Salmar Shares Fall in Oslo as Quarterly Earnings Miss Estimates
Salmar ASA (SALM) declined 5 percent in Oslo trading after reporting second-quarter earnings that missed analysts’ estimates.
Salmar reported a second-quarter operating profit before fair value of adjustment of the biomass of 112 million kroner ($20 million), 38 percent below First Securities estimates.
“The weak report will on an isolated basis naturally have a negative impact on the share today,” analyst Henning Steffenrud wrote in an e-mailed note to clients.
Nordea Markets analyst Kolbjoern Giskeoedegaard said in a report that Kverva-based Salmar delivered a “negative” report, “especially disappointing in the important central Norway region.”
Before today, Salmar shares had lost 35 percent this year, after two straight years of gains.
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