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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Endúr
Endúr (ENDUR) investor relations material
Endúr Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary12 Nov, 2026
Executive summary
Q3 revenue was NOK 1,996.5m, up 8% YoY; EBITA reached a quarterly record NOK 170.2m, up 29%, with a record 8.5% margin, up 1.3 pp.
Backlog was NOK 7,725m, down 13% YoY; Q3 order intake of NOK 820m produced 0.6x book-to-bill.
Core infrastructure segments delivered ~15% combined revenue growth and 31% EBITA growth, led by Rehabilitation & Intersections.
Strong tender activity, attractive infrastructure markets and remaining-2026 backlog coverage supported the outlook; planned M&A continued.
Financial highlights
Q3 revenue was NOK 1,996.5m versus NOK 1,841.6m; EBITDA NOK 248.4m versus NOK 200.6m; EBITA NOK 170.2m versus NOK 132.0m.
Q3 EBIT was NOK 142.3m versus NOK 109.7m; net income was NOK 96.4m versus NOK 64.5m, and basic EPS was NOK 1.84 versus NOK 1.27.
YTD revenue was NOK 5,780.1m, EBITA NOK 385.7m and EBIT NOK 305.4m; profit for the period was NOK 194.9m versus NOK 95.4m.
YTD EBITA margin was 6.7%; pro forma YTD 2025 EBITA was NOK 292.0m at a 5.8% margin.
Q3 operating cash flow was NOK 207.4m despite NOK 62.7m of tax payments; YTD operating cash flow was NOK 170.1m.
Outlook and guidance
Backlog coverage included NOK 1.84bn scheduled for the rest of 2026 and NOK 3.61bn for 2027; 2027 coverage rose ~NOK 330m QoQ.
High tender activity and numerous outstanding bids; larger projects are being pursued for commencement next year to improve 2027 production visibility.
Seasonal working-capital release is expected around year-end; recurring and framework-based revenues also support visibility beyond reported backlog.
Land-based aquaculture projects support near-term activity, while medium-term coverage and engineering utilization remain focus areas; Salfjord awaits a final investment decision.
Services and workforce investment, targeted M&A and a data-center initiative are intended to support growth and broaden infrastructure exposure.
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Latest events from Endúr
- Revenue and EBITA reached record highs, supported by strong order intake and acquisitions.ENDUR
Q2 2026 - Revenue and EBITA surged, with a strong backlog and M&A supporting future growth.ENDURQ1 2026
- Record Q4 revenue, EBITA, and strong growth in core segments with solid 2026 backlog.ENDURQ4 2025
- Record EBITA and revenue, robust order backlog, and strong growth outlook.ENDURQ3 2025
- Record revenue and EBITA growth, robust backlog, and strong liquidity support future expansion.ENDURQ2 2025
- Q3 2024 revenue surged up to 76% YoY, led by Marine Infrastructure and strong order intake.ENDURQ3 2024
- Record backlog and margin gains signal strong growth and positive outlook.ENDURQ2 2024
- Q1 2025 saw strong growth, record backlog, and a new dividend policy proposal.ENDURQ1 2025
- Record results, margin gains, and strong backlog drive a positive outlook for 2025.ENDURQ4 2024
Next Endúr earnings date
Q4 202625 Feb, 2027
Endúr
Next Endúr earnings date
Q4 202625 Feb, 2027
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Frequently asked questions
Endúr ASA is a Norwegian company that provides construction, maintenance, and services for marine infrastructure and aquaculture industries. It operates in three main segments: Marine Infrastructure, which includes the construction of quays, harbors, bridges, and other specialized projects; Aquaculture Solutions, which focuses on facilities and concrete barges for land-based aquaculture; and Maritime Services, providing ship maintenance and repair. The company also supports energy and defense sectors through installation, modification, and fabrication projects for onshore and offshore oil and gas installations. Endúr ASA is headquartered in Lysaker, Norway, and its shares are listed on the Oslo Stock Exchange.