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Get filing alertsOrmat reports 10.6% revenue growth, raises 2026 guidance on Energy Storage strength
Filed August 5, 2026 · Period ending August 5, 2026 · ~1 min read
Key Changes
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Q2 2026 revenues rose 10.6% to $258.8M; gross profit up 20.8% to $68.7M; Adjusted EBITDA grew 6.9% to $143.9M, driven by strong operating performance across all three segments.
Item 2.02 verify on EDGAR → -
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Energy Storage revenues surged 195.1% year-over-year to $42.8M, capitalizing on high asset availability and favorable merchant pricing in the PJM market; gross margin expanded to 56.2% from 11.9%.
Exhibit 99.1 view on EDGAR → -
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Raised full-year 2026 guidance: total revenues now $1,150M–up to $1,200M and Adjusted EBITDA $630M–up to $650M, reflecting strong first-half results and positive momentum across segments.
Exhibit 99.1 view on EDGAR → -
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Advanced two EGS pilot programs: Desert Peak with SLB nearing Q4 2026 drilling; Sage Geosystems pilot selected Nevada site and nearing procurement completion; introduced Ormega100 surface generation unit.
Exhibit 99.1 view on EDGAR → -
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Board declared quarterly dividend of $0.12 per share, payable September 2, 2026, to shareholders of record August 19, 2026; expects to maintain $0.12 per share in next quarter.
Exhibit 99.1 view on EDGAR →
Summary
Ormat Technologies delivered strong second-quarter results and raised its full-year outlook, driven by exceptional performance in its Energy Storage segment and solid execution across its geothermal and product businesses.
The Energy Storage segment's nearly threefold revenue increase reflects the company's ability to capture favorable market conditions in PJM through high asset availability and new capacity additions, with gross margins expanding sharply to 56.2%.
The raised guidance—revenues now expected at $1,150M–up to $1,200M and Adjusted EBITDA at $630M–up to $650M—signals management confidence in sustained momentum through year-end. The company is also advancing its Enhanced Geothermal Systems strategy through two pilot programs. The Desert Peak project with SLB is on track for drilling in the fourth quarter, while the Sage Geosystems pilot has selected a Nevada power plant site and is nearing procurement completion. The introduction of the Ormat Ormega100 surface generation unit positions the company to accelerate conversion of EGS resources into grid-scale power. For income-focused investors, the $0.12 quarterly dividend continues unchanged, with management signaling the same payout next quarter.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Ormat Technologies reported Q2 2026 earnings results via press release furnished as Exhibit 99.1.
Added in current filing · verify on EDGAR →
On August 5, 2026 Ormat Technologies, Inc. (the “Registrant”) reported its earnings for its second fiscal quarter ended June 30, 2026.
The company disclosed its financial results for the second quarter ended June 30, 2026. The specific financial metrics are contained in the press release furnished as Exhibit 99.1, which is not included in the 8-K body text.
Added in current filing · verify on EDGAR →
The Registrant is making reference to non-GAAP financial measures in the press release. A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in the attached press release.
The company uses non-GAAP financial measures in its earnings announcement and provides reconciliations to GAAP measures in the press release. This is standard practice for earnings disclosures to provide additional context beyond GAAP results.
Event · Exhibit 99.1
Ormat reports Q2 2026 results with 10.6% revenue growth, raises full-year guidance, and advances EGS development strategy.
Added in current filing · view on EDGAR →
Energy Storage revenues for the three months ended June 30, 2026, increased 195.1% in the second quarter compared to the prior-year period. Growth was driven by the high availability of our assets, which allowed us to capitalize on strong merchant pricing in the PJM market, as well as new portfolio capacity additions over the past 12 months.
The Energy Storage segment delivered exceptional growth, with revenues increasing 195.1% year-over-year to $42.8 million in Q2 2026 from $14.5 million in Q2 2025. The segment benefited from high asset availability that enabled the company to capture favorable merchant pricing in the PJM market, combined with new capacity additions over the past year. Gross margin expanded significantly to 56.2% from 11.9% in the prior-year period.
Added in current filing · view on EDGAR →
Total revenues are expected to be between $1,150 million and $1,200 million. ... Adjusted EBITDA is expected to be between $630 million and $650 million.
Ormat raised its full-year 2026 guidance, now expecting total revenues between $1,150 million and $1,200 million, and Adjusted EBITDA between $630 million and $650 million. The increase reflects strong first-half performance and positive momentum across all three operating segments. The company provided segment-level revenue guidance: Electricity $710-725 million, Product $300-320 million, and Energy Storage $140-155 million.
Added in current filing · view on EDGAR →
At the Desert Peak project with SLB, we completed geophysical data acquisition, updated the subsurface model, advanced permitting and procurement of long-lead materials, and entered the final stages of vendor selection ahead of planned drilling in the fourth quarter of 2026. At the Sage Geosystems pilot, we selected a power plant in Nevada, advanced permitting activities, neared completion of procurement for drilling services and equipment and progressed engineering work to integrate the two-well EGS facility into the selected Ormat power plant. ... On the surface technology side, we introduced our Ormega100 surface generation unit
Ormat advanced its Enhanced Geothermal Systems (EGS) strategy through two pilot programs. The Desert Peak project with SLB is progressing toward drilling in Q4 2026, with geophysical data acquisition complete and vendor selection in final stages. The Sage Geosystems pilot has selected a Nevada power plant site and is nearing completion of procurement for drilling services. The company also introduced the Ormega100 surface generation unit, designed to convert subsurface EGS resources into grid-scale power at an accelerated pace.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 6, 2026 · How we verify