OPC Energy Q2 Revenue More Than Doubles to $379M, Net Profit Jumps to $15M
KEN sits 65% above its 52-week low of $41.5.
Summary
Kenon's OPC Energy unit reported Q2 revenue of $379 million, more than double the prior year, driven by higher Israeli consumption, a stronger shekel, and first-time consolidation of U.S. power plants. Net profit rose to $15 million from $1 million. This follows OPC's strong H1 results and a $93 million arbitration payment from Peru received in August. The revenue surge reflects both organic growth and acquisition integration, but no forward guidance was provided.
At the time of this announcement, KEN was trading at $68.57 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.6B. The 52-week trading range was $41.50 to $95.93. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.