Ormat Q1 revenue +2.5%, record EBITDA $150.3M; acquires Blue Mountain geothermal for $88M

ORMAT TECHNOLOGIES, INC.

2025-Q1 EPS reported $0.66 revenue$229,762,000

Q1 2025 total revenue $229.8M (+2.5% YoY); net income $40.4M (+4.6%); record adjusted EBITDA $150.3M (+6.4%).
Energy storage revenue surged 119.7% to $17.8M driven by PJM merchant market and new capacity.
Electricity segment revenue fell 5.8% to $180.2M due to curtailments in CA/NV and transmission line maintenance.
Signed agreement to acquire 20MW Blue Mountain geothermal plant from Cyrq Energy for $88M; close expected Q2 2025.
Reiterated FY2025 guidance: revenue $935-975M, adjusted EBITDA $563-593M; quarterly dividend $0.12/share.

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