Ormat Technologies Reports Second Quarter 2026 Financial Results

HIGHLIGHTS * CONTINUED STRONG OPERATING PERFORMANCE DROVE 10.6% REVENUE GROWTH, 20.8% GROSS PROFIT GROWTH AND 6.9% GROWTH IN ADJUSTED EBITDA * ENERGY STORAGE REVENUES NEARLY TRIPLED YEAR-OVER-YEAR, BENEFITING FROM FAVORABLE MERCHANT PRICING AND NEW CAPACITY ADDITIONS * ADVANCED THE COMPANY'S EGS STRATEGY THROUGH CONTINUED EXECUTION OF TWO PILOT PROGRAMS AND THE INTRODUCTION OF THE ORMEGA100 SURFACE GENERATION UNIT * ORMAT INCREASES ITS FULL-YEAR REVENUE AND ADJUSTED EBITDA GUIDANCE RENO, Nev., Aug. 05, 2026 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA) (the “Company” or “Ormat”), a leading geothermal and renewable energy company, today announced financial results for the second quarter ended June 30, 2026.

Q2 2026Q2 2025Change (%)H1 2026H1 2025Change (%) GAAP Measures Revenues ($ millions) Electricity169.3159.95.8%350.9340.23.1% Product46.759.6(21.6)%224.191.4145.3% Energy Storage42.814.5195.1%87.732.2172.0% Total Revenues258.8234.010.6%662.7463.842.9% Gross Profit68.756.920.8%189.1129.845.6% Gross margin (%) Electricity23.7%24.2%27.4%29.1% Product9.7%27.7%19.0%25.8% Energy Storage56.2%11.9%57.7%22.2% Gross margin (%)26.5%24.3%28.5%28.0% Operating income ($ millions)34.235.3(3.2)%114.586.232.7% Net income attributable to the Company’s stockholders27.128.0(3.4)%71.268.44.0% Diluted EPS ($)0.430.46(6.5)%1.141.121.8% Non-GAAP Measures Adjusted Net income attributable to the Company’s stockholders31.029.16.5%111.370.657.6% Adjusted Diluted EPS ($)0.500.484.2%1.791.1654.3% Adjusted EBITDA (1)($ millions)143.9134.66.9%338.8284.918.9%