NYSE$ORA
Ormat Technologies Inc. · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported a solid quarter marked by revenue growth and a substantial increase in net income.
Ormat Technologies reported a strong second quarter with a 15.2% increase in total revenues and a 114.8% increase in net income year-over-year. The company is expanding operations across its segments, adding approximately 100 MW of total capacity in geothermal, solar, and storage assets. The company increased its year-end 2025 growth target from an initial range of 1.8 GW- 1.86 GW to 1.9 GW - 2.0 GW.
- Total revenues for the second quarter increased by 15.2% year-over-year, driven primarily by robust growth in the Product segment.
- Net income attributable to the Company's stockholders and diluted EPS for the second quarter of 2023 increased 114.8% and 100%, respectively, versus the prior year period.
- Electricity segment revenues increased 2.7% for the second quarter of 2023, compared to 2022.
- Product segment revenues increased 222.0% for the second quarter of 2023, compared to 2022, supported by a higher backlog and timing of recognized revenues.
Headline financials
Revenue & EPS history
Ormat · Revenue · Quarterly
$195M
Revenue by segment
Ormat · $224M total across 3 segments · Q2 2023
- Electricity$178M+5.1%79.8%
- Product$36.7M+252.5%16.4%
- Energy Storage$8.45M+12.7%3.8%
Forward guidance
The company reiterates its full year revenue and EBITDA guidance.
Tailwinds
- Total revenues of between $823.0 million and $858.0 million.
- Electricity segment revenues between $670.0 million and $685.0 million.
- Product segment revenues of between $120.0 million and $135.0 million.
- Energy Storage revenues of between $33.0 million and $38.0 million.
- Adjusted EBITDA to be between $480.0 million and $510.0 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-0.2%
Avg return
Earnings day
-0.7%
Avg return
5 days after
+1.0%
Avg return
30 days after
56%
37 / 66 earnings
Positive
+11.1%
Q2 2019
Best reaction
-16.8%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +6.4% | +9.8% | +22.0% | |
| Q4 2025 | -9.3% | -9.4% | -4.3% | |
| Q3 2025 | +1.1% | +5.2% | +4.1% | |
| Q1 2025 | +2.3% | +1.5% | +7.6% | |
| Q4 2024 | +1.0% | +1.9% | +3.3% | |
| Q3 2024 | +1.5% | +2.4% | -3.5% | |
| Q2 2024 | -0.4% | -0.4% | +1.3% | |
| Q1 2024 | +1.3% | +3.8% | +8.7% | |
| Q4 2023 | -4.3% | -4.5% | -0.8% | |
| Q3 2023 | -2.9% | -8.4% | +9.7% | |
| Q2 2023 | -2.6% | -1.9% | -4.3% | |
| Q1 2023 | -1.4% | -0.8% | +3.7% | |
| Q4 2022 | -7.5% | -5.3% | -9.1% | |
| Q3 2022 | +7.2% | +11.8% | +0.8% | |
| Q2 2022 | +3.3% | +2.4% | +5.1% | |
| Q1 2022 | +0.8% | +0.1% | +7.6% | |
| Q4 2021 | +7.5% | +10.3% | +22.0% | |
| Q3 2021 | +3.4% | +5.8% | +4.8% | |
| Q2 2021 | -1.9% | -6.5% | +0.4% | |
| Q1 2021 | +0.3% | -5.4% | -1.8% | |
| Q4 2020 | -12.6% | -18.1% | -27.2% | |
| Q3 2020 | -6.3% | +4.6% | +5.7% | |
| Q2 2020 | +2.1% | +1.6% | +0.2% | |
| Q1 2020 | +8.3% | +3.7% | +12.7% | |
| Q4 2019 | -12.8% | -16.3% | -19.8% | |
| Q3 2019 | +1.0% | -1.4% | +0.9% | |
| Q2 2019 | +11.1% | +9.7% | +11.5% | |
| Q1 2019 | +3.2% | +4.5% | +3.9% | |
| Q4 2018 | -5.1% | -1.4% | -2.8% | |
| Q3 2018 | -2.9% | -3.3% | -1.2% | |
| Q2 2018 | -6.9% | -3.1% | -1.2% | |
| Q1 2018 | -7.1% | -5.4% | -14.1% | |
| Q4 2017 | -9.4% | -11.6% | -9.9% | |
| Q3 2017 | -2.6% | -2.8% | -2.8% | |
| Q2 2017 | -4.3% | -5.1% | -5.3% | |
| Q1 2017 | -0.7% | -1.8% | +2.8% | |
| Q4 2016 | +4.3% | +2.1% | +0.6% | |
| Q3 2016 | -0.0% | -1.7% | +3.4% | |
| Q2 2016 | +5.7% | +4.4% | +5.9% | |
| Q1 2016 | +1.6% | — | — | |
| Q4 2015 | +3.0% | — | — | |
| Q3 2015 | +0.7% | — | — | |
| Q2 2015 | -5.6% | — | — | |
| Q1 2015 | +0.2% | — | — | |
| Q4 2014 | +4.1% | — | — | |
| Q3 2014 | -0.8% | — | — | |
| Q2 2014 | -3.5% | — | — | |
| Q1 2014 | +8.1% | — | — | |
| Q4 2013 | +3.7% | — | — | |
| Q3 2013 | +2.3% | — | — | |
| Q2 2013 | +4.6% | — | — | |
| Q1 2013 | +1.6% | — | — | |
| Q4 2012 | -5.7% | — | — | |
| Q3 2012 | -3.6% | — | — | |
| Q2 2012 | +9.4% | — | — | |
| Q1 2012 | +8.8% | — | — | |
| Q4 2011 | +2.1% | — | — | |
| Q3 2011 | -0.5% | — | — | |
| Q2 2011 | -16.8% | — | — | |
| Q1 2010 | +2.1% | — | — | |
| Q1 2011 | +2.1% | — | — | |
| Q4 2008 | -1.2% | — | — | |
| Q4 2010 | -1.2% | — | — | |
| Q3 2010 | +0.1% | — | — | |
| Q4 2009 | +0.7% | — | — | |
| Q2 2010 | +0.7% | — | — |
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