Norway's NORBIT Q2 revenue rises 22%, slightly beats estimates
Norway's NORBIT Q2 revenue rises 22%, slightly beats estimates
Overview
Norway technology provider's Q2 revenue rose 22%, slightly beating analyst expectations
Diluted EPS for Q2 increased to NOK 2.45 from NOK 2.06 a year earlier
Company expects 2026 revenue of NOK 2.9–3.1 bln and EBIT margin of 20–23%
Outlook
NORBIT expects 2026 revenue of NOK 2.9–3.1 bln, excluding Water Linked acquisition
Company targets 2026 EBIT margin of 20–23%, excluding Water Linked acquisition
NORBIT aims for 2030 revenue of NOK 6.0 bln and EBIT margin of 20–25%
Result Drivers
CONNECTIVITY SEGMENT GROWTH - Co reported 47% revenue increase in Connectivity segment, supporting overall group performance
PIR SEGMENT GROWTH - Product Innovation & Realization segment revenue rose 25%, contributing to group results
DIVERSIFIED BUSINESS MODEL - CEO attributed record revenues and profitability to continued growth in Connectivity and PIR, combined with solid profitability in Oceans
Company press release: ID:nGNEffQ5D
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Slight Beat* | NOK 831.60 mln | NOK 828.60 mln (4 Analysts) |
Q2 EPS |
| NOK 2.45 |
|
Q2 EBIT |
| NOK 205.20 mln |
|
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electronic equipment & parts peer group is "buy"
Wall Street's median 12-month price target for Norbit ASA is NOK220.00, about 20% above its August 12 closing price of NOK183.40
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 25 three months ago
Reuters Recommended Reads
Aug 13 - Norway's AutoStore Q2 revenue beats estimates on strong order intake
Aug 11 - Ceragon Q2 revenue beats estimates on India demand
Aug 12 - Cisco Q4 revenue beats on networking product demand
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.)