Norway's Leroy Seafood Q1 EBIT falls on lower salmon and trout prices

Leroy Seafood ASA

12/05/2026 05:39

Overview

Norway seafood producer's Q1 revenue rose 4.7% yr/yr, but operational EBIT declined

Lower salmon and trout prices weighed on farming segment earnings despite strong biological performance

Wild Catch EBIT improved significantly due to higher prices and operational gains despite lower quotas

Outlook

Lerøy maintains 2026 Norway harvest guidance at 195,000 tonnes

Company expects total 2026 volume, including Scottish Sea Farms share, at 217,000 tonnes

Company raises 2026 operational EBIT outlook for Wild Catch to NOK 350-400 mln

Result Drivers

LOWER SALMON AND TROUT PRICES - Co said lower prices in farming segment offset strong biological performance and led to lower earnings

MARGIN PRESSURE - Co cited significant changes in currencies and freight costs as temporarily affecting gross margins in some units

HIGHER PRICES AND OPERATIONAL IMPROVEMENTS IN WILD CATCH - Co said Wild Catch EBIT improved due to higher prices and operational gains despite lower quotas

Company press release: ID:nGNEn2JG

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
NOK 7.87 bln
Q1 Adjusted EBIT
NOK 858 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 NOK52.00, about 19.9% above its May 11 closing price of NOK43.38

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 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.)