Results: SalMar ASA Beat Earnings Expectations And Analysts Now Have New Forecasts

As you might know, SalMar ASA (OB:SALM) recently reported its quarterly numbers. Revenues missed the mark, coming in 11% below forecasts, at kr8.7b. Statutory profits were a real bright spot in contrast, with per-share profits of kr10.20 being a notable 60% above what the analysts were modelling. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there’s been a strong change in the company’s prospects, or if it’s business as usual. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

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Following the latest results, SalMar’s ten analysts are now forecasting revenues of kr36.8b in 2027. This would be a solid 19% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to surge 52% to kr36.68. In the lead-up to this report, the analysts had been modelling revenues of kr36.9b and earnings per share (EPS) of kr37.01 in 2027. The consensus analysts don’t seem to have seen anything in these results that would have changed their view on the business, given there’s been no major change to their estimates.

Check out our latest analysis for SalMar

The analysts reconfirmed their price target of kr616, showing that the business is executing well and in line with expectations. The consensus price target is just an average of individual analyst targets, so – it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on SalMar, with the most bullish analyst valuing it at kr700 and the most bearish at kr535 per share. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. It’s clear from the latest estimates that SalMar’s rate of growth is expected to accelerate meaningfully, with the forecast 15% annualised revenue growth to the end of 2027 noticeably faster than its historical growth of 12% p.a. over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 7.3% per year. Factoring in the forecast acceleration in revenue, it’s pretty clear that SalMar is expected to grow much faster than its industry.

The Bottom Line

The most important thing to take away is that there’s been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. The consensus price target held steady at kr616, with the latest estimates not enough to have an impact on their price targets.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year’s earnings. We have forecasts for SalMar going out to 2028, and you can see them free on our platform here.

Plus, you should also learn about the 1 warning sign we’ve spotted with SalMar .

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