Revenue Sources - In the three months ended September 30, 2024, the Electricity segment generated 71.0% of its revenues from the United States and 29.0% from international operations[116] - The Product segment derived 8.6% of its revenues from the United States and 91.4% from international markets during the same period[116] - The Energy Storage segment's revenues were entirely from operations in the United States for the three months ended September 30, 2024[116] - Domestic revenues in the Electricity segment accounted for approximately 73% of total revenues for the nine months ended September 30, 2024, compared to 70% in 2023[127] - Foreign revenues in the Electricity segment were approximately 27% of total revenues for the nine months ended September 30, 2024, down from 30% in 2023[127] - For the nine months ended September 30, 2024, 36% of total revenues were derived from foreign locations, down from 38% in 2023[125] Financial Performance - For the nine months ended September 30, 2024, total revenues increased by 10.3% to $648.9 million compared to $588.1 million in the same period of 2023[124] - Electricity segment revenues for the nine months ended September 30, 2024, were $522.1 million, up 8.1% from $482.8 million in the prior year[124] - Product segment revenues decreased by 6.2% to $100.0 million for the nine months ended September 30, 2024, compared to $83.3 million in the same period of 2023[124] - Energy storage segment revenues decreased by 11.1% to $26.8 million for the nine months ended September 30, 2024, compared to $21.9 million in the prior year[124] - Total revenues for the three months ended September 30, 2024, were $211.8 million, a 1.8% increase from $208.1 million in the same period of 2023[138] - Net income attributable to the Company's stockholders for the three months ended September 30, 2024, was $22.1 million, down from $35.5 million in the prior year[1] - Net income for the nine months ended September 30, 2024 was $88.6 million, compared to $94.3 million for the same period in 2023[213] Operating Costs and Expenses - Gross profit for the three months ended September 30, 2024, was $58.9 million, down from $60.0 million in the same quarter of 2023[1] - Operating income for the three months ended September 30, 2024, was $35.7 million, compared to $37.6 million in the same period of 2023[1] - General and administrative expenses rose significantly to $23.0 million from $14.0 million in the same quarter of 2023[1] - Total cost of revenues for the Electricity segment increased to $114.9 million for the three months ended September 30, 2024, from $107.2 million in the same period of 2023, an increase of 7.3%[145] - General and administrative expenses rose to $60.5 million for the nine months ended September 30, 2024, compared to $49.5 million in 2023, marking a $11.0 million increase[178] - Research and development expenses increased to $1.8 million for the three months ended September 30, 2024, compared to $1.4 million in the same period of 2023, a rise of 28.6%[148] Capital Expenditures and Financing - The company issued an additional $45.2 million of 2.50% Convertible Senior Notes due 2027 to refinance current debt[118] - The company expects to finance estimated capital needs of $143.0 million for new projects and $45.5 million for long-term debt repayment through various liquidity sources[191] - Capital expenditures for the nine months ended September 30, 2024 were $359.9 million, down from $448.8 million in the same period of the prior year[211] - Capital expenditures budgeted at approximately $378.0 million for new projects and enhancements, with $154.0 million invested as of September 30, 2024[220] Project Developments - The company commenced commercial operations for its largest energy storage facility, the 80MW/320MWh Bottleneck project, in October 2024[118] - A 15-year Resource Adequacy Purchase and Sale Agreement was signed with the City of Riverside for the 80MW/320MWh Shirk Battery Energy Storage System, with a guaranteed commercial operation date of March 1, 2026[118] - The company commenced operation of the 6MW Beowawe Repower geothermal power plant in the second quarter of 2024[118] - On March 4, 2024, the company signed a 30-year PPA with EDF for a new 10MW geothermal power plant in Guadeloupe, expected to be operational by the end of 2025[120] - Zunil Upgrade in Guatemala to add 5MW capacity, with commercial operation expected in 2025[217] - Beowawe Solar project in Nevada expected to generate approximately 6MW, completion anticipated by the end of 2024[217] Debt and Liquidity - As of September 30, 2024, the Company had $88.1 million in cash and cash equivalents and $440.2 million of unused corporate borrowing capacity[191] - The outstanding amount of third-party debt as of September 30, 2024, includes $135.1 million in Mammoth Senior Secured Notes and $151.7 million in OFC 2 Senior Secured Notes - Series A[199] - The company completed the issuance of commercial paper totaling $100.0 million as of September 30, 2024, with an interest rate of three months SOFR +1.1%[206] - The company has a liability of approximately $7.9 million associated with unrecognized tax benefits as of September 30, 2024[207] Risk Management - 97.8% of consolidated long-term debt at fixed interest rates, limiting exposure to interest rate volatility[221] - Exposure to foreign currency exchange risk mitigated through forward and cross-currency swap contracts[223] - Overall operating costs have increased due to higher inflation rates since early 2022, impacting profit and gross margin[227] - Interest rate increases for both short-term and long-term debt have sharply increased, potentially raising future interest expenses[227] Accounts Receivable - As of September 30, 2024, overdue amounts from Kenya Power and Lighting Co. Ltd. (KPLC) totaled $29.8 million, with $7.8 million paid in October 2024[230] - The overdue amount from Empresa Nacional de Energía Eléctrica (ENEE) in Honduras was $24.2 million as of September 30, 2024, with $1.1 million paid in October 2024[231] - The company believes it can collect all past due amounts from KPLC, supported by a government support letter covering certain non-payment cases[230] - The company has historically collected on substantially all receivable balances, indicating strong credit management[230]

分组1 - Ormat Technologies reported quarterly earnings of $0.42 per share, exceeding the Zacks Consensus Estimate of $0.30 per share, but down from $0.47 per share a year ago, representing a 40% earnings surprise [1] - The company achieved revenues of $211.78 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.03% and up from $208.06 million year-over-year [2] - Over the last four quarters, Ormat Technologies has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] 分组2 - The stock has added about 8% since the beginning of the year, while the S&P 500 has gained 21.2%, indicating underperformance relative to the broader market [3] - The current consensus EPS estimate for the coming quarter is $0.65 on revenues of $240.26 million, and for the current fiscal year, it is $1.92 on revenues of $889.16 million [7] - The Zacks Industry Rank for Alternative Energy - Other is currently in the bottom 35% of over 250 Zacks industries, suggesting potential challenges for the sector [8]

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 THIRD QUARTER 2024 FINANCIAL RESULTS REVENUE AND ADJUSTED EBITDA GROWTH HIGHLIGHT CONTINUED PROGRESS TOWARDS ACHIEVING GROWTH TARGETS HIGHLIGHTS ● ELECTRICITY SEGMENT REVENUES AND ADJUSTED EBITDA INCREASE DRIVEN BY SOLID OPERATIONAL EX ...

RENO, Nev., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Ormat Technologies Inc. (NYSE: ORA), a leading renewable energy company, today announced the release of its annual Sustainability Report, providing an overview of the Company’s environmental, social, and governance (ESG) performance in 2023. Key achievements highlighted in the 2023 report include: Avoided Emissions: The Company’s operating portfolio avoided a net of 2,212,508 metric tons of CO2e compared to local electricity grids.ESG Board Committee: Establishe ...

Ormat Technologies (ORA) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on November 6, 2024, might help the stock move higher if these key numbers are bet ...

RENO, Nev., Oct. 28, 2024 (GLOBE NEWSWIRE) -- Ormat Technologies Inc. (NYSE: ORA), a leading renewable energy company, announces the successful commencement of commercial operations for its largest energy storage facility, the Bottleneck project. This 80MW/320MWh Battery Energy Storage System (BESS), located in the Central Valley of California, will provide energy, capacity, and ancillary services to San Diego Gas & Electric (SDG&E) under a 15-year Power Purchase Agreement (also known as a Tolling Agreement ...

RENO, Nev., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Ormat Technologies Inc. (NYSE: ORA), a leading renewable energy company, today announced it has successfully secured multiple land parcels in Nevada's Annual Bureau of Land Management (BLM) Auction. These lease acquisitions will significantly support Ormat's ongoing exploration and expansion efforts in the state, further strengthening the company's commitment to advancing renewable energy solutions and meeting Nevada's increasing demand for sustainable energy. T ...

Ormat Technologies, Inc. (ORA) recently revealed that it has signed two seven-year tolling agreements involving Texas-based energy storage facilities with Equilibrium Energy. Both the projects, Lower Rio and Bird Dog, come with a storage capacity of 60 megawatts (MW)/120 megawatt-hours (MWh) each. While it is projected that the Bird Dog facility will be operational in the fourth quarter of 2025, the Lower Rio project is slated to be online in the second quarter of next year. Benefits of the Agreement Factor ...

Ormat Technologies, Inc. (NYSE:ORA) Q2 2024 Earnings Conference Call August 7, 2024 9:00 AM ET Company Participants Josh Carroll - Alpha IR Group, IR Doron Blachar - CEO Assi Ginzburg - CFO Conference Call Participants Noah Kaye - Oppenheimer Justin Clare - Roth MKM Derek Podhaizer - Barclays Jon Windham - UBS Financial Ryan Levine - Citi Julien Dumoulin Smith - Jefferies Jeff Osborne - TD Cowen Operator Good morning and welcome to the Ormat Technologies Second Quarter 2024 Earnings Conference Call. All par ...

ORMAT TECHNOLOGIES, INC. EARNINGS CALL AUGUST 7, 2024 SAFE HARBOR STATEMENT AND NON-GAAP METRICS THIS PRESENTATION INCLUDES FORWARD-LOOKING STATEMENTS, AND THE DISCLAIMER SHOULD BE READ CAREFULLY FORWARD-LOOKING STATEMENTS This presentation, and information provided during any discussion accompanying this presentation, may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve estimates, expectations, projections, goals, obje ...