Fortum stock reports softer Q2 profit before October 28 results

Published on 10/05/2026 at 14:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fortum stock posted EUR 106 million in comparable operating profit in Q2 2026, while UBS raised its target to EUR 24.50 from EUR 14.60. The next report is due October 28.

Photorealistic nordic hydropower dam at frozen lake under polar twilight sky with snow-covered conifers — Fortum FI0009007132 nordisches Wasserkraftwerk an verschneitem See bei polarer Dämmerung mit Spiegelung, Illustration mit AI erstellt.

Fortum stock (ISIN FI0009007132) was trading at EUR 23.61 on Nasdaq Helsinki on October 5, 2026, with a market capitalization of EUR 21.2 billion. The latest reported quarter brought EUR 106 million in comparable operating profit and EUR 0.08 in comparable earnings per share, according to Investing.com in its October 2, 2026 report on Fortum's Q2 2026 results.

Q2 profit sets the baseline

Fortum's comparable operating profit in Q2 2026 stood at EUR 106 million, while comparable earnings per share fell to EUR 0.08 from EUR 0.09. The same report put operating cash flow at EUR 324 million, up from EUR 203 million in the comparison period, giving cash generation a stronger profile than the earnings figure alone suggests.

The quarter also carried a clear operational constraint. Fortum reduced its 2026 nuclear output guidance to 23 TWh to 23.5 TWh from 23.5 TWh to 24 TWh, according to Investing.com. That narrower output outlook matters because generation volumes and achieved power prices directly shape the earnings mix.

UBS target reaches EUR 24.50

UBS raised its Fortum rating from Sell to Neutral and lifted its price target from EUR 14.60 to EUR 24.50 on October 2, 2026, as reported by Investing.com. The bank linked the change to a 4 TWh power purchase agreement with Google and included potential additional agreements totaling 11 TWh in its valuation.

MarketScreener lists an Underperform consensus for Fortum based on 18 analysts, with an average target of EUR 17.97, according to MarketScreener. The gap between that consensus and the UBS view highlights how strongly the Google agreement has split valuation assumptions.

October 28 is the next checkpoint

Fortum's Q3 2026 interim report is scheduled for October 28, 2026, according to Affärsvärlden. The date gives investors a defined checkpoint for testing whether cash flow strength can offset the softer comparable profit and lower nuclear output guidance.

Fortum stock stays below its yearly high

Fortum stock was last at EUR 23.61 on Nasdaq Helsinki on October 5, 2026, at 3:48 p.m. EEST, down 0.04 percent on the session. The price stood EUR 2.23 below the 52-week high of EUR 25.84, a gap of 8.63 percent, while the 52-week low was EUR 16.11 and trading volume reached 171,404 shares.