Norway's Elkem beats Q2 EBITDA estimates

Elkem ASA

10/07/2026 06:10

Overview
Norway silicon materials provider's Q2 EBITDA fell 19% yr/yr but beat analyst expectations
Q2 operating income declined 4% yr/yr to NOK 3.7 bln
Company completed NOK 1.8 bln equity raise and refinanced main bank facilities

Outlook
Elkem expects seasonally lower activity to impact Silicon Products in third quarter
Company expects generally stable financial performance for Carbon Solutions in third quarter
Elkem's cost reduction programme will continue to contribute positively from third quarter onwards

Result Drivers
LOWER SILICON PRICES - Co said lower sales prices for silicon and ferrosilicon were the main reason for the yr/yr decline in results
COST REDUCTION MEASURES - Organisational streamlining and cost cuts were completed and exceeded targets, with annual savings expected to surpass NOK 600 mln
CARBON SOLUTIONS WEAKNESS - Lower sales volume and average sales prices drove down Carbon Solutions EBITDA

Company press release: ID:nWkr3y6NBY

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EBITDA
Beat
NOK 523 mln
NOK 377 mln (4 Analysts)
Q2 Operating Income
 
NOK 3.71 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for Elkem ASA is NOK35.00, about 16.8% above its July 9 closing price of NOK29.96
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 22 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.)