Norway's Elkem Q3 EBITDA falls 14%, misses analyst estimates

Elkem ASA

29/10/2026 06:13

Overview
Norway silicon materials producer's Q3 EBITDA fell 14% yr/yr, missing analyst expectations
Q3 operating income declined 2% yr/yr
Foundry Alloys and Carbon divisions delivered robust results; Silicon division impacted by weak prices

Outlook
Company expects stable fourth-quarter results, with silicon prices rising in Q4
Elkem Foundry Alloys anticipates stable results, with seasonally lower sales in late 2026
Elkem Carbon expects modest improvement in Q4

Result Drivers
DIVISION PERFORMANCE - Foundry Alloys and Carbon divisions delivered robust results due to strong market positions, while Silicon division was impacted by weak sales prices
COST REDUCTION PROGRAMME - Co said ongoing cost reduction programme contributed positively to results
PRICE TRENDS - Modest increase in silicon prices in Q3, with continued rise in Q4, expected to support future results

Company press release: ID:nWkr8QNbJ6

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EBITDA
Miss
NOK 554 mln
NOK 575.40 mln (5 Analysts)
Q3 Operating Income
 
NOK 3.59 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialty chemicals peer group is "buy"
Wall Street's median 12-month price target for Elkem ASA is NOK40.00, about 27.9% above its October 28 closing price of NOK31.28
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 16 three months ago

Reuters Recommended Reads
Oct 28 - Norway's Equinor Q3 adjusted operating income nearly doubles on higher output, gas prices
Oct 28 - Norway's Borregaard Q3 EBITDA hits record, beats analyst estimates
Oct 27 - Sweden's Alfa Laval Q3 sales rise on order intake

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.)