Norway's Aker Solutions Q2 EBITDA beats estimates on project milestones

Aker Solutions ASA

14/07/2026 06:09

Overview
Norway energy solutions provider's Q2 revenue missed analyst expectations, EBITDA beat estimates
Company distributed NOK 4.2 bln in dividends during the quarter
Full-year 2026 revenue now seen at NOK 50-55 bln, EBITDA margin target around 7.5%

Outlook
Aker Solutions sees 2026 revenue between NOK 50 bln and NOK 55 bln
Company expects 2026 EBITDA margin of around 7.5% excluding net profit from SLB OneSubsea
Aker Solutions expects SLB OneSubsea distributions to increase in 2H 2026, supporting full-year distribution broadly in line with 2025

Result Drivers
PROJECT MILESTONES - Co said it met several important milestones across its project portfolio, including Hugin B topside load-out and CCS project construction start
ORDER INTAKE - Q2 order intake driven by HVDC substructure award, Tussa II hydropower equipment supply, and long-term frame agreement with Cenovus Energy
IMPROVEMENT INITIATIVES - Co highlighted ongoing improvement initiatives with customers to increase value and strengthen competitiveness, per CEO Kjetel Digre

Company press release: ID:nWkrblKNC7

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
NOK 13.10 bln
NOK 13.60 bln (4 Analysts)
Q2 EPS
 
NOK 1.37
 
Q2 EBITDA
Beat
NOK 1.20 bln
NOK 1.18 bln (4 Analysts)
Q2 EBITDA Margin
 
9.20%
 
Q2 Order Backlog
 
NOK 77.20 bln
 
Q2 Orders
 
NOK 9.90 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 7 "hold" and 3 "sell" or "strong sell"
The average consensus recommendation for the oil related services and equipment peer group is "buy."
Wall Street's median 12-month price target for Aker Solutions ASA is NOK38.50, about 15.9% below its July 13 closing price of NOK45.80
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)