Norsk Hydro stock heads toward October results as EBITDA rises 2 percent

Published on 09/28/2026 at 13:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Norsk Hydro stock was at NOK 82.16 on September 28, 2026, with a 52-week range of NOK 66.44 to NOK 120.40. Q2 adjusted EBITDA rose 2 percent to NOK 8.9 billion.

Norsk Hydro, NO0005052605, Illustration mit AI erstellt.

Norsk Hydro stock (ISIN NO0005052605) was trading at NOK 82.16 on Oslo Bors on September 28, 2026, down 0.27 percent from the prior close. The next major checkpoint is October 23, 2026, when Norsk Hydro is scheduled to publish its third-quarter results at 7:00 a.m. CEST, as Yahoo Finance reported on September 23, 2026.

Q2 EBITDA reached NOK 8.9 billion

The latest reported quarter gives the stock a stronger operating reference point. According to ScanX News on September 21, 2026, second-quarter adjusted EBITDA increased 2 percent year over year to NOK 8.9 billion. Revenue rose 6 percent to NOK 56.5 billion, and free cash flow reached NOK 4.0 billion.

The earnings mix matters. Adjusted net income rose to NOK 4.6 billion from NOK 3.6 billion in Q2 2025, a 27.8 percent increase, while adjusted earnings per share advanced to NOK 2.21 from NOK 1.68, according to ScanX News. Aluminium Metal adjusted EBITDA rose to NOK 6.4 billion from NOK 2.4 billion, but Bauxite and Alumina adjusted EBITDA fell to NOK 550 million from NOK 1.5 billion.

RBC cuts target to NOK 100

Analyst caution remains part of the valuation picture. MarketScreener reported on September 16, 2026, that RBC downgraded Norsk Hydro to Sector Perform from Outperform and reduced its price target from NOK 120.00 to NOK 100.00. The new target was 21.71 percent above the NOK 82.16 intraday price.

That target change creates a clear counterweight to the Q2 improvement: operating earnings strengthened, while the rating move signals a more measured view of the path ahead. The October report will show whether aluminum pricing and the segment mix can sustain the second-quarter progress.

Norsk Hydro stock trades below its yearly high

Norsk Hydro stock was trading at NOK 82.16 on Oslo Bors at 1:19 p.m. CEST on September 28, 2026. The 52-week range was NOK 66.44 to NOK 120.40, with market capitalization of NOK 161.5 billion and volume of 434,021 shares.