Mowi stock posts record Q2 revenue as guidance trims volume outlook
Published on 08/18/2026 at 15:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Mowi (ISIN NO0003054108) reported record operational performance for the second quarter of 2026 on August 18, 2026, with revenue reaching EUR 1.6 billion and operational EBIT rising to EUR 231 million, while also modestly lowering its full-year harvest volume guidance following the planned divestment of its Canada East operations. Per an earnings summary published on August 18, 2026, underlying earnings per share came in at EUR 0.28 for the quarter, exceeding a pre-results earnings consensus and highlighting improved profitability per share.
Record Q2 revenue and profit metrics
According to a company news release dated August 18, 2026, Mowi generated record-high revenues of EUR 1.6 billion in the second quarter of 2026, supported by strong salmon demand and higher harvested volumes. The same release stated that operational EBIT reached EUR 231 million in the quarter, illustrating a substantial increase in operating profitability compared to the prior year period.
A detailed earnings overview on August 18, 2026, noted that Mowi achieved record harvest volumes of 150,000 GWT in the second quarter of 2026, up 13 percent from the previous year, while also reducing its realized weighted farming cost by 3.5 percent to EUR 5.20 per kilogram. The same report highlighted that operational EBIT of EUR 231 million represented a 23 percent year-over-year increase, underscoring how higher volumes and lower unit costs more than offset a relatively modest 6 percent rise in salmon spot prices.
Additional coverage of the results on August 18, 2026, indicated that underlying earnings per share rose to EUR 0.28 in the second quarter of 2026 from EUR 0.25 a year earlier, beating an earnings consensus figure of EUR 0.26 per share. This article also described how a loss of EUR 165.7 million for the quarter, compared with a EUR 41.5 million profit a year earlier, was driven by a significant biomass writedown that offset the stronger underlying salmon operations.
Guidance, debt and dividend policy
In its August 18, 2026 presentation for the second quarter of 2026, Mowi confirmed that it reduced its full-year 2026 harvest volume guidance to 600,000 GWT, down from a prior target of 605,000 GWT, reflecting the planned sale of 9,000 GWT of salmon farming operations in Canada East. The same presentation noted that despite this adjustment, the revised guidance still implies year-over-year harvest growth of 7.4 percent in 2026, and management reiterated a volume ambition of more than 650,000 GWT by 2029.
The second quarter 2026 overview pointed out that Mowi maintained a solid balance sheet, with net interest-bearing debt reported at EUR 2.81 billion and an equity ratio of 43.2 percent as of the end of the quarter. The same coverage suggested that this capital structure gives the company flexibility to continue investing in organic growth and postsmolt capacity while funding shareholder distributions.
A separate notice on August 18, 2026, reported that the board of directors resolved on August 17, 2026, to distribute a quarterly cash dividend of NOK 2.30 per share to Mowi shareholders. The dividend announcement underscored the company’s continued focus on returning capital to shareholders, complementing the earnings growth achieved in the latest quarter.
Strategic shift with Canada East divestment
An August 18, 2026 news summary on the quarter noted that Mowi entered into a sale and purchase agreement to divest its Canada East operations, representing 9,000 GWT of harvest volume, for a purchase price of CAD 225 million, equivalent to EUR 139 million. The same account indicated that this transaction allows Mowi to reallocate capital and management attention toward higher-return regions such as Canada West and other core farming areas, while still targeting growth in total volumes over the medium term.
A summary of the second quarter 2026 audio transcript emphasized that record revenue and operational profit were achieved despite softer salmon prices, driven by strong volumes, cost reductions, and robust demand in key markets. The same summary also highlighted that the Canada East divestment and ongoing investments in postsmolt capacity are central to Mowi’s plan to maintain stable unit costs while increasing total harvest volumes by 2029.
Mowi stock performance and valuation context
A market-data overview on August 18, 2026, showed Mowi shares quoted at NOK 203.90 on the Oslo Stock Exchange at the close of trading on August 17, 2026, with the price unchanged on the day but 1.39 percent higher year to date and 15.92 percent below its level at the start of the year. This snapshot places the stock mid-range within its recent trading history, contextualizing the post-earnings reaction.
In addition, a US-focused listing overview dated August 18, 2026, indicated that the Mowi American depositary receipts, traded under the symbol MHGVY, closed a recent session at $21.43 and were later cited at $21.25, with the price down 0.84 percent on the day. The same overview described the ADR as sitting within its one-year range, providing an additional valuation reference point for investors cross-checking the Oslo listing with the US-traded instrument.
A separate valuation-focused article on August 18, 2026, stated that the GF Value estimate for Mowi stood at $22.43, compared with a contemporaneous price of $21.25, implying that the shares were 5.3 percent below that intrinsic value estimate. The same piece pointed out that this modest discount aligns with a view that Mowi’s combination of growing harvest volumes, improving cost efficiency, and consistent dividends could support a higher fair-value range over time, though such assessments remain subject to market risk and earnings execution.
Representative product: farmed Atlantic salmon
Mowi’s core business centers on the farming, processing, and sale of Atlantic salmon, which is sold globally as fresh and frozen fillets, whole fish, and value-added products. The company’s second quarter 2026 results presentation emphasized that higher volumes of harvested salmon, particularly from Norway and the Americas, were a primary driver of the record revenue and operational EBIT figures reported on August 18, 2026. By focusing on scale, biological performance, and cost efficiency in salmon farming, Mowi aims to support its medium-term target of more than 650,000 GWT in annual harvest volumes by 2029 while maintaining competitive unit costs.
Mowi stock and investor takeaway
Mowi shares on the Oslo Stock Exchange last closed at NOK 203.90 on August 17, 2026, with the stock up 1.39 percent year to date but still 15.92 percent below its starting level for 2026, as shown in a market-data snapshot published on August 18, 2026. For investors, the combination of record second quarter 2026 revenue of EUR 1.6 billion, operational EBIT up 23 percent year over year to EUR 231 million, a quarterly dividend of NOK 2.30 per share, and a modest trim to 2026 harvest volume guidance to 600,000 GWT frames the current Mowi stock story as one of growth balanced with disciplined capital allocation.
Fact box
Company: Mowi ASA
ISIN: NO0003054108
Ticker: MOWI
Exchange: Oslo Stock Exchange
Price (as of August 17, 2026, 4:20 p.m. ET): NOK 203.90
Market cap: Not specified in current sources
Sector / Industry: Consumer Staples / Packaged Foods and Meats
Index membership: Not specified in current sources
