---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-013345"
form_type: "8-K"
ticker: "ORA"
cik: "0001296445"
company_name: "ORMAT TECHNOLOGIES, INC."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T08:26:05.437396+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Ormat Q1 net income +57.5% to $29M; Adjusted EBITDA +14.5% to $123.5M

## Summary
- Electricity segment revenue $170.3M (+4.8% YoY) driven by new assets CD4, Tungsten, Heber 2.
- Product segment revenue $10M (-31.4% YoY) on timing; backlog $147M; full-year near high end of guidance.
- Energy storage revenue $4.9M (-25.6% YoY) on lower PJM rates; new 19MW storage now operational with ITCs.
- 2023 guidance: total revenue $823-858M; Adjusted EBITDA $480-510M; quarterly dividend $0.12 payable June 6.
- Commenced commercial ops for 25MW North Valley geothermal, 6MW Brady solar, and 19MW storage since Jan 2023.

## SEC filing metadata
- accession: 0001437749-23-013345
- form_type: 8-K
- ticker: ORA
- cik: 0001296445
- company_name: ORMAT TECHNOLOGIES, INC.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1296445/000143774923013345/0001437749-23-013345-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1296445/000143774923013345/ora20230509_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-013345
- JSON: https://secwatch.observer/filing/0001437749-23-013345.json
- Plain text: https://secwatch.observer/filing/0001437749-23-013345.txt

## Key facts
- Earnings Releases
  ORMAT TECHNOLOGIES, INC. reported first quarter ended March 31, 2023 results: revenue 185.2, net income 29.0, EPS 0.51. Guidance initiated.
  - Period: first quarter ended March 31, 2023
  - Revenue: 185.2
  - Net income: 29.0
  - EPS: 0.51
  - Guidance: initiated
  - Result: reported results
  source text: Total Revenues 185.2 183.7 0.8 % Gross margin (%) Electricity 44.4 % 41.8 % Product 6.9 % 6.9 % Energy Storage & Management Services (3.6 ) % 13.5 % Gross margin (%) 41.1 % 38.1 % Operating income 53.2 45.1 17.9 % Net income attributable to the Company’s stockholders 29.0 18.4 57.5 % Diluted EPS ($) 0.51 0.33 54.5 %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1296445/000143774923013345/0001437749-23-013345-index.htm

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