ORMAT TECHNOLOGIES, INC. (ORA) Form 8-K — Aug 5, 2026
Ormat Technologies reported Q2 2026 revenues of $258.8 million, up 10.6% year-over-year, with gross profit up 20.8% to $68.7 million and Adjusted EBITDA up 6.9% to $143.9 million. Energy storage revenue nearly tripled (+195.1%) to $42.8 million on favorable merchant pricing in the PJM market and new capacity additions. GAAP net income attributable to stockholders was $27.1 million, or $0.43 per diluted share, down 3.4% year-over-year, primarily due to a $6.6 million write-off of storage projects the company decided not to pursue. Adjusted diluted EPS rose 4.2% to $0.50, and the product backlog stood at approximately $202.8 million as of August 5, 2026.
Key figures
- Eps
- $0.43 GAAP diluted (Q2 2026); $0.50 adjusted diluted
- Revenue
- $258.8 million (Q2 2026 total revenues)
- Guidance
- FY2026 total revenues $1,150-$1,200 million; Adjusted EBITDA $630-$650 million (raised)
- Net Income
- $27.1 million GAAP net income attributable to stockholders (Q2 2026, -3.4% YoY)
- Revenue Yoy
- +10.6% (Q2 2026 vs Q2 2025); H1 2026 +42.9% to $662.7 million
- Total Assets
- $6.79 billion (June 30, 2026)
- Cash Position
- $513.7 million cash and cash equivalents (June 30, 2026)
- Shares Outstanding
- 61496941
- Gross Profit
- $68.7 million (Q2 2026, +20.8% YoY); gross margin 26.5%
- Denali Project
- 100 MW / 400 MWh California storage facility, 20-year tolling agreement, completion expected by end of 2028
- Adjusted EBITDA
- $143.9 million (Q2 2026, +6.9% YoY); H1 2026 $338.8 million (+18.9%)
- Growth Pipeline
- 202 MW electricity generation plus 497 MW / 1,888 MWh storage under construction and development
- Product Backlog
- approximately $202.8 million as of August 5, 2026
- Product Revenue
- $46.7 million (Q2 2026, -21.6% YoY); product gross margin 9.7%
- Portfolio Capacity
- 1,850 MW total: 1,355 MW geothermal/solar plus 495 MW energy storage
- Adjusted Diluted EPS
- $0.50 (Q2 2026, +4.2% YoY)
- Electricity Revenue
- $169.3 million (Q2 2026, +5.8% YoY)
- Net Interest Expense
- $43.9 million (Q2 2026) vs $36.7 million (Q2 2025)
- Energy Storage Revenue
- $42.8 million (Q2 2026, +195.1% YoY)
- Smi Financing Facility
- up to $40 million with PT Sarana Multi Infrastruktur for Wapsalit geothermal project (World Bank GREM Program)
- Storage Projects Write Off
- $6.6 million (Q2 2026)
- Guidance Minority Interest
- approximately $17.0 million of guided Adjusted EBITDA attributable to minority interest
- Quarterly Dividend Per Share
- $0.12, payable September 2, 2026 to holders of record August 19, 2026; $0.12 expected next quarter
Price after filing
Close on the filing date to close N calendar days later (from $100.08). Historical, not a forecast.
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