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Norsk Hydro (DE:NOHA)
OTHER OTC:NOHA
Earnings Data
Report Date
Apr 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.14Last Year’s EPS
0.13Same Quarter Last Year
Moderate Sell
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presents a mixed picture: operational strengths and solid cash generation (adjusted EBITDA, free cash flow, RoaCE above target, upstream production above nameplate, strong energy production and strategic power contracts) and clear strategic progress (Illvatn investment, hedging, cost reductions, dividend proposal). These positives are, however, tempered by significant near-term headwinds—lower revenues (-14% YoY), large adjusting items that produced a reported loss, sharp YoY deterioration in Bauxite & Alumina EBITDA, continued weakness in Extrusions and Metal Markets, and notable FX/derivative losses. The company delivered resilient adjusted performance and improved full-year EBITDA, but the pronounced segment-level pressures and accounting adjustments create a balanced risk/return outlook in the near term.Company Guidance
Strong Adjusted EBITDA and Cash Generation
Adjusted EBITDA of ~NOK 5.6 billion in Q4 and full-year adjusted EBITDA up NOK 2.6 billion (from NOK 26.3bn to NOK 28.9bn, +9.9% year-over-year). Free cash flow of NOK 4.6 billion in Q4 and net debt decreased by NOK 3.9 billion since Q3.
Return on Capital and Dividend Proposal
Adjusted RoaCE for the year of 10.2%, above the 10% target. Board proposed ordinary dividend of NOK 3 per share (NOK 5.9 billion), representing 60% of adjusted net income and a year-end yield of ~3.8%.
Upstream Operational Outperformance
Alumina production above nameplate capacity in Q4; primary aluminum (smelter) production up ~2.5% year-over-year in Q4. Bauxite & Alumina delivered its second-best EBITDA ever for 2025.
Energy Production and Long-Term Power Contracts
Power production increased ~13.6% year-over-year in Energy. Signed two long-term power purchase agreements covering 5.25 TWh (period 2031–2040) in price area NO3, and final investment decision on Illvatn pumped storage (gross NOK 2.5 billion, net ~NOK 1.2 billion).
Cost Savings and Restructuring Progress
Strategic workforce reduction completed with ~850 white-collar FTEs leaving or to leave, expected annual savings of ~NOK 1 billion from 2026. Confirmed closure of two Extrusion plants (Bedwas, Cheltenham) with ongoing processes for three more.
Hedging and Bookings for Q1 2026
Aluminum Metal has booked ~70% of primary production for Q1 at USD 2,803/t and 40% of premiums at USD 478/t; expected realized premium range USD 380–430/t, providing price coverage for Q1.
Upstream Volume and Trading Contributions
Upstream volumes and commercial alumina trading contributed positively to Q4 results (B&A commercial/trading contribution ~NOK 300 million in Q4). Lower raw material costs also supported results.
Full-Year Positive Drivers
Full-year drivers included higher aluminum prices, upstream volume growth, raw material cost improvements (net +NOK 500m), and higher energy prices/production (+NOK 800m).
DE:NOHA 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
DE:NOHA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 13, 2026 | €8.00 | €7.75 | -3.13% |
Oct 24, 2025 | €5.85 | €5.85 | 0.00% |
Jul 22, 2025 | €5.00 | €5.10 | +2.00% |
Apr 29, 2025 | €4.53 | €4.51 | -0.42% |
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 Norsk Hydro (DE:NOHA) report earnings?
Norsk Hydro (DE:NOHA) is schdueled to report earning on Apr 29, 2026, Before Open (Confirmed).
What is Norsk Hydro (DE:NOHA) earnings time?
Norsk Hydro (DE:NOHA) earnings time is at Apr 29, 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 the P/E ratio of Norsk Hydro stock?
The P/E ratio of Norsk Hydro is N/A.
What is DE:NOHA EPS forecast?
DE:NOHA EPS forecast for the fiscal quarter 2026 (Q1) is 0.14.