Ormat raised full-year revenue guidance to $1.17 billion to $1.2 billion and adjusted EBITDA guidance to $640 million to $650 million after third-quarter revenue increased 10.2% and adjusted EBITDA rose 11.1% to $153.8 million.
ORA · Ormat Technologies, Inc.
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Ormat Technologies reported third-quarter revenue up 10.2% and Adjusted EBITDA up 11.1%, driven by Energy Storage revenue rising 145.2%. It raised full-year guidance midpoints and increased estimated EGS potential to 5 to 6 GW.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q3 FY26 earnings call · Nov 5, 2026TL;DR. Ormat delivered double-digit third-quarter growth, strong energy storage revenue growth and margins, and raised the midpoints of full-year revenue and adjusted EBITDA guidance. It also expanded its EGS potential and targets 2030 revenue and adjusted EBITDA run rates exceeding $1.5 billion and $1 billion, respectively. Electricity and product revenue declined, Puna clean-out work will temporarily reduce fourth-quarter revenue, and 2027 PGM merchant prices are expected to be below 2026 levels.
- + Third-quarter revenue increased 10.2%, net income attributable to stockholders rose 32.2%, and adjusted EBITDA increased 11.1%.
- + Energy storage revenue increased 145.2% to $49.9 million, and segment gross margin was 62.1%.
- + Ormat raised the midpoint of full-year revenue and adjusted EBITDA guidance to $1.17 billion-$1.2 billion and $640 million-$650 million, respectively.
- + Consolidated gross profit increased 20.8% to $77.4 million, and gross margin expanded 250 basis points to 28.1%.
- + Ormat expanded its EGS land position to approximately 170,000 acres and increased its estimated potential to 5-6 GW from 3-4 GW.
- + Ormat targets annual revenue and adjusted EBITDA run rates exceeding $1.5 billion and $1 billion, respectively, by the end of 2030, excluding EGS.
- − Electricity segment revenue declined 2.1% year over year to $163.7 million.
- − Electricity gross margin declined 330 basis points to 22.2%.
- − Product segment revenue declined 1.2% year over year to $61.5 million.
- − Product gross margin declined 520 basis points to 16.5%.
- − Puna well clean-out work is expected to temporarily reduce fourth-quarter electricity revenue.
- − Management expects 2027 PGM merchant prices to be lower than 2026 levels, which were more than double 2025 prices.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
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Guidance & track record
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Technicals
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Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Power generation in our power plants | 1,800,289 | the three months ended June 30, 2026 filing | — |
| Adjusted Diluted EPS non-GAAP | $1.79 | H1 2026 | — |
| Adjusted EBITDA non-GAAP | $338.8M | H1 2026 | — |
| Adjusted Net income attributable to the Company’s stockholders non-GAAP | $111.3M | H1 2026 | — |
| Product backlog | $202.8M | as of August 5, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Utilities - Renewable — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
ORA
this stock
Ormat Technologies, Inc.
|
$5.56B | -18.1% | +3.8% | 41.9 | 10.5% |
|
AXIAY
AXIA Energia S.A.
|
$20.99B | — | — | — | 0.1% |
|
BEP
Brookfield Renewable Partners L.P.
|
$20.50B | +11.2% | — | — | 0.3% |
|
EDRVY
EDP Renewables S.A.
|
$16.40B | — | — | — | 0.0% |
|
ENLT
Enlight Renewable Energy Ltd.
|
$9.24B | +45.3% | — | — | 0.9% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| ORA | -1.6% | +1.3% | -35.0% | +0.9% | -18.1% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -4.2% | +2.4% | -35.5% | +1.0% | -28.7% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.