Ormat's Revenue Surges on Electricity Storage Growth
Translated & summarized from TheMarker by baba
Geothermal energy firm Ormat saw its revenue climb to $275 million in Q3 2026, a 10% increase driven by its energy storage division. The storage sector's revenue jumped 145% to $50 million, while geothermal electricity generation revenue fell 2% to $164 million. Ormat has also updated its 2026 financial forecast upwards.
The story in 4 lines · by baba
- Ormat's Q3 2026 revenue rose 10% to $275 million.
- Energy storage revenue surged 145% to $50 million.
- Geothermal electricity generation revenue declined 2% to $164 million.
- The company raised its 2026 financial forecast.
Geothermal energy company Ormat reported a roughly 10% increase in revenue for the third quarter of 2026, reaching $275 million. The primary driver of this growth was the company's energy storage sector, which generated approximately $50 million in revenue, a 145% surge compared to the same period last year. In contrast, Ormat's geothermal electricity generation segment saw a 2% decline, bringing in about $164 million. The company has also raised its mid-range forecast for 2026.
