Ormat Technologies, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 02, 2022 at 06:05 pm EDT
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Ormat Technologies, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 183.71 million compared to USD 166.35 million a year ago. Revenue was USD 183.71 million compared to USD 166.35 million a year ago. Net income was USD 18.43 million compared to USD 15.26 million a year ago. Basic earnings per share from continuing operations was USD 0.33 compared to USD 0.27 a year ago. Diluted earnings per share from continuing operations was USD 0.33 compared to USD 0.27 a year ago.
Ormat Technologies, Inc. is a geothermal company that is engaged in geothermal and recovered energy generation (REG). The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter, a power generation unit that converts low, medium and high-temperature heat into electricity. It owns or has installed for utilities and developers worldwide, totaling approximately 3,200 megawatts (MW) of gross capacity. Its segments include Electricity Segment, Product Segment and Energy Storage Segment. Electricity segment develops, builds, owns, and operates geothermal and solar Photovoltaic (PV). Product segment designs, manufactures, and sells equipment for geothermal and recovered energy-based electricity generation. Energy Storage segment owns and operates a grid connected In Front of the Meter (IFM) Battery Energy Storage System (BESS) facilities. Its portfolio includes 1,385 MW with 1,215 MW geothermal and solar generation.
ORMAT TECHNOLOGIES, INC. 
