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Grieg Seafood ASA (GRGSF)
OTHER OTC:GRGSF
Earnings Data
Report Date
May 21, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.07Last Year’s EPS
0.05Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights strong strategic progress and a materially improved balance sheet following the completed transaction (net proceeds ~NOK 9.1bn), a proposed NOK 4bn shareholder distribution, negative net interest-bearing debt (net cash positive ~NOK 2.4–2.5bn), double-digit revenue growth (~10% YoY), solid price achievement (NOK 84.3) and robust operational metrics (high smolt weights, 98% MAB utilization, Q4 operational EBIT NOK 152.8m). Key positives include progress on land-based initiatives, the new Gardermoen processing facility ramp-up, and continued capital discipline. Offsetting these are biological challenges that led to elevated mortality earlier in the period, farming costs above the NOK 60 target (NOK 63.6 per kilo in the quarter; NOK 61.7 for 2025), a working capital drag (changes > NOK 400m) and the temporary reclassification/uncertainty around the hybrid bond. Overall, the balance of material financial and strategic achievements outweighs the operational and timing headwinds.Company Guidance
Transaction Closing and Strong Balance Sheet Impact
Completion of sale of discontinued operations generated net proceeds of around NOK 9.1 billion; proceeds used to repay debt and form a new bank syndicate with Nordea and SEB. Company presented a negative net interest-bearing debt (net cash positive) position of approx. NOK 2.4–2.5 billion at quarter-end. Board proposes NOK 4.0 billion distribution to shareholders.
Revenue and Price Performance
Sales revenue increased ~10% year-over-year, driven by higher achieved sales price (NOK 84.3 per kilo) aided by high harvest weights, 55% contract share and strong spot sales; achieved price trend was upward during the quarter.
Quarter Operational Profitability
Q4 operational EBIT of NOK 152.8 million and group EBIT reported at NOK 142.9 million (approx. NOK 19.4 EBIT per kilo). Farming EBIT of NOK 20.7 per kilo reported for the quarter in Rogaland.
Record and Guidance for Volumes
Rogaland reported all‑time high harvest volume (reported as ~30.5) for the year and Q4 harvest just below 7,400 tonnes. Company guidance for 2026: 31,000 tonnes full-year and 6,600 tonnes for Q1 (slightly skewed toward end of quarter).
Smolt and Biological Improvements
Average smolt weight reached 1.2 kg across freshwater facilities; post-smolt put to sea significantly higher than peers with >50% of smolt now above 1 kg and only 7% below 500 g in 2025. Q4 smolt sizes averaged 900 g (Tytlandsvik) and 1.4 kg (Ardal). MAB utilization reached 98% for the year.
Land-based and Processing Progress
Gardermoen value-added processing facility construction completed in December and production started in January; initial ramp-up indicates high demand for filets. Company guides 8,500 tonnes of raw material for value-added products in 2026 and is pursuing external supply/partner models. Pilot to harvest 500 tonnes of fully grown fish from Ardal planned in 2026.
Capital Discipline and Lower CapEx
Net CapEx isolated at ~NOK 170 million for the period (NOK 140 million related to discontinued operations). Rogaland said to be well-invested with no significant CapEx needs into 2027 besides maintenance. Planned Ardal on-site smolt facility funded via share issue at roughly NOK 45 million (NOK 15 million lower than prior guidance).
Cost Reduction Targets
Management defined additional conservative cost reductions of NOK 50 million for 2026 and targets to average below NOK 3 in overhead cost; long-term farming cost target of NOK 60 per kilo reiterated.
GRGSF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
GRGSF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $7.64 | $7.62 | -0.33% |
Nov 13, 2025 | $6.32 | $6.32 | 0.00% |
Aug 26, 2025 | $6.32 | $6.32 | 0.00% |
May 27, 2025 | $7.45 | $6.87 | -7.85% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Grieg Seafood ASA (GRGSF) report earnings?
Grieg Seafood ASA (GRGSF) is schdueled to report earning on May 21, 2026, Before Open (Confirmed).
What is Grieg Seafood ASA (GRGSF) earnings time?
Grieg Seafood ASA (GRGSF) earnings time is at May 21, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GRGSF EPS forecast?
GRGSF EPS forecast for the fiscal quarter 2026 (Q1) is 0.07.