Ormat Technologies(US:ORA) ZACKS·2026-02-26 15:56Core Insights - Ormat Technologies Inc. (ORA) reported fourth-quarter 2025 adjusted earnings per share of 67 cents, matching the Zacks Consensus Estimate, but down 6.9% from 72 cents in the same quarter last year [1] - The company generated total revenues of $276 million, exceeding the Zacks Consensus Estimate of $258 million by 7%, and increased 19.6% year over year [2] - For 2025, Ormat's total revenues reached $989.5 million, a 12.5% increase from $879.7 million in 2024 [2] Revenue Breakdown - Electricity segment revenues were $186.6 million, up 3.6% year over year, driven by contributions from the Blue Mountain power plant and improved generation at Dixie Valley [3] - Product segment revenues surged 59.1% to $63.1 million, attributed to the timing of revenue recognition from manufacturing and construction progress [3] - Energy segment revenues amounted to $26.3 million, a significant increase of 140.5% from the prior year, driven by higher merchant pricing and new commercial operations [4] Operational Performance - Total operating expenses were $28.2 million, rising 12.3% year over year, while operating income declined 13.3% to $42.6 million [5] - The total cost of revenues increased by 25.5% year over year to $197.2 million [5] - Net interest expenses rose 1.4% year over year to $35 million [5] Financial Condition - As of December 31, 2025, Ormat had cash and cash equivalents of $147.4 million, up from $94.4 million a year earlier [6] 2026 Guidance - The company expects to generate revenues between $1.11 billion and $1.16 billion for 2026, with the Zacks Consensus Estimate at $1.15 billion [8] - Projected revenues for the Electricity segment are between $715 million and $730 million, while the Product segment is expected to generate $300 million to $320 million [9] - The Energy Storage segment is projected to bring in revenues between $95 million and $110 million, with annual adjusted EBITDA anticipated in the range of $615 million to $645 million [9]