Morningstar

Morningstar, Inc.

Equity Bottom-Up

Ormat Technologies' geothermal plants offer utilities a more appealing source for renewable energy than wind and solar, which are less reliable--provided you can find the geothermal resource. As the industry leader in lower-heat geothermal power, Ormat's growth will come from development at more proven geothermal sites. However, a cost-effective battery storage and renewable energy combination providing similar around-the-clock capacity benefits as geothermal poses a long-term risk for Ormat's…

We are reaffirming our $47 fair value estimate for Ormat Technologies after the company reported first-quarter adjusted EBITDA of $101.8 million, up from $98.4 million in the year-ago period. Management reaffirmed its 2019 revenue guidance of $720 million-$742 million and adjusted EBITDA expectations of $370 million-$380 million, excluding any effects from Puna
Blended gross margins for the quarter were 37.3%, down from 39.9% in the year-ago period. Our full-year expectation for blended…

United States

Ormat Technologies, Inc. develops and operates renewable energy projects. The Company offers geothermal, recovered energy, and energy management and storage solutions. Ormat Technologies serves customers worldwide.

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