ORA ORMAT TECHNOLOGIES, INC.
Price Chart
Executive Summary
Ormat Technologies reported Q1 2026 results that significantly beat consensus on both revenue and adjusted EPS, driven by record product segment revenue from the Topp 2 project and strong energy storage performance. Adjusted diluted EPS of $1.30 exceeded the $0.92 consensus by 41%, while revenue of $403.9M beat the $349.2M estimate by 16%. Full-year 2026 guidance was reiterated, not raised.
Key Financial Metrics
Actionable Insight
Record Q1 beat but guidance unchanged; focus on conference call for commentary on sustainability of product segment momentum (Topp 2 was one-time) and updates on 2028 capacity targets. The recent $1B convertible offering may cap upside near term.
Key Facts
- Total revenues $403.9M, +75.8% YoY (record quarter)
- Adjusted diluted EPS $1.30 vs $0.68 YoY, +91.2%
- Adjusted EBITDA $194.9M, +29.7% YoY
- Product segment revenue $177.4M, +458% YoY (Topp 2 sale)
- Energy Storage revenue $44.9M, +153.1% YoY
- Electricity segment revenue $181.6M, +0.8% YoY
- FY2026 guidance reiterated: revenue $1.11B-$1.16B, Adj. EBITDA $615M-$645M
- Closed $1B convertible notes offering in March 2026
Financial Impact
Revenue beat by ~15.7% ($54.7M above consensus), adjusted EPS beat by ~41.3% ($0.38 above consensus)
Risk Factors
- Product revenue lumpiness (Topp 2 sale non-recurring); Electricity segment growth stagnating at +0.8%
- Dilution from $1B convertible notes; high debt levels
- Continued merchant pricing volatility in energy storage market
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-015235 |
| Document: ora20260506_8k.htm | 0001437749-26-015235 |
| Document: 0001437749-26-015235-index-headers.html | 0001437749-26-015235 |
| Document: 0001437749-26-015235-index.html | 0001437749-26-015235 |
| Document: 0001437749-26-015235.txt | 0001437749-26-015235 |
| 8-K Data (Synthetic) | 0001437749-26-015235 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 15, 2026
5d ago
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Insider Cluster
| — | awaiting T+5 | — | — |
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May 15, 2026
5d ago
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144
| $131.54 awaiting T+5 | awaiting T+5 | — | $131.78 (+0.18%) |
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May 6, 2026
14d ago
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8-K
| $122.52 $133.39 | ▲ +8.87% | ▲ +7.37% | $131.78 (+7.56%) |
|
Apr 21, 2026
29d ago
|
DEFA14A
| $107.00 $112.40 | ▲ +5.04% | ▲ +4.99% | $131.78 (+23.16%) |
|
Mar 31, 2026
7w ago
|
Press Release
| $111.92 $113.48 | ▲ +1.39% | ▼ −2.55% | $131.78 (+17.74%) |
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Mar 23, 2026
8w ago
|
8-K
| $109.14 $109.44 | ▲ +0.27% | ▲ +3.84% | $131.78 (+20.74%) |
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Mar 12, 2026
9w ago
|
Press Release
| $110.06 $110.52 | ▲ +0.42% | ▲ +1.40% | $131.78 (+19.73%) |
|
Feb 26, 2026
11w ago
|
8-K
| $106.35 $107.69 | ▲ +1.26% | ▲ +2.39% | $131.78 (+23.91%) |
US Market Status
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