secwatch.observer — SEC 8-K summary
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Issuer:     ORMAT TECHNOLOGIES, INC. (ORA)
CIK:        0001296445
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001437749-23-013345
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1296445/000143774923013345/0001437749-23-013345-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1296445/000143774923013345/ora20230509_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-013345

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