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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.

To contact the editor responsible for this story: Meera Bhatia at mbhatia2@bloomberg.net

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