Finance

Aluminium producer Norsk Hydro's Q1 core profit beats forecasts

Published by Global Banking & Finance Review

Posted on April 29, 2026

1 min read

· Last updated: April 29, 2026

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Aluminium producer Norsk Hydro's Q1 core profit beats forecasts

Aluminium producer Norsk Hydro's core profit beats forecasts in Q1

Norsk Hydro Q1 2024 Financial Performance Overview

Quarterly Core Profit Exceeds Expectations

April 29 (Reuters) - Norwegian aluminium producer Norsk Hydro reported a bigger-than-expected quarterly core profit on Wednesday, as higher metal prices and volumes offset weaker alumina prices, a stronger crown and lower power output.

Adjusted Earnings and Analyst Forecasts

Adjusted earnings before interest, taxes, depreciation and amortisation fell to 8.67 billion Norwegian crowns ($930.1 million) in the January-March quarter, from 9.52 billion crowns a year ago.

However, analysts on average had expected it to report a core profit of 7.13 billion crowns, a company-compiled consensus poll showed.

Market Dynamics and External Influences

The Iran war is exposing how reliant Western aluminium buyers remain on Gulf supply, as disrupted exports and rising premiums tighten an already strained market with limited replacement metal.

Additional Information

($1 = 9.3219 Norwegian crowns)

(Reporting by Jesus Calero and Alexander Klyve Gudbrandsen, editing by Milla Nissi-Prussak)

Key Takeaways

  • Higher aluminium prices and increased volumes supported core profit growth despite weaker alumina prices and currency and power headwinds (brecorder.com)
  • Q1 adjusted EBITDA rose to NOK 9.52 billion, up from NOK 5.41 billion a year earlier, narrowly beating consensus estimates (brecorder.com)
  • Downstream Extrusions segment faces challenges amid soft demand, though upstream metal and alumina operations provided resilience (hydro.com)

References

Frequently Asked Questions

What was the main reason for Norsk Hydro's Q1 profit increase?
Higher metal prices and increased sales volumes drove Norsk Hydro’s Q1 profit increase.
What factors offset Norsk Hydro's Q1 profit growth?
Weaker alumina prices, a stronger Norwegian crown, and lower power output partially offset profit growth.
When did Norsk Hydro report its Q1 earnings?
Norsk Hydro reported its Q1 core profit on April 29.

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