Ormat Technologies Inc. (ORA) reported second-quarter 2024 adjusted earnings per share of 40 cents, which beat the Zacks Consensus Estimate of 37 cents by 8.1%. The bottom line was on par with the year-ago quarter's reported actuals. The adjusted earnings benefited from higher revenues and improved margins, offset by higher interest expenses. The company reported GAAP earnings of 37 cents per share compared with 40 cents in the year-ago quarter. The year-over-year deterioration can be attributed to after-ta ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-32347 ORMAT TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 88-0326081 (State or other jurisdiction of i ...

Ormat Technologies (ORA) came out with quarterly earnings of $0.40 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.40 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 8.11%. A quarter ago, it was expected that this geothermal company would post earnings of $0.68 per share when it actually produced earnings of $0.65, delivering a surprise of -4.41%. Over the last four quarters ...

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 SECOND QUARTER 2024 FINANCIAL RESULTS CONSISTENT IMPROVEMENT ACROSS ALL OPERATING SEGMENTS HIGHLIGHTS COMMITTEMENT TOWARD CONTINUED PROFITABLE GROWTH HIGHLIGHTS ● TOTAL REVENUES FOR THE SECOND QUARTER INCREASED BY 9.3% YEAR-OVER-YEAR, ...

HIGHLIGHTS ____________________________________ 1 Reconciliation is set forth below in this release. 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 INCREASE IN FULL YEAR EBITDA GUIDANCE RANGE, DEMONSTRATING STRONG EXECUTION AND CONFIDENCE IN THE COMPANY'S FORWARD OUTLOOK RENO, Nev., Aug. 06, 2024 (GLOBE NEWSWI ...

The earnings report, which is expected to be released on August 6, 2024, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. This geothermal company is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of -7.5%. Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out ...

Project Overview - The Shirk project is expected to be eligible for a 40% Investment Tax Credit, highlighting Ormat's strategic growth in the Energy Storage segment in California [1] - The project represents Ormat's first storage contract with the City of Riverside and the City's first long-term Resource Adequacy (RA) Agreement [1] - The RA Agreement includes a guaranteed commercial operation date (COD) of March 1, 2026, with potential achievement by the end of 2025, showcasing Ormat's execution capabilities [1] Company Background - Ormat Technologies is a leading geothermal company with over five decades of experience, vertically integrated in geothermal and recovered energy generation (REG) [2] - The company has a total generating portfolio of 1,415MW, including 1,225MW of geothermal and solar generation globally and 190MW of energy storage in the U S [2] - Ormat leverages its core capabilities in geothermal and REG to expand into energy storage services, solar PV, and energy storage plus solar PV [2] Market and Strategic Focus - The Shirk project aligns with Ormat's strategic growth focus on key U S markets like California, transitioning its Energy Storage business to a higher-growth segment [6] - The project supports the City of Riverside's long-term Resource Adequacy needs cost-effectively while advancing battery energy storage deployment within the CAISO balancing authority [2][6] Project Details - The Shirk Battery Energy Storage System (BESS) has a capacity of 80MW/320MWh and is located in Visalia, California [5] - The 15-year Resource Adequacy Purchase and Sale Agreement (RA Agreement) with the City of Riverside underscores Ormat's commitment to renewable energy solutions [5][6]

The Shirk project, which is currently expected to be eligible for a 40% Investment Tax Credit, represents Ormat's continued commitment to strategically growing its Energy Storage segment in the key California energy market. The agreement is Ormat's first storage contract with the City of Riverside and is the City's first long-term RA Agreement. Critically, included in the RA Agreement is a guaranteed commercial operation date (COD) of March 1, 2026, that the Company currently believes can be achieved by the ...

A month has gone by since the last earnings report for Ormat Technologies (ORA) . Shares have added about 9.1% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Ormat Technologies due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Ormat Q1 Earnings Miss Estimates, Rev ...

RENO, Nev., June 04, 2024 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE:ORA), a leading renewable energy company, announced today that it will host an Investor and Analyst Day in New York City at the New York Stock Exchange (NYSE) on Thursday, June 20, 2024. The Investor and Analyst Day event will begin with a gathering and breakfast at 08:00 a.m. Eastern Time (EDT). The presentation will start at 09:00 a.m. EDT and will include presentations from multiple members of the executive leadership team. Orma ...