Ormat Technologies, Inc. (NYSE: ORA) today announced financial
results for the second quarter ended June 30, 2021.
KEY FINANCIAL RESULTS
|
Q2 2021 |
Q2 2020 |
Change (%) |
H1 2021 |
H1 2020 |
Change (%) |
|
GAAP Measures |
|
|
|
|
|
|
|
|
|
Revenues ($ millions) |
|
|
|
|
|
|
|
Electricity |
133.9 |
|
128.7 |
|
|
4.0 |
|
% |
278.9 |
|
271.5 |
|
|
2.7 |
|
% |
|
Product |
7.4 |
|
43.7 |
|
|
(83.0 |
) |
% |
16.1 |
|
91.1 |
|
|
(82.4 |
) |
% |
|
Energy Storage |
5.6 |
|
2.5 |
|
|
123.8 |
|
% |
18.3 |
|
4.4 |
|
|
320.8 |
|
% |
|
Total Revenues |
146.9 |
|
174.9 |
|
|
(16.0 |
) |
% |
313.3 |
|
367.0 |
|
|
(14.6 |
) |
% |
|
|
|
|
|
|
|
|
|
Gross margin (%) |
|
|
|
|
|
|
|
Electricity |
37.4 |
% |
44.1 |
|
% |
|
41.3 |
% |
47.2 |
|
% |
|
|
Product |
20.1 |
% |
20.6 |
|
% |
|
12.8 |
% |
21.3 |
|
% |
|
|
Energy Storage |
6.4 |
% |
(13.6 |
) |
% |
|
45.2 |
% |
(10.2 |
) |
% |
|
|
Gross margin (%) |
35.4 |
% |
37.4 |
|
% |
|
40.1 |
% |
40.1 |
|
% |
|
|
|
|
|
|
|
|
|
|
Operating income ($
millions) |
28.6 |
|
48.1 |
|
|
(40.5 |
) |
% |
78.5 |
|
109.1 |
|
|
(28.1 |
) |
% |
|
Net income attributable to the
Company’sstockholders ($ millions) |
13.0 |
23.0 |
(43.5 |
) |
% |
28.3 |
49.1 |
(42.4 |
) |
% |
|
Diluted EPS ($) |
0.23 |
0.45 |
(48.9 |
) |
% |
0.50 |
0.95 |
(47.4) % |
|
|
|
|
|
|
|
|
|
Non-GAAP Measures 1 |
|
|
|
|
|
|
|
Adjusted Net income
attributable to theCompany’s stockholders ($ millions) |
13.0 |
23.0 |
(43.5 |
)% |
37.1 |
49.1 |
(24.4 |
)% |
|
Adjusted Diluted EPS ($) |
0.23 |
0.45 |
(48.9 |
) |
% |
0.66 |
0.95 |
(30.5 |
)% |
|
Adjusted EBITDA1 ($
millions) |
84.5 |
|
97.9 |
|
|
(13.6 |
) |
% |
183.8 |
203.9 |
|
|
(9.9 |
) |
% |
|
“We continue to deliver growth in our Energy
Storage and Electricity segments, while simultaneously signing new
contracts in our Product segment, which increased our backlog by
59%,” commented Doron Blachar, Chief Executive Officer. “In our
Energy Storage segment, we again delivered triple-digit
year-over-year revenue growth supported by the Pomona asset. Our
Electricity segment, with the combination of a successful expansion
of our McGinness Hills Phase 3 geothermal power plant and the
return of Puna to electricity generation, positively impacted the
quarter. The McGinness Hills expansion increased the complex’s
total capacity to approximately 160MW, which is higher than
originally expected. Furthermore, with the addition of the recently
acquired Dixie Valley and Beowawe assets, combined with our
internal growth, we are on track to achieve our long-term goal of
increasing Ormat’s combined geothermal, energy storage and solar
generating portfolio to more than 1.5 GW by 2023.”
“In the second quarter, Electricity segment
results were impacted by mostly temporary issues related to the
Olkaria, Steamboat and Brawley complexes, which reduced our
Electricity gross profit by approximately $8.0 million, and,
coupled with lower Product sales, negatively impacted the quarter
and our annual guidance,” continued Mr. Blachar. “However, the
Covid-related impact on our Products segment has begun to
dissipate, as evidenced by the large increase in our Product
segment backlog and the steady and accelerating strengthening of
our sales pipeline. We believe the recovery of our Product segment
along with the significant portfolio growth coming from our
Electricity and Energy Storage segments supports our target of an
annual run-rate of more than $500 million in Adjusted EBITDA
towards the end of 2022.”
FINANCIAL AND BUSINESS HIGHLIGHTS
- Net income
attributable to the Company's stockholders was $13.0 million, or
$0.23 per diluted share, compared to $23.0 million, or $0.45 per
diluted share in the second quarter of last year, representing a
decrease of 43.5% and 48.9%, respectively, mainly as a result of
the lower revenue in the Product segment and lower gross profit at
the Electricity segment;
- Adjusted EBITDA
decreased 13.6% to $84.5 million, from $97.9 million in the second
quarter of last year, mainly due to a $7.5 million reduction in
Product segment gross profit this quarter, the low performance in
some of the power plants in the Electricity segment and an increase
in SG&A expenses. (a reconciliation of GAAP net income to
EBITDA and Adjusted EBITDA is set forth below in this
release);
- Electricity
segment revenues increased by 4.0% to $133.9 million compared to
the second quarter of last year, supported by a contribution from
the newly added McGinness Hills Complex expansion and from Puna’s
resumed operations, partially offset by under performance in the
Olkaria complex in Kenya due a combination of curtailments and
lower resource performance. Management expects to restore the
Olkaria complex’s generating capacity towards the end of 2021 and
expects the Puna complex to generate approximately 30 MW by the end
of the year;
- Product segment
revenues decreased 83.0% to $7.4 million, down from $43.7 million
in the same quarter last year, impacted primarily by COVID-19;
- Energy Storage
segment revenues were $5.6 million compared to $2.5 million in the
same quarter last year. The increase was mainly related to revenues
from our Pomona asset, which was acquired in July 2020, and the
commencement of Vallecito, both located in California;
- Product segment
backlog grew by 59% to $59.1 million as of August 4, 2021; Ormat
secured new agreements including a contract with Star Energy
Geothermal to supply products to support the 14 MW Salak geothermal
project in Indonesia;
- Ormat completed
the acquisition of TG Geothermal Portfolio, LLC (a subsidiary of
Terra-Gen, LLC). Ormat paid $171 million in cash for 100% of the
equity interests in a portfolio of entities and assumed debt and
associated lease obligations of approximately $206 million book
value as of June 30, 2021. The acquired entities own, among other
things, two operating geothermal power plants in Nevada comprising
the 56 MW (net) Dixie Valley geothermal power plant, one of the
largest geothermal power plants in Nevada, and the 11.5 MW Beowawe
geothermal power plant, as well as the rights to Coyote Canyon, a
greenfield development asset adjacent to Dixie Valley with high
resource potential, and an underutilized transmission line, capable
of handling between 300MW and 400MW of 230KV electricity,
connecting Dixie Valley to California;
- The Puna power
plant generated approximately 25 MW during the second quarter of
2021, and we recently reached 28 MW following the repair of one of
the turbines. We expect the Puna complex to generate approximately
30 MW by the end of the year. While management believes the PUC
information requests regarding the new PPA signed with HELCO will
ultimately be resolved, Ormat will continue selling electricity
under its existing long-term PPA until the new PPA takes
effect;
- The expansion of
Ormat’s McGinness Hills Phase 3 geothermal power plant in Eastern
Nevada was completed, increasing the net capacity by approximately
15 MW and bringing the entire McGinness Hills complex capacity to a
total of approximately 160 MW, which is higher than initially
expected; and
- Ormat signed a
15-year PPA with the Clean Power Alliance (CPA), the fifth largest
electricity provider in California and the single largest provider
of 100% renewable energy to customers in the nation.
1 Reconciliation is set forth below in this release
2021 GUIDANCE
- Total revenues of between $650 million and $685 million;
- Electricity segment revenues between $585 million and $595
million;
- Product segment revenues of between $40 million and $60
million;
- Energy Storage revenues of between $25 million and $30
million;
- Adjusted EBITDA to be between $400 million and $410 million;
- Adjusted EBITDA
attributable to minority interest of approximately $31
million.
As we noted in previous quarters, Adjusted
EBITDA assumed insurance proceeds related to the 2018 insurance
Puna claim of $10 million.
The Company provides a reconciliation of
Adjusted EBITDA, a Non-GAAP financial measure for the three and six
months ended June 30, 2021. However, the Company is unable to
provide a reconciliation for its Adjusted EBITDA guidance range due
to high variability and complexity with respect to estimating
forward looking amounts for impairments and disposition and
acquisition of business interests, income tax expense, and other
non-cash expenses and adjusting items that are excluded from the
calculation of Adjusted EBITDA.
DIVIDEND
On August 4th, 2021, the Company’s Board of
Directors declared, approved, and authorized payment of a quarterly
dividend of $0.12 per share pursuant to the Company’s dividend
policy. The dividend will be paid on September 1st, 2021, to
stockholders of record as of the close of business on August 18,
2021. In addition, the Company expects to pay a quarterly dividend
of $0.12 per share in the next quarter.
CONFERENCE CALL DETAILS
Ormat will host a conference call to discuss its
financial results and other matters discussed in this press release
on Thursday, August 5th, at 10 a.m. ET. The call will be available
as a live, listen-only webcast at investor.ormat.com. During the
webcast, management will refer to slides that will be posted on the
website. The slides and accompanying webcast can be accessed
through the News & Events in the Investor Relations section of
Ormat’s website.
An archive of the webcast will be available
approximately 60 minutes after the conclusion of the live call.
Investors may access the call by dialing:
Participant dial in (toll free): |
1-877-511-6790 |
Participant international dial-in: |
1-412-902-4141 |
|
|
Conference replay |
|
US Toll Free: |
1-877-344-7529 |
International Toll: |
1-412-317-0088 |
Replay Access Code: |
10158320 |
ABOUT ORMAT TECHNOLOGIES
With over five decades of experience, Ormat
Technologies, Inc. is a leading geothermal company and the only
vertically integrated company engaged in geothermal and recovered
energy generation (“REG”), with robust plans to accelerate
long-term growth in the energy storage market and to establish a
leading position in the U.S. energy storage market. The Company
owns, operates, designs, manufactures and sells geothermal and REG
power plants primarily based on the Ormat Energy Converter – a
power generation unit that converts low-, medium- and
high-temperature heat into electricity. The Company has engineered,
manufactured and constructed power plants, which it currently owns
or has installed for utilities and developers worldwide, totaling
approximately 3,200 MW of gross capacity. Ormat leveraged its core
capabilities in the geothermal and REG industries and its global
presence to expand the Company’s activity into energy storage
services, solar Photovoltaic (PV) and energy storage plus Solar PV.
Ormat’s current total generating portfolio is 1.1 GW that comprises
a 1,015 MW of geothermal and Solar portfolio that is spread
globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and
Guadeloupe and an 83 MW energy storage portfolio that is located in
the U.S.
ORMAT’S SAFE HARBOR STATEMENT
Information provided in this press release may
contain statements relating to current expectations, estimates,
forecasts and projections about future events that are
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
generally relate to Ormat's plans, objectives and expectations for
future operations and are based upon its management's current
estimates and projections of future results or trends. Actual
future results may differ materially from those projected as a
result of certain risks and uncertainties.
For a discussion of such risks and
uncertainties, see "Risk Factors" as described in Ormat’s Form 10-K
filed with the Securities and Exchange Commission (“SEC”) on
February 26, 2021 and from time to time, in Ormat’s quarterly
reports on Form 10-Q that are filed with the SEC.
These forward-looking statements are made only
as of the date hereof, and we undertake no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise.
ORMAT TECHNOLOGIES, INC AND SUBSIDIARIESCondensed Consolidated
Statement of OperationsFor the Three and Six-Month periods Ended
June 30, 2021 and 2020
|
Three Months Ended June 30, |
Six Months Ended June 30, |
|
2021 |
2020 |
2021 |
2020 |
|
(Dollars in thousands, except per share data) |
Revenues: |
|
|
|
|
Electricity |
133,864 |
|
128,685 |
|
278,852 |
|
271,541 |
|
Product |
7,410 |
|
43,701 |
|
16,053 |
|
91,112 |
|
Energy storage |
5,627 |
|
2,514 |
|
18,348 |
|
4,360 |
|
Total revenues |
146,901 |
|
174,900 |
|
313,253 |
|
367,013 |
|
Cost of revenues: |
|
|
|
|
Electricity |
83,736 |
|
71,950 |
|
163,587 |
|
143,318 |
|
Product |
5,924 |
|
34,709 |
|
13,998 |
|
71,687 |
|
Energy storage |
5,266 |
|
2,855 |
|
10,046 |
|
4,804 |
|
Total cost of revenues |
94,926 |
|
109,514 |
|
187,631 |
|
219,809 |
|
Gross profit |
51,975 |
|
65,386 |
|
125,622 |
|
147,204 |
|
Operating expenses: |
|
|
|
|
Research and development expenses |
1,128 |
|
1,172 |
|
2,004 |
|
2,791 |
|
Selling and marketing expenses |
3,988 |
|
4,854 |
|
8,264 |
|
9,648 |
|
General and administrative expenses |
18,240 |
|
11,870 |
|
36,846 |
|
28,615 |
|
Business interruption insurance income |
— |
|
(585 |
) |
— |
|
(2,982 |
) |
Operating income |
28,619 |
|
48,075 |
|
78,508 |
|
109,132 |
|
Other income (expense): |
|
|
|
|
Interest income |
808 |
|
441 |
|
1,071 |
|
843 |
|
Interest expense, net |
(18,626 |
) |
(19,785 |
) |
(37,642 |
) |
(37,058 |
) |
Derivatives and foreign currency transaction gains (losses) |
658 |
|
671 |
|
(16,208 |
) |
1,064 |
|
Income attributable to sale of tax benefits |
7,420 |
|
5,672 |
|
13,775 |
|
9,804 |
|
Other non-operating income (expense), net |
(21 |
) |
304 |
|
(352 |
) |
382 |
|
Income from operations before income tax and equity inearnings
(losses) of investees |
18,858 |
|
35,378 |
|
39,152 |
|
84,167 |
|
Income tax (provision)
benefit |
(4,268 |
) |
(11,766 |
) |
(7,275 |
) |
(29,914 |
) |
Equity in earnings (losses) of
investees, net |
605 |
|
1,658 |
|
1,147 |
|
923 |
|
Net income |
15,195 |
|
25,270 |
|
33,024 |
|
55,176 |
|
Net income attributable to noncontrolling interest |
(2,169 |
) |
(2,224 |
) |
(4,739 |
) |
(6,097 |
) |
Net income attributable to the Company's stockholders |
13,026 |
|
23,046 |
|
28,285 |
|
49,079 |
|
Earnings per share
attributable to the Company's stockholders: |
|
|
|
|
|
|
|
|
|
Basic |
0.23 |
|
0.45 |
|
0.51 |
|
0.96 |
|
|
|
|
|
|
Diluted |
0.23 |
|
0.45 |
|
0.50 |
|
0.95 |
|
Weighted average number of shares used in computation ofearnings
per share attributable to the Company's stockholders: |
|
|
|
|
Basic |
55,992 |
|
51,043 |
|
55,990 |
|
51,040 |
|
Diluted |
56,316 |
|
51,362 |
|
56,502 |
|
51,448 |
|
ORMAT TECHNOLOGIES, INC AND SUBSIDIARIESCondensed Consolidated
Balance SheetFor the Periods Ended June 30, 2021 and December 31,
2020
|
June 30,2021 |
|
December 31,2020 |
(Dollars in thousands) |
ASSETS |
Current assets: |
|
|
|
Cash and cash equivalents |
250,009 |
|
|
448,252 |
|
Marketable securities at fair value |
45,960 |
|
|
— |
|
Restricted cash and cash equivalents |
79,868 |
|
|
88,526 |
|
Receivables: |
|
|
|
Trade |
137,688 |
|
|
149,170 |
|
Other |
11,881 |
|
|
17,987 |
|
Inventories |
28,526 |
|
|
35,321 |
|
|
|
|
|
|
|
Costs and estimated earnings in excess of billings on uncompleted
contracts |
13,837 |
|
|
24,544 |
|
Prepaid expenses and other |
20,220 |
|
|
15,354 |
|
Total current assets |
587,989 |
|
|
779,154 |
|
Investment in unconsolidated
companies |
103,890 |
|
|
98,217 |
|
Deposits and other |
57,347 |
|
|
66,989 |
|
Deferred income taxes |
124,284 |
|
|
119,299 |
|
Property, plant and equipment,
net |
2,175,637 |
|
|
2,099,046 |
|
Construction-in-process |
531,634 |
|
|
479,315 |
|
Operating leases right of
use |
19,765 |
|
|
16347 |
|
Finance leases right of
use |
7,633 |
|
|
11633 |
|
Intangible assets, net |
185,508 |
|
|
194,421 |
|
Goodwill |
24,863 |
|
|
24,566 |
|
Total assets |
3,818,550 |
|
|
3,888,987 |
|
|
|
|
|
LIABILITIES AND EQUITY |
Current liabilities: |
|
|
|
Accounts payable and accrued expenses |
108,408 |
|
|
152,763 |
|
Billings in excess of costs and estimated earnings on uncompleted
contracts |
13,452 |
|
|
11,179 |
|
Current portion of long-term debt: |
|
|
|
Senior secured notes |
25,144 |
|
|
24,949 |
|
Other loans |
36,265 |
|
|
35,897 |
|
Full recourse |
56,843 |
|
|
17,768 |
|
Operating lease liabilities |
2,978 |
|
|
2,922 |
|
Finance lease liabilities |
3,139 |
|
|
3,169 |
|
Total current liabilities |
246,229 |
|
|
248,647 |
|
Long-term debt, net of current
portion: |
|
|
|
Limited and non-recourse: |
|
|
|
Senior secured notes |
301,330 |
|
|
315,195 |
|
Other loans |
267,310 |
|
|
284,928 |
|
Full recourse: |
|
|
|
Senior unsecured bonds |
674,643 |
|
|
717,534 |
|
Other loans |
54,961 |
|
|
59,556 |
|
Operating lease liabilities |
16,531 |
|
|
12,897 |
|
Finance lease liabilities |
5,190 |
|
|
9,104 |
|
Liability associated with sale
of tax benefits |
101,883 |
|
|
111,476 |
|
Deferred income taxes |
88,156 |
|
|
87,972 |
|
Liability for unrecognized tax
benefits |
3,464 |
|
|
1,970 |
|
Liabilities for severance
pay |
17,691 |
|
|
18,749 |
|
Asset retirement
obligation |
65,342 |
|
|
63,457 |
|
Other long-term
liabilities |
6,094 |
|
|
6,235 |
|
Total liabilities |
1,848,824 |
|
|
1,937,720 |
|
|
|
|
|
|
|
|
|
Redeemable noncontrolling
interest |
9,871 |
|
|
9,830 |
|
|
|
|
|
Equity: |
|
|
|
The Company's stockholders' equity: |
|
|
|
Common stock |
56 |
|
|
56 |
|
Additional paid-in capital |
1,267,448 |
|
|
1,262,446 |
|
Retained earnings |
565,225 |
|
|
550,103 |
|
Accumulated other comprehensive income (loss) |
(7,646 |
) |
|
(6,620 |
) |
Total stockholders' equity attributable to Company's
stockholders |
1,825,083 |
|
|
1,805,985 |
|
Noncontrolling interest |
134,772 |
|
|
135,452 |
|
Total equity |
1,959,855 |
|
|
1,941,437 |
|
Total liabilities, redeemable noncontrolling interest and
equity |
3,818,550 |
|
|
3,888,987 |
|
ORMAT TECHNOLOGIES, INC AND SUBSIDIARIESReconciliation of EBITDA
and Adjusted EBITDA For the Three and Six-Month Periods Ended June
30, 2021 and 2020
We calculate EBITDA as net income before
interest, taxes, depreciation and amortization. We calculate
Adjusted EBITDA as net income before interest, taxes, depreciation
and amortization, adjusted for (i) termination fees, (ii)
impairment of long-lived assets, (iii) write-off of unsuccessful
exploration activities, (iv) any mark-to-market gains or losses
from accounting for derivatives, (v) merger and acquisition
transaction costs, (vi) stock-based compensation, (vii) gain or
loss from extinguishment of liabilities, (viii) gain or loss on
sale of subsidiary and property, plant and equipment and (ix) other
unusual or non-recurring items. EBITDA and Adjusted EBITDA are not
measurements of financial performance or liquidity under accounting
principles generally accepted in the United States, or U.S. GAAP,
and should not be considered as an alternative to cash flow from
operating activities or as a measure of liquidity or an alternative
to net earnings as indicators of our operating performance or any
other measures of performance derived in accordance with U.S. GAAP.
We use EBITDA and Adjusted EBITDA as a performance metric because
it is a metric used by our Board of Directors and senior management
in evaluating our financial performance. However, other companies
in our industry may calculate EBITDA and Adjusted EBITDA
differently than we do.
The following table reconciles net income to
EBITDA and Adjusted EBITDA for the Three and Six-Month periods
ended June 30, 2021 and 2020.
|
Three Months Ended June 30, |
Six Months Ended June 30, |
|
2021 |
2020 |
2021 |
2020 |
|
(Dollars in thousands) |
(Dollars in thousands) |
Net income |
15,195 |
|
|
25,270 |
|
|
33,024 |
|
|
55,176 |
|
Adjusted for: |
|
|
|
|
Interest expense, net (including amortization of deferred
financingcosts) |
17,818 |
|
|
19,344 |
|
|
36,571 |
|
|
36,215 |
|
Income tax provision (benefit) |
4,268 |
|
|
11,766 |
|
|
7,275 |
|
|
29,914 |
|
Adjustment to investment in an unconsolidated company:
ourproportionate share in interest expense, tax and depreciation
andamortization in Sarulla |
2,899 |
|
|
3,199 |
|
|
5,364 |
|
|
5,876 |
|
Depreciation and amortization |
42,126 |
|
|
36,812 |
|
|
82,955 |
|
|
72,100 |
|
EBITDA |
82,306 |
|
|
96,391 |
|
|
165,189 |
|
|
199,281 |
|
Mark-to-market gains or losses
from accounting for derivative |
(990 |
) |
|
(1,482 |
) |
|
1,096 |
|
|
(2,043 |
) |
Stock-based compensation |
2,623 |
|
|
2,264 |
|
|
4,720 |
|
|
4,253 |
|
|
|
|
|
|
|
|
|
Reversal of a contingent liability |
— |
|
|
— |
|
|
(418 |
) |
|
— |
|
Allowance for bad debts
related to February power crisis in Texas |
— |
|
|
— |
|
|
2,980 |
|
|
— |
|
Hedge Losses resulting from
February power crisis in Texas |
|
|
|
|
9,133 |
|
|
|
Merger and acquisition
transaction costs |
474 |
|
|
618 |
|
|
958 |
|
|
1,158 |
|
Other write-off |
134 |
|
|
— |
|
|
134 |
|
|
— |
|
Settlement expenses |
— |
|
|
89 |
|
|
— |
1,277 |
|
Adjusted
EBITDA |
84,547 |
|
|
97,880 |
|
|
183,792 |
|
|
203,926 |
|
ORMAT TECHNOLOGIES, INC AND SUBSIDIARIES
Reconciliation of Adjusted Net Income
attributable to the Company's stockholders and Adjusted EPS For the
Three and Six-Month Periods Ended June 30, 2021 and 2020
Adjusted Net Income attributable to the
Company's stockholders and Adjusted EPS are adjusted for one-time
expense items that are not representative of our ongoing business
and operations. The use of Adjusted Net income attributable to the
Company's stockholders and Adjusted EPS is intended to enhance the
usefulness of our financial information by providing measures to
assess the overall performance of our ongoing business.
The following tables reconciles Net income
attributable to the Company's stockholders and Adjusted EPS for the
Three and Six-month periods ended June 30, 2021 and 2020.
|
Three Months Ended June 30, 2021 |
Six Months Ended June 30, 2021 |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in millions, except per share data) |
Net income attributable to the
Company's stockholders |
$ |
13.0 |
|
$ |
23.0 |
|
$ |
28.3 |
|
$ |
49.1 |
|
|
|
|
|
|
|
|
|
|
|
|
One-time net expense related
to February power crisis in Texas |
|
— |
|
|
— |
|
|
8.8 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Net income
attributable to the Company's stockholders |
$ |
13.0 |
|
$ |
23.0 |
|
$ |
37.1 |
|
$ |
49.1 |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares diluted used in computation
ofearnings per share attributable to the Company's
stockholders: |
56.3 |
|
|
51.4 |
|
|
56.5 |
|
|
51.4 |
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Adjusted EPS ($) |
|
0.23 |
|
|
0.45 |
|
|
0.66 |
|
|
0.95 |
Ormat Technologies Contact:Smadar LaviVP Corporate Finance and Head
of Investor Relations775-356-9029 (ext. 65726)slavi@ormat.com |
|
Investor Relations Agency Contact:Rob FinkFNK
IR646-415-8972rob@FNKIR.com |
Ormat Technologies (NYSE:ORA)
Historical Stock Chart
From Jul 2024 to Aug 2024
Ormat Technologies (NYSE:ORA)
Historical Stock Chart
From Aug 2023 to Aug 2024