Ormat Technologies, Inc.: Enhanced Focus on U.S. Market and Diversified Expansion Strategy!

Ormat Technologies’ second-quarter earnings for 2024 demonstrated significant financial growth and solid operational performance across all its segments. The company reported a 9.3% increase in total revenues, which amounted to $213 million. This revenue growth was driven primarily by the Electricity segment, attributed to asset acquisitions and improvements at specific facilities. These developments collectively enhanced the segment’s revenue by 7%. Moreover, a notable 25% increase in adjusted EBITDA, reaching $126.1 million, highlighted effective margin enhancement strategies and robust operational efficiency. The net income attributable to the company’s stockholders stood at $22.2 million, slightly down from $24.2 million in the previous year. This adjustment was primarily due to asset write-offs and decommissioning costs.