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Ormat Technologies Inc (ORA)
NYSE:ORA
Earnings Data
Report Date
May 13, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.83Last Year’s EPS
0.66Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted solid top-line growth, strong outperformance in Energy Storage and Product segments, significant commercial wins (notably large PPAs with Google and Switch), strategic M&A and progress on EGS partnerships. However, margin pressure in the Electricity segment driven by curtailments, a Q4 net income hit from impairments, and elevated leverage are notable concerns. Management provided constructive 2026 guidance and reiterated long-term capacity targets, while flagging some one-time items and continued execution risk on EGS commercialization.Company Guidance
Revenue Growth
Total revenues for 2025 increased 12.5% year-over-year to $989.6 million; fourth quarter revenue was $276 million, up 19.6% versus prior year.
Adjusted EBITDA and Adjusted Net Income Improvement
Full year adjusted EBITDA rose 5.7% to $582 million; fourth quarter adjusted EBITDA was $158.7 million, up 9.1% year-over-year. Full year adjusted net income was $137.3 million ($2.24 per diluted share), up from $133.7 million ($2.20).
Energy Storage Segment Outperformance
Energy Storage revenue grew 109.3% for the full year to $79 million and 140.5% in the fourth quarter, driven by elevated PJM prices and higher availability; segment gross margin was 51.5% in Q4 and 36.4% for the full year.
Product Segment Expansion
Product segment revenue increased 55.2% for the full year to $216.7 million and 59.1% in Q4, with full-year gross margin improving by ~280 basis points to 21.2%, driven by backlog conversion and better project profitability.
Large New PPAs and Contract Wins
Secured ~200 MW of new PPAs including a 15-year portfolio PPA for up to 150 MW supporting Google's Nevada data center (via NV Energy) and a 20-year PPA with Switch for ~13 MW from Salt Wells; two blend-and-extend agreements (~40 MW) pending approval — enhancing long-term revenue visibility and validating development/ exploration investments.
Strategic M&A and Project Commissioning
Commissioned Arrowleaf (first solar + battery in California), acquired Hoku (30 MW solar + 30 MW / 120 MWh BESS in Hawaii with a 25-year PPA) for $80.5 million, and continued positive contribution from Blue Mountain acquisition; added 72 MW in Q4, bringing portfolio to ~1,340 MW globally.
Progress on EGS and Strategic Partnerships
Advanced EGS commercialization via co-leading Sage Geosystems Series B financing, commercial agreement with Sage, and partnership with SLB; two pilots planned using Ormat facilities and potential future equipment/EPC opportunities.
Strong Liquidity and Tax Monetization
Collected over $180 million in cash monetization of PTCs/ITCs in 2025 (vs. $160M anticipated); cash and restricted cash increased to ~$281 million (from ~$206M); total available liquidity ~$680 million; recorded tax benefits that produced a negative tax rate (-20% in Q4) and expect negative 15%-20% in 2026.
2026 Guidance and Growth Targets
2026 revenue guidance of $1,110M–$1,160M (midpoint +14.6% YoY) and adjusted EBITDA guidance of $615M–$645M (midpoint +~8.2%); reaffirmed portfolio capacity target of 2.6–2.8 GW by end of 2028 and detailed CapEx plan (~$675M gross, net ~$575M after Topp2 sale).
Shareholder Returns
Board declared a quarterly dividend of $0.12 per share payable March 24, 2026, and expects to pay $0.12 per share in each of the next three quarters.
ORA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
ORA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $117.06 | ― | ― |
Nov 03, 2025 | $107.82 | $108.65 | +0.77% |
Aug 06, 2025 | $85.09 | $87.22 | +2.50% |
May 07, 2025 | $72.10 | $73.89 | +2.49% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Ormat Technologies Inc (ORA) report earnings?
Ormat Technologies Inc (ORA) is schdueled to report earning on May 13, 2026, After Close (Confirmed).
What is Ormat Technologies Inc (ORA) earnings time?
Ormat Technologies Inc (ORA) earnings time is at May 13, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ORA EPS forecast?
ORA EPS forecast for the fiscal quarter 2026 (Q1) is 0.83.