Ormat Technologies Q4 Earnings Meet Estimates, Revenues Beat

Ormat Technologies Inc. ORA reported fourth-quarter 2025 adjusted earnings per share of 67 cents, which came in line with the Zacks Consensus Estimate. However, the bottom line decreased 6.9% from 72 cents in the year-ago quarter.

The company reported GAAP earnings of 50 cents per share compared with 67 cents in the year-ago quarter.

For 2025, Ormat Technologies generated adjusted earnings of $2.24 per share, up from $2.20 reported in the previous year.

ORA’s Total Revenues

ORA generated revenues of $276 million, which topped the Zacks Consensus Estimate of $258 million by 7%. The top line also increased 19.6% year over year, driven by higher revenues from its electricity, product and energy storage segments.

For 2025, the company generated revenues worth $989.5 million, up 12.5% from $879.7 million recorded in 2024.

ORA’s Segmental Performance

Electricity: Revenues in this segment amounted to $186.6 million, up 3.6% year over year. This upside was primarily due to contributions from the Blue Mountain power plant, acquired in June 2025, and improved generation performance at Dixie Valley.

Product: This segment’s revenues surged 59.1% to $63.1 million from the year-ago quarter’s level. The improvement was due to the timing of revenue recognition from manufacturing and construction progress.

Energy: Revenues in this division amounted to $26.3 million, up 140.5% from the prior-year quarter’s figure. This was driven by higher merchant pricing in the PJM market, commercial operation of Bottleneck and Montague in the fourth quarter of 2024 and Lower Rio and the Arrowleaf hybrid solar-plus-storage facility in the second half of 2025.

ORA’s Operational Update

Ormat Technologies’ total operating expenses (research and development, selling and marketing, as well as general and administrative expenses) were $28.2 million, which rose 12.3% from the year-ago quarter’s level.

The operating income declined 13.3% year over year to $42.6 million.

The total cost of revenues was $197.2 million, up 25.5% year over year.

Net interest expenses were $35 million, which rose 1.4% year over year.

Ormat’s Financial Condition

ORA had cash and cash equivalents of $147.4 million as of Dec. 31, 2025, compared with $94.4 million as of Dec. 31, 2024.

ORA’s 2026 Guidance

The company initiated its guidance for 2026. It expects to generate revenues in the range of $1.11-$1.16 billion. The Zacks Consensus Estimate is pegged at $1.15 billion, which lies at the higher end of the company’s guided range.

Revenues for the Electricity segment are anticipated in the band of $715-$730 million. The Product segment’s revenues are now expected in the range of $300-$320 million. Revenues for the Energy Storage segment are now projected between $95 million and $110 million.

ORA anticipates annual adjusted EBITDA in the band of $615-$645 million.

ORA’s Zacks Rank

Ormat currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Sector Releases

TotalEnergies SE TTE reported fourth-quarter 2025 operating earnings of $1.73 (€1.48) per share, which missed the Zacks Consensus Estimate of $1.80 by 3.9%. The bottom line dropped 8.9% from the year-ago figure of $1.9 (€1.78). 

Total revenues for the fourth quarter were $45.92 billion, which declined from the year-ago reported figure of $47.1 billion by 2.52%. The figure beat the Zacks Consensus Estimate of $36.69 billion by 25.2%. 

Plains All American Pipeline, L.P. PAA reported fourth-quarter 2025 adjusted earnings of 40 cents per share, which lagged the Zacks Consensus Estimate of 47 cents by 14.9%. In the year-ago quarter, the firm reported earnings of 42 cents.

Net sales of $10.57 billion missed the Zacks Consensus Estimate of $11.55 billion by 8.5%. The top line also decreased 12.2% from the year-ago quarter’s figure of $12.04 billion. 

CNX Resources Corporation CNX reported fourth-quarter 2025 operating earnings of 68 cents per share, which beat the Zacks Consensus Estimate of 40 cents by 70.0%. The bottom line also increased 19.3% from 57 cents in the year-ago quarter.

The company reported revenues of $419 million, which topped the Zacks Consensus Estimate of $373 million by 12.3%. The top line also rose 8.6% from the prior-year quarter’s $386 million. 

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This article originally published on Zacks Investment Research (zacks.com).

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