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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.
Nel
Nel (NEL) investor relations material
Nel Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary15 Oct, 2026
Executive summary
Q3 revenue from customer contracts fell 63% YoY to NOK 112m; total revenue and income was NOK 138m, EBITDA was NOK -93m and net loss was NOK 141m.
Order intake was NOK 253m, up 339% YoY; backlog reached NOK 1,314m, up 34% YoY, and quarter-end cash was NOK 1,078m.
Financial highlights
Total revenue and income was NOK 138m versus NOK 349m in Q3 2025; revenue from customer contracts was NOK 112m versus NOK 303m.
EBITDA was NOK -93m versus NOK -37m; EBIT was NOK -143m versus NOK -105m, and net loss was NOK 141m versus NOK 85m.
Operating cash flow was NOK -197m versus NOK -132m; cash and cash equivalents were NOK 1,078m versus NOK 1,757m at Q3 2025-end.
YTD 2026 revenue was NOK 413m, down 35% YoY; operating loss was NOK 499m and net loss was NOK 473m.
Outlook and guidance
Several smaller projects and larger 50–150 MW projects are progressing toward FID over the next quarters; order intake may vary as project sizes increase.
Profitability depends on higher revenue and capacity utilization; fixed costs will continue to weigh on Alkaline results until volumes recover.
Full-scale testing of the next-generation PEM stack is expected to begin in 2027; Collins Aerospace deliveries are scheduled for 2027–2028.
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Latest events from Nel
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Next Nel earnings date
Q4 202619 Feb, 2027
Nel
Next Nel earnings date
Q4 202619 Feb, 2027
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