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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.
NRC Group
NRC Group (NRC) investor relations material
NRC Group Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary13 Aug, 2026
Executive summary
Achieved improved underlying profitability and strong operating cash flow across Norway, Sweden, Finland, and Machines, despite a NOK 71 million one-off legal charge in Sweden related to a 2018 project dispute.
Prioritized profitability over short-term volume, focusing on disciplined project selection and operational excellence.
Operating cash flow reached NOK 180 million, reflecting stronger project execution and working capital management.
Order intake was NOK 2,046 million, with a solid order backlog of NOK 8,926 million and a book-to-bill ratio of 1.2x.
Final claim of NOK 566 million submitted to Bane NOR, with negotiations set for Q3.
Financial highlights
Revenue for Q2 2026 was NOK 1,704 million, slightly down from NOK 1,763 million in Q2 2025.
EBIT was NOK 61 million, in line with last year, despite the NOK 71 million one-off charge.
EBIT margin improved to 3.6% from 3.4% year-over-year.
Net profit for Q2 2026 was NOK 16 million, down from NOK 31 million in Q2 2025.
Operating cash flow increased to NOK 180 million from NOK 83 million year-over-year.
Outlook and guidance
Linear profit margin improvement targeted towards 2028, with revenue guidance of ~NOK 7.5 billion in 2026 and >NOK 10 billion in 2028.
EBIT margin target set at >3.0% for 2026 and >5.0% for 2028.
Book-to-bill expected to exceed 1.0x LTM after Q2.
Second wave of light rail projects in Finland secured, with production mainly from 2027 onwards.
Dividend ambition is to distribute at least 30% of annual profit.
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Latest events from NRC Group
- Record cash flow and Sweden break-even underpin 2024 profitable-growth outlook.NRC
Q4 2023 - Q1 2026 saw stable results, strong backlog, and growth expected in H2 2026.NRCQ1 2026
- Profitability and cash flow surged in 2025, with a robust order backlog driving future growth.NRCQ4 2025
- EBIT and margins improved in Q3 2025, with strong backlog and positive outlook for 2025-26.NRCQ3 2025
- Profitability and margins improved in Q2 2025, supported by a strong order backlog.NRCQ2 2025
- Revenue rose but losses and restructuring continued; equity raise supports recovery.NRCQ3 2024
- Major project write-downs and impairments drive deep Q2 losses; recovery plan in progress.NRCQ2 2024
- Record order backlog and improved EBIT margin support a strong 2025 outlook.NRCQ1 2025
- Order intake rose NOK 1 billion as margin recovery and growth are targeted for 2025.NRCQ4 2024
Next NRC Group earnings date
Q3 & CMD 20265 Nov, 2026
NRC Group
Next NRC Group earnings date
Q3 & CMD 20265 Nov, 2026
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Frequently asked questions
NRC Group ASA engages in the infrastructure business in Norway, Sweden, and Finland. It operates through two segments, NRC Construction and NRC Production. The NRC Construction segment provides construction and installation of electrical infrastructure, like power plants, ducts, and poles; construction of pipelines related to industrial production processes; and construction and installation of mining support structures such as mining buildings, access roads, ventilation systems, shaftwork and pumping facilities. The NRC Production segment is involved in the production of steel products and offers services related to steel processing. The company is also involved in industrial property development projects.