Salmon farmer SalMar Q2 operational EBIT misses despite record harvest volume, raises FY volume guidance
Salmon farmer SalMar Q2 operational EBIT misses despite record harvest volume, raises FY volume guidance
Overview
Norway salmon producer's Q2 operational EBIT missed analyst expectations despite record-high harvest volume
Company raised 2026 harvest volume guidance by 20,000 tonnes to 350,000 tonnes
SalMar agreed to acquire 70% stake in Måsøval AS for about NOK 3.4 bln
Outlook
SalMar raises 2026 volume guidance by 20,000 tonnes to 350,000 tonnes
Company expects lower cost level in Q3 2026 versus Q2 2026
SalMar sees significantly higher Q3 2026 volumes versus Q3 2025
Result Drivers
RECORD HARVEST VOLUME - Co said strong operational and biological performance in Norway led to record-high harvest volume for Q2
LOWER COSTS - SalMar attributed improved earnings to lower costs throughout the value chain
UNFAVOURABLE HARVEST PROFILE - Co said harvesting most volumes in June negatively impacted price achievement during the period
Company press release: ID:nGNE9Myb7q
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Operational EBIT | Miss | NOK 1.24 bln | NOK 1.45 bln (8 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 6 "hold" and 2 "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 SalMar ASA is NOK618.00, about 16.6% above its August 24 closing price of NOK530.00
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 16 three months ago
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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.)