Geothermal power producer Ormat Technologies' Q3 revenue beats estimates

Ormat Technologies

03/11/2025 21:15

Overview

Ormat Q3 revenue grows 17.9% yr/yr, beating analyst expectations

Adjusted EPS for Q3 beats consensus, reflecting strong segment performance

Company increases full-year revenue and EBITDA guidance

Outlook

Ormat raises 2025 revenue guidance to $960 mln-$980 mln

Company increases 2025 adjusted EBITDA guidance to $575 mln-$593 mln

Ormat expects strong demand from data centers and favorable PPA pricing to drive growth

Result Drivers

PRODUCT SEGMENT - Revenue increased 66.6% due to new contracts and backlog growth

ENERGY STORAGE - Segment revenue rose 108.1% due to new facilities and higher merchant prices

ELECTRICITY SEGMENT - Growth supported by Blue Mountain acquisition and Dixie Valley performance

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$249.72 mln
$234.30 mln (9 Analysts)
Q3 Adjusted EPS
Beat
$0.41
$0.37 (8 Analysts)
Q3 Adjusted EBITDA
Beat
$138.40 mln
$135.33 mln (8 Analysts)
Q3 Gross Margin
25.60%
Q3 Operating Income
$40.40 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the electric utilities peer group is "buy"

Wall Street's median 12-month price target for Ormat Technologies Inc is $103.50, about 2.8% below its October 31 closing price of $106.37

The stock recently traded at 46 times the next 12-month earnings vs. a P/E of 39 three months ago

Press Release: ID:nGNX6d1S8G

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)