Kongsberg Gruppen Q3 revenue beats estimates on defence demand

Kongsberg Gruppen ASA

29/10/2026 10:29

Overview
Norway defence technology firm's Q3 revenue rose 50% yr/yr, beating analyst expectations
Company cites strong demand for missiles, air defence and remote weapon stations
Order backlog reached record NOK 174.2 bln in Q3

Outlook
Company says strong order backlog provides foundation for continued growth
Kongsberg sees continued strong demand across its defence and technology portfolio
Company says record-high order backlog gives visibility for future development

Result Drivers
DEFENCE DEMAND - Co said strong demand for missiles, air defence systems and remote weapon stations drove Q3 results
CAPACITY EXPANSION - Co said expansion of production capacity, including in Poland, supported ability to meet higher demand
UNDERWATER TECH - Co said contracts and acquisitions in underwater technology expanded portfolio and U.S. market presence

Company press release: ID:nObiN8myta

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
NOK 11.30 bln
NOK 10.46 bln (8 Analysts)
Q3 Orders
 
NOK 23.30 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the aerospace & defense peer group is "buy"
Wall Street's median 12-month price target for Kongsberg Gruppen ASA is NOK400.00, about 28.2% above its October 28 closing price of NOK312.10
The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 36 three months ago

Reuters Recommended Reads
Oct 29 - Kongsberg Q3 orders jump on strong missile, air defence demand
Oct 28 - Aselsan order backlog jumps to $30.7 bln as air defence demand surges
Oct 29 - Rheinmetall wins option order for 69 more Schakal combat vehicles

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.)