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Austevoll Seafood Q3 revenue falls on early closure of Peru's fishing season due to warm seawater

By Reuters News


Overview

  • Norway seafood producer's Q3 revenue fell yr/yr, but adjusted EBITDA and EBIT rose sharply

  • Earnings growth driven by lower costs and improved price realisation in farming segment

  • Peru fishing suspension hurt results, offset by FoodCorp's record Q3 and higher associate income


Outlook

  • Company did not provide specific guidance for future quarters or the full year in its press release


Result Drivers

  • PERU FISHING SUSPENSION - Revenue and earnings at Austral were significantly impacted by the suspension and early closure of Peru's first fishing season due to warm seawater and high juvenile fish levels

  • FOODCORP ACTIVITY - FoodCorp posted its best third quarter to date, with catch volume more than doubling from last year and high prices on all finished products

  • HIGHER ASSOCIATE INCOME - Income from associates rose, mainly due to improved earnings in Pelagia and a positive fair value adjustment of biomass in Scottish Sea Farms


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted EBITDA

NOK 1.13 bln

Q3 Adjusted EBIT

NOK 546 mln

Q3 EBIT

NOK 876 mln

Q3 Pretax Profit

NOK 677 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "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 Austevoll Seafood ASA is NOK97.50, about 17.6% above its November 9 closing price of NOK82.90

  • The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago


Reuters Recommended Reads

  • Nov 10 - Norway's Leroy Seafood Q3 operational EBIT jumps on lower farming costs, cuts 2026 forecast

  • Nov 9 - Norway reins in data centre industry amid AI boom


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.)

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