Seafood producer Mowi Q3 EBIT hits record highs on strong salmon volumes

Mowi ASA

04/11/2026 05:41

Overview
Norway seafood producer's Q3 revenue and EBIT hit record highs on strong volumes, cost control
Harvested salmon volumes rose 12% yr/yr to record 186,000 tonnes in Q3
Company raised 2026 harvest guidance to 620,000 tonnes, up 11% from last year

Outlook
Mowi raises 2026 harvest volume guidance to 620,000 tonnes from 600,000 tonnes
Company expects continued positive market development for its products

Result Drivers
VOLUME GROWTH - Co said record Q3 results were driven by a 12% yr/yr increase in harvested salmon volumes to 186,000 tonnes
COST REDUCTION - Operating costs fell by EUR 51 mln in Q3, supporting margins, per CEO Ivan Vindheim
STRONG CONSUMER PRODUCTS - Consumer Products segment delivered record revenue and volumes, up 18% yr/yr to 84,000 tonnes

Company press release: ID:nGNERyLNP

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
 
EUR 0.33
 
Q3 Basic EPS
 
EUR 0.36
 
Q3 ROCE
 
15.80%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 6 "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 Mowi ASA is NOK243.00, about 11.1% above its November 3 closing price of NOK218.80
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

Reuters Recommended Reads
Nov 3 - SalMar Q3 operational EBIT tops estimates on record volume
Nov 2 - Fish farmer Bakkafrost Q3 operational EBIT rises on FOF segment growth
     

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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.)