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Stock Market & Financial Investment News

News Breaks
January 28, 2013
09:53 EDTORAOrmat Technologies announce spartnership transaction of geothermal power plants
Ormat Technologies announced that Ormat Nevada Inc., a wholly-owned subsidiary, and JPM Capital Corporation entered into a tax equity partnership transaction involving eight geothermal power plants in California and Nevada. Under the transaction, Ormat Nevada transferred the plants into a new subsidiary, ORTP, LLC, and sold an interest in the limited liability company to JPM. In connection with the closing, JPM paid approximately $35.7M to Ormat Nevada and will make additional payments estimated by Ormat at approximately 25% of the value of production tax credits generated by the portfolio over time. The additional payments are expected to be made until December 31, 2016 and total approximately $8.7M.
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February 25, 2015
09:47 EDTORAOrmat Technologies sees FY15 revenue $560M-$580M, consensus $575.33M
Sees FY15 capital expenditures of $249M and debt repayment of $92M, for total FY15 capital needs of $341M. Says projects company anticipates working on in 2015 may add between 90-115 MW in the years 2016 to 2017. Guidance from slides for Q4 earnings conference call.
February 24, 2015
19:36 EDTORAOrmat Technologies sees FY15 adjusted EBITDA of $280M-$290M
Ormat CEO Isaac Angel said, "We expect our 2015 electricity revenues to be between $380.0M-$390.0M and our product segment revenues to be between $180.0M-$190.0M. In addition, as we continue to make operational progress and monetize our assets, we felt it was an appropriate time to transition to a more traditional, operational-focused methodology for calculating adjusted EBITDA. For 2015, we expect to generate adjusted EBITDA of $280.0M-$290.0M."
19:34 EDTORAOrmat Technologies reports Q4 ex-items EPS 31c, consensus 38c
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