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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.
Lerøy Seafood Group
Lerøy Seafood Group (LSG) investor relations material
Lerøy Seafood Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary10 Nov, 2026
Executive summary
Q3 revenue was NOK 8,468m, down 3% YoY; operational EBIT rose to NOK 459m from NOK 15m, as Farming and Market Operations gains more than offset a Wild Catch loss.
NIBD fell NOK 676m in Q3 to NOK 7,732m, supported by cash generation and working-capital release.
Financial highlights
Operational EBITDA was NOK 948m versus NOK 498m YoY; operational EBIT was NOK 459m versus NOK 15m.
Salmon and trout harvest volume fell 8% to 54,680 GWT; whitefish catch volume declined 24% to 10,216 tonnes.
Reported Q3 profit was NOK 491m versus NOK 472m; EPS before fair-value adjustments was NOK 0.37 versus NOK -0.34.
Operational cash flow was NOK 1,183m versus NOK 1,078m; YTD free cash flow was NOK 2.7bn versus NOK 2.0bn.
Outlook and guidance
Norway harvest guidance is 195,000 GWT for 2026 and 2027; including Scottish Sea Farms’ share, 2026 guidance is 215,000 GWT and 2027 guidance is 217,500 GWT.
2026 regional guidance: Aurora 50,000, Midt 76,000 and Sjøtroll 69,000 GWT; Scottish Sea Farms guidance is 40,000 GWT for 2026 and 45,000 tons for 2027.
Wild Catch 2026 operational EBIT guidance was cut to NOK 315–350m from NOK 400–450m on lower expected fish prices and higher fuel costs.
Market Operations H2 2026 operational EBIT is expected in line with or slightly above H2 2025; 2026 revenue and margin are expected slightly below 2025.
Cost initiatives are progressing and expected to mitigate higher feed costs in 2027; H2 Farming costs are expected below H1.
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Latest events from Lerøy Seafood Group
- Farming recovery and stronger Market Operations lifted Q3 EBIT to NOK 459m as debt fell.LSG
Q3 2026 - Record revenue, weaker Farming earnings and COVID-19 uncertainty shaped the outlook.LSGQ4 2019
- Higher harvest volumes cushioned pandemic-driven price pressure; adjusted EBIT fell to NOK 1,950m.LSGQ4 2020
- Record revenue, steady adjusted EPS, and heavy investment positioned growth against significant operating risks.LSGQ4 2018
- Covid-hit whitefish weighed on Q3 earnings; 2021 harvest growth was targeted.LSGQ3 2020
- Q2 adjusted EBIT rose 81% as downstream and wildcatch gains offset farming price pressure.LSGQ2 2021
- Record Q3 revenue and EBIT, but harvest disruptions constrained farming results.LSGQ3 2021
- Strong seafood prices lifted Q1 earnings, while inflation squeezed downstream margins.LSGQ1 2022
- Record revenue and mixed segment results were offset by a NOK 1.714bn tax hit.LSGQ2 2023
Next Lerøy Seafood Group earnings date
Q4 202619 Feb, 2027
Lerøy Seafood Group
Next Lerøy Seafood Group earnings date
Q4 202619 Feb, 2027
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Frequently asked questions
Lerøy Seafood Group ASA is engaged in producing, processing, marketing, selling and distributing seafood products worldwide. The Company operates through a number of segments: Salmon, Trout, Shellfish and Dressed Fish. Lerøy Seafood also produces meat products for the private label division. In addition to its own brands, Lerøy Seafood Group provides private label products for other companies under contract. The company is based in Bergen, Norway.