Welcome to our dedicated page for Ormat Tech news (Ticker: ORA), a resource for investors and traders seeking the latest updates and insights on Ormat Tech stock.
Ormat Technologies develops, owns, and operates geothermal, solar PV, recovered energy, and battery energy storage assets, while also designing and selling equipment for geothermal and recovered energy power plants. News about ORA commonly covers quarterly results, power purchase agreements, commercial operations at storage facilities, geothermal development, Enhanced Geothermal Systems strategy, and capital actions such as convertible senior notes.
The company’s updates also reference the Ormat Energy Converter, recovered energy generation projects, energy storage services, and renewable power portfolios in the United States and international geothermal markets.
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Ormat Technologies Inc. (NYSE: ORA), a key player in geothermal and energy storage, will release its first quarter 2023 financial results on May 09, 2023, after market closure. A conference call to discuss these results is scheduled for May 10, 2023, at 9:00 a.m. ET. Participants in the U.S. and Canada can join by calling 1-888-770-2286, while international participants can call +1-646-960-0440 using the access code 9122486. The call will also be available via a live webcast on the company's website. A replay will be accessible after the call for those unable to attend live. Ormat has a strong history, boasting over 3,200 MW of gross capacity across its geothermal and energy storage portfolios, with operations spanning multiple countries. The company focuses on expanding its footprint in the growing U.S. energy storage market.
Ormat Technologies, Inc. (NYSE: ORA) announced a public offering of 3,600,000 shares of its common stock, priced to close on March 16, 2023. An additional 540,000 shares may be purchased by the underwriter within 30 days. The net proceeds will support general corporate needs, working capital, capital expenditures, and potential acquisitions. Goldman Sachs & Co. LLC is the sole book-running manager for the offering, which is conducted under an effective shelf registration statement filed in November 2020. The offering aims to bolster Ormat’s financial flexibility and growth opportunities in the energy sector.
Ormat Technologies (NYSE: ORA) has initiated an underwritten public offering of 3,600,000 shares of its common stock, with the underwriter holding a 30-day option to acquire an additional 540,000 shares. Proceeds from this offering will be allocated for general corporate purposes, including working capital, capital expenditures, and potential acquisitions of complementary businesses or assets. The offering is led by Goldman Sachs as the sole book-running manager, and its completion is subject to market conditions. The offering is made under an automatically effective shelf registration statement filed with the SEC.
Ormat Technologies (NYSE: ORA) reported total revenues of $734.1 million for 2022, marking a 10.7% year-over-year increase. The company's operating income rose by 10.7% in Q4 and 8.3% for the full year, despite a $30.5 million one-time impairment charge. Adjusted EBITDA is projected between $480 million and $510 million for 2023, reflecting a potential growth of up to 17%. Key growth drivers include new geothermal and solar power plants along with increased demand for renewable energy. The company faces challenges with a 4.6% decline in net income for Q4 but expects strong tailwinds from the Inflation Reduction Act.
Ormat Technologies Inc. (NYSE: ORA) announced plans to publish its fourth quarter and full year 2022 financial results on February 22, 2023, after market close. The company will host a conference call on February 23, 2023, at 10:00 a.m. ET to discuss these results. Interested U.S. and Canadian participants can dial 1-888-770-2286, while international attendees can reach out at +1-646-960-0440, using access code 9122486. The call will also be available via a live webcast on the Investor Relations section of the company's website. A replay will be accessible shortly after the call's conclusion.