Ormat Q2 revenues up 15% to $194.8M; net income jumps 115%; raised 2025 capacity target to 1.9-2.0 GW

ORMAT TECHNOLOGIES, INC.

2023-Q2 EPS reported $0.90 revenue$380,028,000

Q2 total revenues $194.8M (+15.2% YoY); net income $24.2M (+114.8%); diluted EPS $0.40 (+100%).
Electricity segment rev $155.3M (+2.7%); product rev $33.5M (+222%); storage rev $6.0M (-19.7%).
Adjusted EBITDA $100.9M (flat YoY); full-year guidance reaffirmed: rev $823M-$858M, EBITDA $480M-$510M.
New 2025 capacity target raised to 1.9-2.0 GW; construction started on 50MW NZ geothermal and 155MW/380MWh storage.
Quarterly dividend $0.12/share declared; payable Aug 30, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ORMAT TECHNOLOGIES, INC. updated its second quarter ended June 30, 2023 guidance (reaffirmed).

Period: second quarter ended June 30, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On August 2, 2023 Ormat Technologies, Inc. (the “Registrant”) reported its earnings for its second fiscal quarter ended June 30, 2023. A copy of the Registrant's press release containing this information is furnished as Exhibit 99.1 to this report on Form 8-K and is incorporated herein by reference.

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Source: SEC EDGAR

accession 0001437749-23-021696

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