Ormat Q2 revenue up 15% to $169M, adj. EBITDA up 19% to $101M; net income down 14%

ORMAT TECHNOLOGIES, INC.

2022-Q2 EPS reported $0.53 revenue$352,788,000

Electricity segment revenue $151.2M (+12.9% YoY); product revenue $10.4M (+40.2%); energy storage $7.5M (+33.1%).
Operating income $38.6M (+34.9%); diluted EPS $0.20 (down 13% vs $0.23); adjusted EPS $0.22 (down 6.4%).
Net income attributable to stockholders $11.3M, down 13.6% YoY, hurt by $2.9M after-tax FX loss and $0.8M debt extinguishment costs.
Reaffirms 2022 guidance: total rev $710-735M, adj. EBITDA $430-450M; quarterly dividend $0.12/sh payable Aug 31.
Signed PPAs for up to 285 MW geothermal (NV Energy 160 MW, CC Power 125 MW); added 73 MW of new projects since Q1.

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