Day: May 9, 2023

Continued Growth in Electricity Segment and Benefits From Inflation Reduction Act Drove Significant Expansion in Earnings and Adjusted EBITDA HIGHLIGHTSTOTAL NET INCOME GREW BY 57.5% AND OPERATING INCOME INCREASED BY 17.9% SUPPORTED BY IRA BENEFITS AND CONTRIBUTION FROM NEW ASSETS ADJUSTED EBITDA GREW BY 14.5% IN LINE WITH FULL YEAR RUN RATE GUIDANCE NEW CAPACITY OF 50MW IN OUR STORAGE AND ELECTRICITY SEGMENTSRENO, Nev., May 09, 2023 (GLOBE NEWSWIRE) — Ormat Technologies, Inc. (NYSE: ORA), a leading geothermal, energy storage, solar PV and recovered energy power company, today announced financial results for the first quarter ended March 31, 2023.KEY FINANCIAL RESULTS             (Dollars in millions, except per share) Q1 2023 Q1 2022 Change (%)GAAP Measures      Revenues      Electricity 170.3 162.5 4.8%Product 10.0 14.6 (31.4)...

Reports First Quarter 2023 Net Revenue of $34.9 Million Announces Headcount Reduction Geared to Achieve Adjusted EBITDA Profitability Target NEW YORK, May 09, 2023 (GLOBE NEWSWIRE) — Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the “Company”) today announced results for the first quarter ended March 31, 2023.  First Quarter HighlightsFirst quarter 2023 net revenue declined 16.3% to $34.9 million, compared to $41.7 million in the first quarter of 2022. First quarter 2023 gross margin declined to 54.8%, compared to 56.6% in the first quarter of 2022, primarily reflecting the impact of our strategy of liquidating high-cost inventory. First quarter 2023 contribution margin declined to 5.9% from 9.2% in the first quarter of 2022, primarily reflecting the impact of our strategy of liquidating high-cost inventory. First quarter 2023 operating...

Gross premiums written increased 27.8%;Net income of $5.9 million ($0.17 per diluted ordinary share);Fully diluted book value per share increased 1.1% to $14.75   GRAND CAYMAN, Cayman Islands, May 09, 2023 (GLOBE NEWSWIRE) — Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the “Company”) today reported its financial results for the first quarter ended March 31, 2023. First Quarter 2023 Highlights (all comparisons are to first quarter 2022 unless noted otherwise):Gross premiums written increased 27.8% to $186.5 million; Net premiums earned increased 13.3% to $142.6 million; Underwriting income of $0.4 million compared to an underwriting loss of $7.7 million; Net income of $5.9 million, or $0.17 per diluted ordinary share compared to a net loss of $5.7 million, or $(0.17) per diluted ordinary share; Combined ratio...

Revenue of $759 million in the First Quarter, down 2% Year-over-Year Public Cloud Revenue grew 7% Year-over-Year to $445 million Private Cloud Revenue was $314 million, down 12% Year-over-Year First Quarter 2023 Cash Flow Used in Operating Activities was $(2) million; Cash Flow From Operating Activities was $180 million on a Trailing-Twelve-Month BasisSAN ANTONIO, May 09, 2023 (GLOBE NEWSWIRE) — Rackspace Technology, Inc. (Nasdaq: RXT), a leading end-to-end multicloud technology solutions company, today announced results for its first quarter ended March 31, 2023. Amar Maletira, Chief Executive Officer, stated, “I am pleased that we delivered first quarter revenue and profit above the midpoint of our guidance. Additionally, we have now completed our first full quarter in our new two-business unit operating model, and we are...