Ormat Q1 revenue up 10.4% to $183.7M; net income up 20.8%; adjusted EBITDA $107.9M

ORMAT TECHNOLOGIES, INC.

2022-Q1 EPS reported $0.33 revenue$183,710,000

Revenue $183.7M (+10.4% YoY); Electricity segment $162.5M (+12.1%); Product $14.6M (+69.2%); Energy Storage $6.6M (-48.5%).
Net income attributable to stockholders $18.4M (+20.8%); diluted EPS $0.33 vs $0.27; adjusted EBITDA $107.9M (+8.7%).
2022 guidance: total revenue $710-735M; adjusted EBITDA $430-450M; Heber 1 fire reduces electricity guidance by $15M.
Tungsten Mountain 2 began commercial operation (13MW); signed 15-year PPA with Peninsula Clean Energy for 26MW from Heber 2.
Quarterly dividend of $0.12/share declared, payable May 31, 2022.

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