Ormat Technologies, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 05, 2021 at 02:00 pm EDT
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Ormat Technologies, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced total revenue was USD 146.901 million compared to USD 174.900 million a year ago. Operating income was USD 28.619 million compared to USD 48.075 million a year ago. Net income was USD 13.026 million compared to USD 23.046 million a year ago. Basic earnings per share from continuing operations was USD 0.23 compared to USD 0.45 a year ago. For the half year, total revenue was USD 313.253 million compared to USD 367.013 million a year ago. Operating income was USD 78.508 million compared to USD 109.132 million a year ago. Net income was USD 28.285 million compared to USD 49.079 million a year ago. Basic earnings per share from continuing operations was USD 0.51 compared to USD 0.96 a year ago. Diluted earnings per share from continuing operations was USD 0.5 compared to USD 0.95 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. 
