Ormat Technologies, Inc. Q2 2026 Earnings Recap

Ormat Technologies reported solid revenue growth driven by accelerating momentum across its electricity and energy storage segments, which propelled the shares up 10.3% following earnings.

Key Takeaways

• Q2 revenue rose 10.6% to $258.8 million, fueled primarily by a 195% jump in energy storage segment revenue and 5.8% growth in electricity segment revenue.
• Gross profit increased 20.8% to $68.7 million, lifting consolidated gross margin by 220 basis points to 26.5%, aided by strong storage asset margins.
• Adjusted EBITDA increased 6.9% to $143.9 million, reflecting higher contribution from energy storage.
• Product segment revenue declined 21.6% to $46.7 million due to timing of manufacturing and construction, with gross margin compressing to 9.7% amid rising costs and FX headwinds.
• Company raised full-year revenue and adjusted EBITDA guidance on the back of strong segment performance and ongoing development progress, including key capacity additions.