Norway's NORBIT Q3 revenue beats estimates; declares additional dividend 

Overview

• Norway technology solutions provider's Q3 revenue rose 34% yr/yr, beating analyst expectations

• Diluted EPS for Q3 rose to NOK 1.12 from NOK 0.81 a year earlier

• Company completed Water Linked acquisition and declared additional dividend for 2025

Outlook

• NORBIT expects 2026 full-year revenue of NOK 3.0-3.1 bln

• Company sees 2026 full-year EBIT margin of 21-22%, including Water Linked acquisition impact

• NORBIT says Q4 outlook is solid with strong momentum across the group

Result Drivers

• SEGMENT GROWTH - All three segments—Oceans, Connectivity, and PIR—reported double-digit revenue growth in Q3, according to the company

• DIVERSIFIED MODEL - Co attributed results to its diversified business model and increasing scale, per CEO Per Jørgen Weisethaunet

Company press release:

Key Details

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 NOK225.00, about 37.4% above its November 11 closing price of NOK163.70

• The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 19 three months ago

Reuters Recommended Reads

• Nov 10 - China's Hesai Q3 revenue rises 34% as lidar shipments grow

• Nov 10 - Norway's Arendals Fossekompani Q3 revenue rises 5% on high power prices

• Nov 10 - Germany's Infineon Q4 revenue rises sequentially

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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.)