---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-004344"
form_type: "8-K"
ticker: "ORA"
cik: "0001296445"
company_name: "ORMAT TECHNOLOGIES, INC."
filed_at: "2023-02-23T23:59:59+00:00"
generated_at: "2026-06-19T01:58:54.547160+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Ormat reports FY2022 revenue up 10.7% to $734.1M; guides 2023 adjusted EBITDA up to 17%

## Summary
- FY2022 total revenue $734.1M (+10.7% YoY); GAAP diluted EPS $1.17 (+6.4%); adjusted diluted EPS $1.63 (+17.1%).
- Q4 adjusted EBITDA $124.7M (+7.5% YoY); full-year adjusted EBITDA $435.5M (+8.5%).
- 2023 guidance: revenue $823M-$858M; adjusted EBITDA $480M-$510M (up to 17% YoY).
- Expects ~$150M cash benefit from Inflation Reduction Act in 2023; quarterly dividend $0.12/share maintained.
- Recorded $30.5M non-cash impairment on Brawley plant; Heber 1 fire settled, repowering expected Q2 2023.

## SEC filing metadata
- accession: 0001437749-23-004344
- form_type: 8-K
- ticker: ORA
- cik: 0001296445
- company_name: ORMAT TECHNOLOGIES, INC.
- filed_at: 2023-02-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1296445/000143774923004344/0001437749-23-004344-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1296445/000143774923004344/ora20230223_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-004344
- JSON: https://secwatch.observer/filing/0001437749-23-004344.json
- Plain text: https://secwatch.observer/filing/0001437749-23-004344.txt

## Key facts
- Earnings Releases
  ORMAT TECHNOLOGIES, INC. reported the fourth fiscal quarter ended December 31, 2022 results: revenue 205.5, net income $18.0 million, EPS $0.32. Guidance initiated.
  - Period: the fourth fiscal quarter ended December 31, 2022
  - Revenue: 205.5
  - Net income: $18.0 million
  - EPS: $0.32
  - Guidance: initiated
  - Result: reported results
  source text: Electricity 165.2 164.3 0.6 % 631.7 585.8 7.8 % Product 32.2 20.3 58.2 % 71.4 46.9 52.2 % Energy Storage & Management Services 8.1 6.4 27.3 % 31.0 30.4 2.1 % Total Revenues 205.5 191.0 7.6 % 734.1 663.1 10.7 % Gross margin (%) Electricity 43.5 % 44.1 % 39.8 % 42.5 % Product 22.8 % 10.6 % 15.3 % 11.8 % Energy Storage & Management Services 11.7 % 16.4 % 21.0
  evidence_url: https://www.sec.gov/Archives/edgar/data/1296445/000143774923004344/0001437749-23-004344-index.htm
- Earnings Releases
  ORMAT TECHNOLOGIES, INC. updated its full year 2023 guidance (initiated).
  - Period: full year 2023
  - Guidance: initiated
  - Result: guidance update
  source text: Ormat announces full year 2023 Adjusted EBITDA outlook of $480 to $510 million, an increase of up to 17% over 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1296445/000143774923004344/0001437749-23-004344-index.htm
- Earnings Releases
  ORMAT TECHNOLOGIES, INC. reported the fiscal year ended December 31, 2022 results: revenue $734.1 MILLION, net income $65.8 million, EPS $1.17. Guidance initiated.
  - Period: the fiscal year ended December 31, 2022
  - Revenue: $734.1 MILLION
  - Net income: $65.8 million
  - EPS: $1.17
  - Guidance: initiated
  - Result: reported results
  source text: REPORTS FOURTH QUARTER AND YEAR-END 2022 FINANCIAL RESULTS 2023 OUTLOOK REFLECTS HIGHEST TOTAL REVENUE EVER AND RECORD ADJUSTED EBITDA GROWTH HIGHLIGHTS ● TOTAL REVENUES OF $734.1 MILLION FOR FULL YEAR 2022 INCREASED BY 10.7% YEAR-OVER-YEAR, DRIVEN BY GROWTH IN ALL THREE OPERATING SEGMENTS ● OPERATING INCOME INCREASED BY 10.7% FOR THE FOURTH QUARTER AND 8.3% FOR
  evidence_url: https://www.sec.gov/Archives/edgar/data/1296445/000143774923004344/0001437749-23-004344-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.