Cautious Reassurance from Orsted Amid Weak Q3

3 months ago

Louise Moon

"So, from those uh moves on Nova Nordisk, we turn to Ored in Copenhagen. Shares up two and a half%. >> Indeed. Yeah. They've confirmed their fullear profit guidance essentially trying to reassure investors. So, they'd slashed their annual guidance in in September and they also had quite a weak third quarter today. So, for example, they took a chunky net charge linked to US tariffs. That was about 277 million US uh and and they've also, you know, there's there's been reports that we've spoken about before of halting a project near uh off and near Rhode Island and they're trying to deliver quite a turnaround essentially. So they're saying that their portfolio of projects is progressing on schedule as part of that kind of reassurance today and the CEO is really trying to signal a return to normality despite a lot of their ambitions in the US um uh hitting some hurdles hitting some roadblocks. There was an interesting quote from one of our analysts saying that although today's results were weak, uh the numbers will kind of be of less interest to investors and and the broader context and regulatory developments in the US is is a bit more of a driver of their share price at the moment."

The commentary on Orsted highlights mixed results, noting weak Q3 performance and a significant net charge, balanced by a reassuring message from management about project progress and a return to normality. The overall tone suggests cautious optimism.