Norsk Hydro rises on Q2 beat, higher prices offset Qatar hit

Norsk Hydro ASA

22/07/2026 08:51

** Shares in Norsk Hydro NHY.OL rise 3% after the Norwegian aluminium producer posts its Q2 print above expectations, noting higher aluminium prices and strong recycling margins
** Its adjusted EBITDA rose 15% to 8.92 billion Norwegian crowns ($927.0 million) in the April-June quarter, beating analysts' 8.22 billion crowns forecast
** For Q3, Hydro sees broadly neutral upstream costs, stable-to-stronger recycling margins and higher Extrusions sales, while it keeps 2026 capex at 13.5 billion crowns
** Analysts from J.P.Morgan say the better-than-expected outlook and earnings beat could lift 2026 consensus EBITDA by a mid-single-digit percentage
** "Q3 guidance was better than expected: upstream costs broadly neutral, the downstream divisions cited either stable or stronger margins from recycling and higher sales in Extrusions," the broker adds
** The co said the results outweighed weaker energy output, adverse currency effects and reduced output due to the Middle East disruptions at the company's joint venture in Qatar
** Including today's rise the stock has gained 10.28% YTD



($1 = 9.6220 Norwegian crowns)

 (Reporting by Jesus Calero)
 ((jesus.calero@thomsonreuters.com))