Ormat Q4 revenue up 19.6% to $276M; FY revenue $989.6M (+12.5%); Adjusted EBITDA $582M; 2026 guidance raised

ORMAT TECHNOLOGIES, INC.

2025-FY EPS reported $2.02 revenue$989,543,000

Q4 GAAP EPS $0.50 vs $0.67 prior year; adjusted EPS $0.67 vs $0.72.
Energy Storage revenue surged 140.5% in Q4 and 109.3% for FY, driven by PJM pricing and new facilities.
Signed 15-year PPA with Google for up to 150MW and 20-year PPA with Switch for ~13MW.
2026 guidance: total revenue $1,110-1,160M; Adjusted EBITDA $615-645M.
Board declared quarterly dividend of $0.12/share payable March 24, 2026.

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