Ormat Technologies ( (ORA) ) has released its Q1 earnings. Here is a breakdown of the information Ormat Technologies presented to its investors.
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Ormat Technologies, Inc. is a leading geothermal and renewable energy company, known for its vertically integrated operations in geothermal and recovered energy generation, with a strong focus on expanding its energy storage market presence in the U.S. and globally.
In its first quarter of 2025, Ormat Technologies reported a 2.5% increase in total revenues and a 4.6% rise in net income attributable to stockholders, alongside a record adjusted EBITDA of $150.3 million, marking a 6.4% increase from the previous year. The company highlighted significant growth in its energy storage segment, which saw a 120% revenue increase, and announced the acquisition of the Blue Mountain Geothermal Power Plant.
Key financial metrics from the report include a 5.8% decline in electricity segment revenues due to curtailments, while the product segment saw a 27.9% revenue increase, driven by a higher backlog and improved contract margins. The energy storage segment’s impressive performance was attributed to new capacity and favorable market conditions. Ormat also announced strategic moves, including a new power purchase agreement and the commencement of operations at the Ijen geothermal plant in Indonesia.
Looking ahead, Ormat Technologies remains optimistic about its growth trajectory, reiterating its full-year guidance for 2025. The company expects to continue benefiting from strong demand for renewable energy and plans to enhance its portfolio through strategic acquisitions and developments, aiming to maximize profitability and support the transition to a sustainable energy future.