combined capacity of the awarded facilities is approximately 300MW/1200MWh, developed in partnership with Allied Infrastructure LTD [1][2] - The projects are in advanced stages of obtaining necessary permits and are expected to commence commercial operations by 2028 [3] Company Overview - Ormat Technologies is a leading geothermal and renewable energy technology company with over five decades of experience [5] - The company operates a total generating portfolio of 1.5GW, including a 1.2GW geothermal and solar generation portfolio globally [5] - Ormat is focused on expanding its energy storage services and aims to establish a leading position in the U.S. energy storage market [5] Partnership Details - The ownership of the energy storage projects will be shared equally (50/50) between Ormat and Allied Infrastructure LTD [2] - This partnership represents Ormat's first major entry into the Israeli utility-scale energy storage market [2][4] - The collaboration aims to further develop energy storage facilities in Israel [2]
Orange: Strong 2024 results, 2025 Organic Cash Flow target raised
GlobeNewswire· 2025-02-13 06:33
Core Insights - The company reported strong financial results for 2024, achieving revenue of €40,260 million, up 1.2% year-on-year, and EBITDAaL of €12,109 million, an increase of 2.7% year-on-year [1][19] - The organic cash flow target for 2025 has been raised to at least €3.6 billion, reflecting confidence in continued operational performance [2][19] - The successful execution of the "Lead the Future" strategic plan is highlighted as a key driver of growth, with significant operational achievements across various regions [1][2] Financial Performance - Revenues for Q4 2024 were €10,426 million, a slight increase of 0.5% compared to Q4 2023 [1][59] - EBITDAaL for Q4 2024 reached €3,252 million, representing a growth of 3.2% year-on-year [1][59] - Operating income rose by 14.8% to €5,116 million, driven by increased EBITDAaL and reduced expenses [1][13] Regional Performance - France saw a revenue increase of 0.4% to €17,798 million, with retail services growing by 1.4% [24][25] - The Africa & Middle East region delivered robust performance with annual revenues up 11.1% to €7,683 million, driven by mobile data and Orange Money [34][35] - Europe experienced a revenue decline of 2.1% to €7,101 million, primarily due to a decrease in wholesale services [28][29] Operational Highlights - The company achieved a significant increase in mobile and fixed broadband customer bases, with mobile accesses reaching 253 million globally [10][30] - The implementation of digital technologies, including AI, is being accelerated to enhance service offerings and operational efficiency [5][10] - The company maintained its leadership position in convergence services in Europe, with a total of 9.1 million convergent customers [10][25] Strategic Initiatives - The creation of the MASORANGE joint venture in Spain is noted as a strategic move, contributing to revenue growth and operational synergies [1][56] - The company is focusing on operational efficiency, achieving two-thirds of its efficiency program target for 2025 [10][19] - A new employment and professional development agreement was signed in France to support workforce adaptation to technological changes [6][10] Sustainability and ESG - The company has exceeded its target of reducing GHG emissions by 30% by 2025, achieving a 37.4% reduction in 2023 [21][22] - Strong ESG ratings were reported, with MSCI rating the company as A and EcoVadis awarding a Platinum score [21][22]
Orange: Orange unanimously signs an agreement on Employment and Career Path Planning
GlobeNewswire· 2025-02-10 16:09
Core Points - The Orange Group has signed an agreement on Employment and Career Path Planning (GEPP) for the period 2025-2027, aimed at supporting the evolution of professions and skills within the company in France [1][5] - The agreement emphasizes the importance of employee employability as a key asset for the company's transformation and allows employees to make informed career choices [2][4] Employment and Recruitment - Orange plans to recruit 6,000 permanent positions by 2027 and aims to welcome a minimum of 2,600 apprentices annually during this period [5][8] - The company is committed to providing over 1 million hours of training annually to its employees in France [5][6] Skill Development and Internal Mobility - The agreement includes initiatives for continuous skill development and internal retraining pathways, with new programs like "Orange Perspectives" to facilitate transitions to balanced or emerging professions [6][13] - Financial incentives will be offered for employees who initiate mobility between different divisions within the Group [13] Support for Employees - Specific provisions are planned for mid-career employees aged 45 and over, focusing on skill development, career guidance, and healthcare [13] - The agreement renews the "assisted part-time" plan and the Part-Time for Seniors voluntary plan, aimed at supporting employees in later stages of their careers [13] Social Dialogue and Company Strategy - The agreement reflects Orange's commitment to high-quality social dialogue and positions the company as a responsible and innovative player in the telecommunications sector [2][9] - The strategic plan "Lead the Future" aims to reinforce Orange's leadership in service quality while adapting to new challenges in the telecom sector [11]
Ormat Commences Commercial Operation of 35 MW Ijen Geothermal Facility in Indonesia, Delivering Low Carbon Geothermal Power
GlobeNewswire· 2025-02-10 14:00
Core Points - Ormat Technologies Inc. has successfully commenced commercial operations for the 35MW Ijen geothermal power plant in East Java, Indonesia, marking a significant milestone in the company's expansion strategy in the region [1][3] - The Ijen facility is a joint venture with PT Medco Power Indonesia, where Ormat holds a 49% equity share, and it is the first geothermal power plant in East Java, contributing to Indonesia's goal of adding 7.2 GW of geothermal capacity by 2035 [1][2] - The Ijen geothermal power plant is equipped with Ormat Energy Converter and has a total planned capacity of 110 MW under a 30-year power purchase agreement [2] Company Overview - Ormat Technologies is a leading geothermal and renewable energy company with over five decades of experience, focusing on geothermal and recovered energy generation [4] - The company operates a total generating portfolio of 1,537 MW, which includes 1,247 MW from geothermal and solar generation across various countries, and a 290 MW energy storage portfolio located in the U.S. [4] - Ormat aims to accelerate long-term growth in the energy storage market and establish a leading position in the U.S. energy storage market [4]
Total number of shares and voting rights at January 31, 2025
GlobeNewswire· 2025-02-06 17:00
6 February 2025 Orange: information on the total number of shares and voting rights referred to in Article L.233-8 II of the French Commercial Code and Article 223-16 of the General Regulations of the Autorité des Marchés Financiers. In application of Article L. 22-10-46 of the French Commercial Code (Code de commerce), as from 3 April 2016, a double voting right is automatically granted to fully paid-up shares that have been held in registered form and under a single shareholder name for at least two year ...