Ormat Technologies, Inc. (NYSE:ORA) Q2 2022 Earnings Conference Call August 4, 2022 10:00 AM ET

Company Participants

Sam Cohen - Investor Relations

Doron Blachar - Chief Executive Officer

Assi Ginzburg - Chief Financial Officer

Smadar Lavi - Vice President, Investor Relations and ESG Planning & Reporting

Conference Call Participants

Noah Kaye - Oppenheimer

Mark Strouse - JPMorgan

Operator

Good morning and welcome to the Ormat Technologies Second Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note that this event is being recorded. I would now like to turn the conference over to your host, Sam Cohen, with Alpha IR. Please go ahead.

Sam Cohen

Thank you, operator. Hosting the today are Doron Blachar, Chief Executive Officer; Assi Ginzburg, Chief Financial Officer; and Smadar Lavi, Vice President of Investor Relations and ESG Planning & Reporting.

Before beginning, we would like to remind you that information provided during this call may contain forward-looking statements relating to current expectations, estimates, forecasts and projections about future events that are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to the company’s plans, objectives and expectations for future operations and are based on management’s current estimates and projections, future results or trends. Actual results may differ materially from those projected as a result of certain risks and uncertainties. For a discussion of such risks and uncertainties, please see risk factors as described in Ormat Technologies’ Annual Report on Form 10-K and quarterly reports on Form 10-Q that are filed with the SEC.

In addition, during the call, the company will present non-GAAP financial measures such as adjusted EBITDA. Reconciliations to the most directly comparable GAAP measures and management reasons for presenting such information is set forth in the press release that was issued last night as well as in the slides posted on the website. Because these measures are not calculated in accordance with GAAP, they should not be considered in isolation from the financial statements prepared in accordance with GAAP.

Before I turn the call over to management, I would like to remind everyone that a slide presentation accompanying this call may be accessed on the company’s website at ormat.com under the Presentation link that’s found on the Investor Relations tab.

With all that said, I would like to now turn the call over to Doron Blachar. Doron, the call is yours.

Doron Blachar

Thank you, Sam and good morning everyone. Thank you for joining us today. In the second quarter, we continued the positive momentum from the beginning of the year, demonstrated by solid growth and advancement against our strategic initiatives and milestones that we laid out in the recent Investor Day. We are encouraged by the robust growth captured in both the company’s top line and adjusted EBITDA driven by strong performance from our Electricity segment and further supported by our growing Energy Storage segment.