Ormat Posts Strong Second-Quarter Results
We will be maintaining our $36 per share fair value estimate and stable narrow moat rating for Ormat Technologies after reporting its integrated geothermal power business generated $80.4 million in adjusted EBITDA, a 20% increase over second-quarter 2015 EBITDA of $66.8 million. Management confirmed its full-year revenue guidance of $620 million-$640 million and increased its adjusted EBITDA guidance to $310 million-$320 million from $300 million-$310 million. Our forecast for 2016 EBITDA remain...Ormat Technologies is a holding company. Through its subsidiaries, the company is engaged in the geothermal and recovered energy business. The company's segments include: Electricity, which develops, builds, owns and operates geothermal and recovered energy-based power plants in the U.S. and geothermal power plants in other countries and sells the electricity it generates; and Product, which designs, manufactures and sells equipment for geothermal and recovered energy-based electricity generation and remote power units and provides services relating to the engineering, procurement, construction, operation and maintenance of geothermal, Solar photovoltaic and recovered energy-based power plants.
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