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Ormat Technologies, Inc. reported higher 2026 results with more complex financing and project activity. For the quarter ended June 30, 2026, revenues were $258.8 million versus $234.0 million a year earlier, with electricity, product and energy storage all contributing. Six‑month revenues rose to $662.7 million from $463.8 million. Gross profit for the quarter increased to $68.7 million, while operating income was $34.2 million compared with $35.3 million. Net income attributable to stockholders was $27.1 million (diluted EPS $0.43) versus $28.0 million (diluted EPS $0.46).
For the first half of 2026, net income attributable to stockholders was $71.2 million (diluted EPS $1.14) versus $68.4 million ($1.12). Results reflect higher interest expense of $88.9 million, an $8.4 million impairment mainly for the Pomona 1 storage facility, and $8.7 million of unsuccessful exploration and storage write‑offs, partly offset by $33.2 million of income attributable to sale of tax benefits.
Total assets reached $6.79 billion, with cash and restricted cash of $658.1 million. Operating cash flow was $129.2 million, funding capital expenditures of $251.8 million and the $79.3 million Hoku solar‑plus‑storage acquisition, which generated a $9.6 million bargain purchase gain. The company issued $1.0 billion of 2031 convertible notes, repurchased $285.9 million principal of 2027 notes and bought back $24.4 million of common stock, while managing customer concentration with overdue balances from KPLC and ENEE that it expects to collect.
Ormat Technologies reported solid results for the quarter and six months ended June 30, 2026, with continued progress on its diversified growth strategy. Q2 2026 total revenues were $258.8 million, up 10.6% year over year, and gross profit rose to $68.7 million, a 20.8% increase. For the first half, revenues reached $662.7 million, up 42.9%, and gross profit was $189.1 million, up 45.6%.
Segment performance was mixed but growth-oriented: Electricity revenues grew to $169.3 million in Q2, Energy Storage revenues surged to $42.8 million (up 195.1%), while Product revenues declined to $46.7 million (down 21.6%). Q2 operating income was $34.2 million, and net income attributable to stockholders was $27.1 million, with diluted EPS of $0.43. Adjusted net income was $31.0 million and Adjusted EBITDA $143.9 million, both higher than a year earlier.
Management highlighted expansion of the generation portfolio by 155 MW since the start of 2026 and a robust project pipeline, including 202 MW of electricity generation and 497 MW / 1,888 MWh of energy storage under construction and development, as well as meaningful progress in Enhanced Geothermal Systems (EGS) pilots. Full-year 2026 revenue and Adjusted EBITDA guidance were raised. The board declared a quarterly dividend of $0.12 per share, payable September 2, 2026, to shareholders of record on August 19, 2026.
Vanguard Portfolio Management LLC reported beneficial ownership of Ormat Technologies Inc common stock on a Schedule 13G. Vanguard and certain affiliated entities beneficially own 3,089,619 shares, representing 5.02% of the outstanding common stock. Vanguard has sole voting power over 28,845 shares and sole dispositive power over 3,089,619 shares, with no shared voting or dispositive power.
The holdings include securities held by Vanguard funds and client accounts over which Vanguard or specified affiliates exercise voting and/or dispositive power. Vanguard notes that other subsidiaries or business units whose ownership is disaggregated are not included. No other single person has an interest in more than 5% of this class of securities through these holdings.
BlackRock, Inc. reports beneficial ownership of common stock of Ormat Technologies, Inc. on an amended Schedule 13G. BlackRock reports beneficial ownership of 7,710,547 shares, representing 12.5% of Ormat’s common stock. It has sole voting power over 7,545,995 shares and sole dispositive power over 7,710,547 shares, with no shared voting or dispositive power. Various underlying clients have economic interests in these shares, but no single client holds more than five percent of Ormat’s outstanding common shares. The filing is signed by a BlackRock managing director.
Harel Insurance Investments & Financial Services Ltd. reports beneficial ownership of 4,367,852 shares of Ormat Technologies, Inc. common stock on a Schedule 13G/A, representing 7.1% of the outstanding class. The percentage is based on 61,451,752 Ormat shares outstanding as of May 1, 2026.
Of the reported shares, 4,315,944 are held for members of the public through various funds and policies managed by Harel subsidiaries, while 51,908 shares are held for Harel’s own account. Harel reports 0 sole voting and dispositive power and 4,367,852 shared voting and shared dispositive power, reflecting decisions made by independently managed subsidiaries.
Migdal Insurance & Financial Holdings Ltd., an Israeli company, filed an Amendment No. 1 to a Schedule 13G reporting its beneficial ownership in Ormat Technologies, Inc. common stock. Migdal and its majority- or wholly-owned subsidiaries report beneficial ownership of 3,681,980.51 Ormat ordinary shares, representing 5.99% of the class, based on 61,451,752 ordinary shares outstanding as of July 8, 2026. These shares are held through investment vehicles including Migdal Sal Domestic Equities and Migdal Mutual Funds Ltd., with 3,681,980.51 shares subject to shared voting and shared dispositive power and no sole voting or dispositive power. The filing explains that the securities are largely held for the benefit of insurance policyholders, pension and provident fund members, portfolio clients, and mutual fund unit holders, and that Migdal and its subsidiaries disclaim beneficial ownership beyond their actual pecuniary interest and reject any admission that they form a group for Section 13(d) purposes.
Ormat Technologies executive Willis Aron John reported routine equity compensation activity. On June 30, 2026, 1,812 restricted stock units vested, converting into the same number of Ormat common shares as part of a three-year vesting schedule. Each RSU delivers one share upon vesting.
On July 1, 2026, 451 of these common shares were sold in open-market transactions at an average price of $106.64 per share to satisfy the reporting person’s tax withholding obligations related to the vesting. Following these transactions, he directly holds 1,361 shares of Ormat common stock.
Angel Isaac reported acquisition or exercise transactions in this Form 4 filing.
ORMAT TECHNOLOGIES, INC. reported that director Angel Isaac received a grant of 1,245 Restricted Stock Units (RSUs) on June 2, 2026. Each RSU represents the right to receive one share of Ormat common stock when it vests.
The entire RSU grant is scheduled to vest 100% on June 2, 2027, the one-year anniversary of the grant date. Following this grant, Isaac holds 1,245 RSUs directly. This is a compensation-related equity award, not an open‑market share purchase or sale.
STERN STANLEY reported acquisition or exercise transactions in this Form 4 filing.
ORMAT TECHNOLOGIES, INC. director Stanley Stern reported a compensation-related grant of 899 Restricted Stock Units (RSUs). Each RSU represents the right to receive one share of Ormat common stock upon vesting, so this award aligns his incentives with shareholders through future equity.
The RSU grant was made on June 2, 2026 and will vest 100% on June 2, 2027, the one-year anniversary of the grant date. Following this transaction, Stern’s reported derivative holdings from this grant total 899 RSUs, with no open‑market purchases or sales disclosed in this filing.
Wong Byron G. reported acquisition or exercise transactions in this Form 4 filing.
Ormat Technologies director Byron G. Wong reported an equity award of 899 restricted stock units (RSUs). These RSUs were granted as compensation and carry no purchase price. Each RSU represents the right to receive one share of Ormat common stock upon vesting.
The filing states that this block of 899 RSUs will vest 100% on June 2, 2027, the one-year anniversary of the grant date. Following this grant, Wong holds 899 RSUs directly, highlighting a modest, routine alignment of his compensation with future company performance.