Norway's Lerøy Seafood Q2 EBIT falls on lower harvest volumes
Norway's Lerøy Seafood Q2 EBIT falls on lower harvest volumes
Overview
Norway seafood producer's Q2 operational EBIT declined yr/yr due to lower harvest volumes, weaker margins
Company reported strong biological performance and improved cash flow in the quarter
Raised full-yr operational EBIT guidance for Wild Catch segment
Outlook
Leroy maintains 2026 Norway harvest volume guidance at 195,000 GWT
Company raises 2026 Wild Catch operational EBIT guidance to NOK 400-450 mln from NOK 350-400 mln
Company expects global salmon and trout supply growth to slow in H2 2026, with demand rising
Result Drivers
LOWER HARVEST VOLUMES - Co said operational EBIT declined yr/yr due to lower harvest volumes, especially in Farming
COST OPTIMISATION - Co reported declining costs in Farming and progress in its cost programme, supporting cash flow
WILD CATCH IMPROVEMENT - Co raised full-yr EBIT guidance for Wild Catch on higher catch volumes and strong pricing
Company press release: ID:nGNE4Z5dpJ
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Adjusted EBIT |
| NOK 574 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the food processing peer group is "buy."
Wall Street's median 12-month price target for Leroy Seafood Group ASA is NOK47.00, about 13.3% above its August 18 closing price of NOK41.50
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago
Reuters Recommended Reads
Aug 18 - Norway's Mowi Q2 revenue rises on higher harvest volumes
Aug 18 - Norway's Gigante Salmon Q2 hit by by ramp-up issues; warns on harvest volume
Aug 19 - JBS makes new bid for full control, delisting of Pilgrim's Pride
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(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.)