Shares of Bakkafrost P/F fell 7.6% on Monday, dropping to 460.4 Norwegian kroner after the Faroe Islands-based salmon producer reported second-quarter results that missed analyst expectations across key metrics.
The company posted an operational EBIT of DKK 273 million for Q2 2026, approximately 35% below the DKK 421 million consensus estimate. Revenue totaled DKK 1.8 billion, more than 10% below projections, while net income turned negative at DKK -161 million, primarily due to DKK 406 million in negative fair-value adjustments. Earnings per share were DKK 2.31, nearly 39% below the DKK 3.80 consensus.
The weaker-than-expected performance was driven by challenges in Bakkafrost's Scottish aquaculture operations, which faced biological issues and reduced harvest volumes. The Faroe Islands division, by contrast, achieved a record quarterly harvest, but this was insufficient to offset the shortfall from Scotland. The stock hit a session low of 457.2 NOK, well below its 52-week high of 526 NOK, as the broader Oslo market had been trending upward in the preceding month.
European equities ended largely flat, with the STOXX 600 index holding near 655 points. Geopolitical tensions in the Strait of Hormuz, where U.S.-Iran military clashes have driven up oil prices and supported energy sector gains, had no material impact on the aquaculture sector.
