ORA Earnings Prediction
The chart below shows how ORA performed 10 days before and after its earnings report, based on data from the past quarters. Typically, ORA sees a -0.79% change in stock price 10 days leading up to the earnings, and a +2.94% change 10 days following the report. On the earnings day itself, the stock moves by -0.34%. This data can give you a slight idea of what to expect for the next quarter's release.
ORA Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
211.78M
1.79%
-0.55%
Gross Margin
27.79%
-3.64%
-3.57%
Operating Margin
17.00%
-5.87%
0.35%
Net Margin
11.47%
-34.31%
1.96%
EPS
0.36
-38.98%
-2.70%
No Data Available
ORA Earnings Analysis
Ormat Technologies, Inc. Corporation (ORA.N) Earnings Conference Call
Positive
Adjusted EBITDA Increase: 1. Strong Adjusted EBITDA Growth: Ormat reported a 16.3% increase in adjusted EBITDA, reaching $137.7 million compared to $118.3 million in the prior year, driven by contributions from acquired assets and improved operational performance.
Electricity Segment Revenue Growth: 2. Revenue Increase in Electricity Segment: The Electricity segment revenue grew by 4.7% to $164.6 million, supported by contributions from recently acquired Enel assets and enhanced performance at the Puna complex.
Tax Benefit Increase: 3. Significant Tax Benefits: The company recorded $19.8 million in income related to tax benefits, an increase from $14.9 million in the previous year, primarily due to the Beowawe power plant's operation and increased PTC value.
Cash Position and Liquidity: 4. Strong Cash Position and Liquidity: Ormat maintains approximately $675 million in total available liquidity, ensuring ample access to capital for growth initiatives and operational needs.
Quarterly Dividend Announcement: 5. Quarterly Dividend Declaration: The Board of Directors declared a quarterly dividend of $0.12 per share, payable on December 4, 2024, reflecting the company's commitment to returning capital to shareholders.
Negative
Net Income Decrease: 1. Decline in Net Income: Net income attributable to stockholders decreased to $22.1 million or $0.36 per diluted share, down from $35.5 million or $0.59 per diluted share in the prior year, primarily due to a $9.4 million tax income recorded in Q3 2023.
Gross Profit Decline: 2. Gross Profit Decrease: Gross profit for Q3 2024 was $58.9 million, a decline from $60 million in Q3 2023, resulting in a gross margin decrease from 28.8% to 27.8%.
Energy Storage Revenue Decline: 3. Energy Storage Revenue Drop: Revenue from the Energy Storage segment fell by 11.1% to $9.8 million, attributed to lower prices in the ERCOT market compared to the previous year.
Dixie Valley Outage Impact: 4. Dixie Valley Facility Impact: The unplanned partial outage at the Dixie Valley plant negatively impacted revenue and EBITDA by approximately $4.2 million and $4.1 million, respectively, during the third quarter.
Cash Position Decrease: 5. Cash Position Decline: Cash and cash equivalents decreased to $176.8 million as of September 30, 2024, down from $287.8 million at the end of 2023, indicating a weakened cash position.
ORA FAQs
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ORA Earning Call Sentiment
Ormat Technologies, Inc. (ORA) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
ORA.N
0.66%Positive
The earnings call presents a mixed picture: strong adjusted EBITDA growth and optimistic guidance for geothermal PPAs are positive, yet declining net income, lower energy storage revenue, and competitive pressures are concerning. The SEC investigation's conclusion without action is positive, but operational risks and economic delays present challenges. The lack of share repurchase and modest dividend are neutral. Given the market cap, the stock is likely to remain stable, with no significant catalysts for a major move.
