Ormat Technologies FY24 Revenue $860M-$910M Vs $910.16M Est.;

Author: Benzinga Newsdesk | February 21, 2024 05:29pm

2024 GUIDANCE

• Total revenues of between $860 million and $910 million.
• Electricity segment revenues between $710 million and $730 million.
• Product segment revenues of between $115 million and $135 million.
• Energy Storage revenues of between $35 million and $45 million.
• Adjusted EBITDA to be between $515 million and $545 million.
  • Adjusted EBITDA attributable to minority interest of approximately $18 million.

The Company provides a reconciliation of Adjusted EBITDA, a non-GAAP financial measure for the quarter and year ended December 31, 2023. However, the Company does not provide guidance on net income and is unable to provide a reconciliation for its Adjusted EBITDA guidance range to net income without unreasonable efforts due to high variability and complexity with respect to estimating certain forward-looking amounts. These include impairments and disposition and acquisition of business interests, income tax expense, and other non-cash expenses and adjusting items that are excluded from the calculation of Adjusted EBITDA.

Posted In: ORA