Quarterly ResultMay 6, 2026, 04:48 PM
Ormat Q1 Revenue +75.8% to $403.9M; Adj. EPS $1.30; Reiterates 2026 Guidance
AI Summary
Ormat Technologies reported record first-quarter 2026 financial results, with total revenues increasing 75.8% year-over-year to $403.9 million and adjusted diluted EPS rising 91.2% to $1.30. The strong performance was driven by significant growth in the Energy Storage and Product segments, alongside strategic advancements in geothermal and energy storage. The company also strengthened its financial position with a $1 billion convertible notes offering and reiterated its full-year 2026 guidance.
Key Highlights
- Total revenues increased 75.8% year-over-year to $403.9 million.
- Adjusted diluted EPS rose 91.2% to $1.30.
- Adjusted EBITDA grew 29.7% to $194.9 million.
- Energy Storage segment revenues surged 153.1% to $44.9 million.
- Product segment revenues increased 458.4% to $177.4 million.
- Secured approximately 270MW of new Power Purchase Agreements in the US.
- Closed a $1 billion convertible notes offering at attractive terms.
- Declared a quarterly dividend of $0.12 per share.