Ormat Q2 EPS $0.23, revenue $146.9M; raises 2021 revenue guidance; acquires two Nevada geothermal plants for $171M cash

ORMAT TECHNOLOGIES, INC.

2021-Q2 EPS reported $0.50 revenue$313,253,000

Net income $13.0M ($0.23 diluted EPS) vs $23.0M ($0.45) in Q2 2020; Adjusted EBITDA $84.5M vs $97.9M.
Electricity segment revenue $133.9M (+4% YoY); Product $7.4M (-83%); Energy Storage $5.6M (+124%).
Acquired TG Geothermal Portfolio for $171M cash plus assumed debt ~$206M, adding 56MW Dixie Valley and 11.5MW Beowawe.
Raises 2021 total revenue guidance to $650-685M; Adjusted EBITDA guidance $400-410M.
Product backlog grew 59% to $59.1M; signed 15-year PPA with Clean Power Alliance.

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