Ormat Q3 revenue $208M (+18.3%), net income $35.5M (+95.8%); narrows FY guidance

ORMAT TECHNOLOGIES, INC.

2023-Q3 EPS reported $1.49 revenue$588,084,000

Net income $35.5M ($0.59 diluted EPS) vs $18.1M ($0.32) YoY; adjusted EBITDA $118.3M (+15.8%).
Electricity segment revenue $157.2M (+2.9%); Product $39.8M (+180.2%); Energy Storage $11.0M (+24.5%).
Acquiring Enel Green Power North America assets for $271M, expected close Q1 2024, adding ~43 MW geothermal and 40 MW solar.
Quarterly dividend declared $0.12/share, payable Dec 6, 2023, record Nov 22, 2023.
Full-year revenue guidance narrowed to $825-838M; adjusted EBITDA $480-495M.

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