Ormat Technologies, Inc.: Initiation of Coverage – Can They Capitalize On The  Advancements in Energy Storage Solutions?

Ormat Technologies showcased robust results in the first quarter of 2024, reflecting significant financial and operational progress. The company, which operates across electricity, product, and energy storage segments, reported a 21% increase in total revenues and a 25.5% rise in earnings per diluted share year-over-year. The adjusted EBITDA also increased by 14.4%, fueled by organic growth, efficiency improvements at operational facilities, and contributions from newly acquired assets from Enel Green Power North America.