Ormat's management continues to drive margin improvement and identify new growth opportunities.
We are maintaining our $54 fair value estimate for Ormat Technologies after the company reported third-quarter adjusted EBITDA of $74.4 million compared with $85.4 million in the year-ago period. Management narrowed 2018 guidance for revenue of $686 million-$696 million and adjusted EBITDA of $343 million-$348 million, in line with our full-year expectations.As expected, the blended gross margin of the electricity and product segments contracted, declining to 37.7% from 40.3% in the year-ago ...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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