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Ormat Technologies (ORA) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Ormat Technologies (ORA) reported revenue of $275M for the third quarter 2026 (Q3 2026), +10% from a year earlier and +6% from the quarter before. Operating margin was 16.4%, net earnings $31.9M (11.6% of revenue).
Ormat Technologies, Q3 2026: revenue $275M (+10% year over year), operating margin 16.4%, net earnings $31.9M, operating cash flow $99.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $275M | +6% | +10% |
| Gross profit | $77.4M | +13% | +21% |
| Operating profit | $45.2M | +32% | +12% |
| Net earnings | $31.9M | +18% | +32% |
| Operating cash flow | $99.7M | +97% | +121% |
What changed
Revenue was $275.1M in Q3 2026, up 10% year over year and up 6% from the previous quarter. Electricity was the largest line at 59% of revenue. Energy Storage added $29.6M year over year (up 145%), 116% of the total change. Electricity declined 2%.
Gross margin was 28.1%, up 2.5 points from Q3 2025. Operating profit was $45.2M, a 16.4% margin (up 0.3 points year over year). Of the extra revenue versus Q3 2025, 19% reached operating profit, above the 16% margin then. Operating expenses grew 36% against revenue growth of 10%. Net earnings were $31.9M, up 32% year over year ($29.8M including minority interests, which bore $2.1M of losses). The effective tax rate was -29.4%.
Operating cash flow was $99.7M (up 121% year over year), 334% of net income including minority interests. Non-cash charges added back $82.5M of depreciation and amortization and $5.5M of share-based compensation. Working capital and other items used $18.1M. Capital expenditures of $172.7M exceeded it, leaving free cash flow of −$72.9M.
Questions
What was Ormat Technologies' revenue in the third quarter 2026?
Ormat Technologies (ORA) reported revenue of $275M for the third quarter 2026 (Q3 2026), +10% from a year earlier and +6% from the quarter before.
Was Ormat Technologies profitable in the third quarter 2026?
Operating profit was $45.2M (16.4% of revenue) and net earnings $31.9M.
Source: Ormat Technologies 10-Q on SEC EDGAR.