Austevoll shares dip as unit Lerøy's Q3 miss weighs
** Shares in Lerøy Seafood LSG.OLand Austevoll Seafood AUSS.OL fall 6% and 5%, respectively, after the Norwegian fishing companies posted quarterly results below expectations
** Pareto Securities analyst notes that Q3 was a strong quarter for Austevoll's pelagic legs with estimates beat across most segments, "but not sufficient to offset a weaker result in Lerøy Seafood Group (LSG) and Br Birkeland"
** Herman Aleksander Dahl from Nordea attributes the miss purely to LSG delivering behind expectations
** Austevoll, the majority shareholder in LSG, reported Q3 adj. EBITDA of NOK 1,192 mln, below consensus cited by Pareto of NOK 1,300 million
** LSG delivered operational EBIT of NOK 412 mln in the quarter, 26% below consensus, Pareto notes, hit by Sjøtroll farming segment which struggleswith lower price realization and higher costs
** Austevoll shares track their worst day in 12 months, while LSG is on course for its worst day since May 2024
($1 = 11.1325 Norwegian crowns)
Reporting by Agnieszka Olenska
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