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Sep 30
Ormat Q3 2025 Earnings Report
Ormat Technologies, Inc. reported strong third quarter 2025 results driven by strategic portfolio expansion and robust performance in its Product and Energy Storage segments.
Key Takeaways
Ormat Technologies delivered a strong third quarter, with revenue increasing by 17.9% to $225.9 million, operating income up 13.3% to $59.8 million, and net income attributable to stockholders growing by 9.3% to $34.1 million. The Energy Storage and Product segments were key drivers, showing significant revenue growth of 108.1% and 66.6% respectively, alongside margin improvements. The Electricity segment also benefited from portfolio expansion, offsetting some negative impacts from storm-related grid failures and lower energy rates in Hawaii.
Total revenue increased by 17.9% to $225.9 million, demonstrating strong overall growth.
The Energy Storage segment's revenue surged by 108.1%, benefiting from new facilities coming online.
Product segment revenue grew by 66.6%, supported by a new contract that boosted the backlog to $295 million.
Net income attributable to the Company’s stockholders rose by 9.3% to $34.1 million, reflecting improved profitability.
Ormat
Ormat
Ormat Revenue by Segment
Revenue by Segment
Electricity Revenue
CapyFin.comProduct Revenue
CapyFin.comEnergy Storage Revenue
CapyFin.com Forward Guidance
Ormat expects continued strong momentum, driven by strategic partnerships, portfolio expansion, and increasing demand for renewable energy, particularly from data centers. The company anticipates finalizing new Power Purchase Agreements (PPAs) and remains confident in achieving its long-term growth and earnings targets.
Positive Outlook
- Anticipated finalization of new Power Purchase Agreements (PPAs).
- Strong momentum across the business fueled by recent strategic partnerships.
- Portfolio expansion contributing to future growth.
- Increasing demand for renewable energy, especially from data centers.
- Favorable regulatory developments from the OBBBA.
Challenges Ahead
- No specific negative forward guidance points were explicitly mentioned in the provided text.
- The company does not provide guidance on net income due to high variability and complexity in estimating certain forward-looking amounts.
- Potential for variability in impairments, disposition and acquisition of business interests.
- Uncertainty regarding future income tax expense.
- Complexity in estimating other non-cash expenses and adjusting items.
Revenue & Expenses
Visualization of income flow from segment revenue to net income