NYSE$ORA
Ormat Technologies Inc. · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Ormat reported strong Q3 2024 results driven by the contribution of acquired Enel assets and successful drilling campaigns, leading to increased revenue and adjusted EBITDA.
Ormat Technologies reported a net income of $22.1 million and an adjusted EBITDA of $137.7 million for Q3 2024. The company narrowed its full-year revenue guidance and increased its full-year adjusted EBITDA guidance, reflecting strong financial results. The company also announced the commercial operation of its largest storage project to date.
- Electricity segment revenues increased due to the Enel assets and higher generation and pricing at Puna.
- Product segment backlog stands at approximately $165.0 million as of November 5, 2024.
- Energy Storage segment revenues decreased due to higher energy rates realized in ERCOT during the previous year.
- The company secured land parcels in Nevada’s BLM auction to further advance geothermal development in the state.
Headline financials
Revenue & EPS history
Ormat · Revenue · Quarterly
$212M
Revenue by segment
Ormat · $208M total across 3 segments · Q3 2023
- Electricity$157M-11.2%75.6%
- Product$39.8M+180.3%19.1%
- Energy Storage$11M+25.0%5.3%
Forward guidance
Ormat expects total revenues between $875 million and $893 million and adjusted EBITDA between $540 million and $555 million for 2024.
Tailwinds
- Total revenues of between $875 million and $893 million.
- Electricity segment revenues between $710 million and $715 million.
- Product segment revenues of between $130 million and $138 million.
- Energy Storage revenues of between $35 million and $40 million.
- Adjusted EBITDA to be between $540 million and $555 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 Q3 2024
-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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