Ormat Technologies reports Q3 adjusted EPS 42c, consensus 31c

Reports Q3 revenue $211.8M, consensus $216.79M. “Our third quarter financial performance was driven by the strong contribution of our recently acquired Enel assets and the results of two successful drilling campaigns at our Puna and Olkaria power plants. Adjusted EBITDA grew by 16.3% during the quarter, driven by growth across all three of our operating segments. In addition, we generated higher transferred PTCs during the quarter at improved PTC rates. This robust performance enabled us to raise our 2024 annual adjusted EBITDA guidance, highlighting Ormat’s strong financial results thus far this year and our confidence in our coming quarter.” said Doron Blachar, CEO of Ormat Technologies (ORA).