ORMAT TECHNOLOGIES, INC. SEC 10-Q Report

Ormat Technologies, Inc., a leading provider of geothermal and renewable energy solutions, has released its Form 10-Q report for the second quarter of 2025. The report highlights the company's financial performance and operational achievements, showcasing growth in key segments and strategic expansions.

Financial Highlights

• Total Revenues: $463.8 million, reflecting an increase from $437.1 million in the same period last year, driven by growth in the Product and Energy Storage segments.
• Gross Profit: $129.8 million, a decrease from $140.2 million in the prior year, primarily due to increased costs in the Electricity segment.
• Operating Income: $86.2 million, slightly down from $87.7 million, with cost management efforts partially offsetting the decline in gross profit.
• Net Income: $69.2 million, up from $64.3 million, benefiting from favorable tax provisions and gains from derivatives.
• Diluted EPS: $1.12, compared to $1.00 in the previous year, reflecting improved net income attributable to the Company's stockholders.

Business Highlights

• Revenue Segments: The Electricity segment generated revenues from both the United States and foreign markets, with the U.S. contributing $111.4 million and foreign markets contributing $48.5 million for the three months ended June 30, 2025. The Product segment saw significant growth, particularly in foreign markets, with revenues of $56.1 million compared to $3.5 million from the U.S. The Energy Storage segment, focused on the U.S., generated $14.5 million in revenue.
• Geographical Performance: The company experienced a diverse geographical performance with the U.S. market being a major contributor to the Electricity and Energy Storage segments. Foreign markets, particularly in the Product segment, showed strong performance, indicating a robust demand for geothermal and energy solutions outside the U.S.
• Sales Units: The company reported significant expenditures for long-lived assets, with $134.8 million invested in the three months ended June 30, 2025, indicating an expansion in production capabilities and infrastructure.
• New Production Launches: The acquisition of the Blue Mountain geothermal power plant in Nevada expanded the company's generation capacity by 20MW, enhancing its operational footprint and potential profitability through cost reductions and synergies.
• Future Outlook: Management anticipates continued growth in the Energy Storage segment, driven by advancements in battery technology and increased demand for grid-connected solutions. The company is also focused on expanding its geothermal capacity, as evidenced by the recent acquisition and ongoing development projects.

SEC Filing: ORMAT TECHNOLOGIES, INC. [ ORA ] - 10-Q - Aug. 07, 2025