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Elkem ASA (ELKEF)
OTHER OTC:ELKEF
Earnings Data
Report Date
Apr 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.02Last Year’s EPS
-0.03Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a mixed but constructive picture: near-term financials and volumes remain weak with notable YoY declines in revenue, EBITDA and EPS and material trade and safety risks. However, management announced a transformational and well-supported strategic transaction (sale of Silicones to Bluestar), an underwritten NOK 1.5 billion equity raise, improved Q4 operational cash flow, clear actions to reduce capital intensity and targeted >10% top-line growth for 2026 for the remaining business. Cost improvements and favorable EU ferrosilicon pricing also support recovery. The balance of a concrete strategic plan and funding support against current cyclical weakness and execution/refinancing risks yields a cautiously positive outlook.Company Guidance
Strategic divestment of Silicones to Bluestar
Majority of Silicones division sold to China National Bluestar via redemption of Bluestar's 338 million shares; no cash payment. Transaction expected to close end-April/May subject to EGM (9 Mar) and lender approvals. Anticipated benefits: simplifies Elkem into a focused Silicon Products + Carbon Solutions pure-play, reduces capital intensity, and enables targeted capital allocation and M&A.
Underwritten equity and balance sheet actions
Pre-commitments and underwriting from major investors (Folketrygdfondet, Must Invest, DNB Asset Management, Nordea Investment Management, Perestroika) for a NOK 1.5 billion equity raise to follow the transaction; pro forma net interest-bearing debt expected ~NOK 8.3 billion and pro forma leverage ~3.6x EBITDA after the equity raise.
Q4 operational cash generation
Cash flow from operations in Q4 was NOK 829 million, showing improvement vs prior quarters driven by lower CapEx and positive working capital changes.
Solid Q4 headline EBITDA and margins despite weak markets
Group Q4 EBITDA NOK 890 million with an EBITDA margin of 12%. Excluding Silicones, Q4 operating income ~NOK 4.0 billion and EBITDA NOK 485 million (margin ~12%), indicating operational resilience.
Silicones division profitability improvement
Silicones delivered EBITDA of ~NOK 400 million in Q4, up ~6% YoY, primarily driven by cost improvements and higher sales prices in Asia Pacific late in the year.
Cost and efficiency improvements across divisions
Management highlighted ongoing raw material and operational cost reductions that partly offset weak demand and lower sales prices across Silicon Products and Carbon Solutions.
Favorable ferrosilicon price impact from EU safeguard measures
Following EU safeguard measures, ferrosilicon reference prices in the EU were up approximately 20% since implementation, supporting Silicon Products' outlook.
Strong historical performance and clear outlook targets
Since 2020, Elkem delivered a compound annual growth in operating income of ~5% and an EBITDA margin of ~16% (excluding Silicones, operating income CAGR ~6% and EBITDA margin ~21%). Management expects underlying top-line growth >10% in 2026 vs 2025 for the remaining business and lower ongoing annual investments (~NOK 1.0 billion).
ELKEF 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
ELKEF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 13, 2026 | $3.10 | $3.10 | 0.00% |
Oct 23, 2025 | $2.65 | $2.65 | 0.00% |
Jul 15, 2025 | $2.30 | $2.23 | -3.26% |
Apr 30, 2025 | $1.90 | $1.75 | -7.89% |
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 Elkem ASA (ELKEF) report earnings?
Elkem ASA (ELKEF) is schdueled to report earning on Apr 30, 2026, Before Open (Confirmed).
What is Elkem ASA (ELKEF) earnings time?
Elkem ASA (ELKEF) earnings time is at Apr 30, 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 ELKEF EPS forecast?
ELKEF EPS forecast for the fiscal quarter 2026 (Q1) is 0.02.