Ormat Technologies reports Q3 adjusted EPS 41c, consensus 38c

Reports Q3 revenue $249.7M, consensus $234.27M. “Our strong third quarter results reflect the continued progress and execution of our growth strategy, highlighted by a 17.9% rise in revenue, 13.3% increase in operating income, 9.3% growth in net income attributable to the company’s stockholders and continued expansion in adjusted EBITDA,” said Doron Blachar, CEO. “Consistent with the past few quarters, our Energy Storage and Product segments continue to deliver strong results and exhibit encouraging growth, with revenue in the quarter for the two segments up 108.1% and 66.6%, respectively, while showing significant margin improvement. Within the Energy Storage segment, our results continued to benefit from the recent operation of new facilities that came online in 2024 and in the first half of 2025, including our new 60MW/120MWh Lower Rio facility. In the Product segment, we signed a new contract that increased our backlog to $295M and is expected to support elevated 2026 revenues. Electricity segment results during the quarter benefited from portfolio expansion, specifically the recent Blue Mountain power plant acquisition, as well as the improved performance at our Dixie Valley facility. These contributions helped offset a $5.5M negative combined impact from the September storm-related grid failure in the Imperial Valley, California, as well as curtailments in the U.S. and ongoing enhancement work at our Stillwater power plant in Nevada. In addition, there was a $3.2M reduction in revenues and gross margin at the Puna complex in Hawaii due to lower energy rates.”