Ormat Technologies, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 21, 2024 at 04:27 pm EST
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Ormat Technologies, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 241.34 million compared to USD 205.49 million a year ago. Revenue was USD 241.34 million compared to USD 205.49 million a year ago. Net income was USD 35.73 million compared to USD 18.04 million a year ago. Basic earnings per share from continuing operations was USD 0.59 compared to USD 0.32 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to USD 0.32 a year ago.
For the full year, sales was USD 829.42 million compared to USD 734.16 million a year ago. Revenue was USD 829.42 million compared to USD 734.16 million a year ago. Net income was USD 124.4 million compared to USD 65.84 million a year ago. Basic earnings per share from continuing operations was USD 2.09 compared to USD 1.17 a year ago. Diluted earnings per share from continuing operations was USD 2.08 compared to USD 1.17 a year ago.
Ormat Technologies, Inc. is a geothermal company that is engaged in geothermal and recovered energy generation (REG). 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. It owns or has installed for utilities and developers worldwide, totaling approximately 3,200 megawatts (MW) of gross capacity. Its segments include Electricity Segment, Product Segment and Energy Storage Segment. Electricity segment develops, builds, owns, and operates geothermal and solar Photovoltaic (PV). Product segment designs, manufactures, and sells equipment for geothermal and recovered energy-based electricity generation. Energy Storage segment owns and operates a grid connected In Front of the Meter (IFM) Battery Energy Storage System (BESS) facilities. Its portfolio includes 1,385 MW with 1,215 MW geothermal and solar generation.
ORMAT TECHNOLOGIES, INC. 
