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    What Lerøy Seafood Group (OB:LSG)'s Q2 2026 Production Mix Shift Means For Shareholders

    Simply Wall St·07/13/2026 19:33:27
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    • Lerøy Seafood Group ASA has released its second-quarter 2026 production results, reporting harvested salmon and trout volumes of 44,750 GWT, down from 48,900 GWT a year earlier, while Lerøy Havfisk’s total catch rose to 18.8 thousand tonnes, including 1.5 thousand tonnes of cod.
    • This mix of lower farmed salmon and trout harvests alongside higher wild-catch volumes highlights a shifting production balance across Lerøy’s value chain.
    • We’ll now examine how the reduced salmon and trout harvest volumes may influence Lerøy Seafood Group’s broader investment narrative and outlook.

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    Lerøy Seafood Group Investment Narrative Recap

    Lerøy Seafood Group’s story still hinges on its ability to turn a diversified value chain of farmed salmon, trout and wild catch into consistent earnings. The slightly lower Q2 2026 salmon and trout harvest, alongside a higher Havfisk catch, does not materially change that near term. The key short term catalyst remains improving profitability after weaker recent margins, while the biggest current risk is that biological and cost pressures keep farming EBIT per kilo under strain for longer.

    Against this backdrop, the Q1 2026 earnings release is useful context. Lerøy reported sales of NOK 8,083.41 million and net income of NOK 288.44 million, a return to profit compared with a loss a year earlier. When read together with Q2’s softer salmon and trout volumes, this highlights how quickly quarterly results can shift, and why progress on cost control and value added processing remains central to the investment case.

    Yet beneath this improving mix, investors should still be aware of the risk that persistent cost inflation and biological issues could...

    Read the full narrative on Lerøy Seafood Group (it's free!)

    Lerøy Seafood Group's narrative projects NOK41.5 billion revenue and NOK4.0 billion earnings by 2029. This requires 6.3% yearly revenue growth and a NOK3.0 billion earnings increase from NOK1.0 billion today.

    Uncover how Lerøy Seafood Group's forecasts yield a NOK52.50 fair value, a 33% upside to its current price.

    Exploring Other Perspectives

    OB:LSG 1-Year Stock Price Chart
    OB:LSG 1-Year Stock Price Chart

    Some of the lowest ranked analysts were already cautious, assuming revenues of about NOK 46.5 billion and earnings of roughly NOK 3.2 billion by 2029, and Q2’s softer farmed volumes may reinforce their worry that climate driven biological risks could keep farming costs higher for longer, so it is worth comparing these more pessimistic views with your own expectations.

    Explore 2 other fair value estimates on Lerøy Seafood Group - why the stock might be worth just NOK52.50!

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.