Land-based turbot and sole producer Stolt Sea Farm reported increased revenue in Q3 2026 but saw a lower profit due to a fair value adjustment hit.
Stolt Sea Farm posted revenue of USD 40.6 million (EUR 36.1 million) in Q3 2026, an increase over the USD 39.5 million (EUR 35.2 million) it posted in the same period of 2025. Despite that increase, gross profit dropped heavily due to a fair value adjustment, which resulted in a loss of USD 3.1 million (EUR 2.8 million) compared to a gain of USD 6.7 million (EUR 5.9 million) it posted last year. Operating profit also dopped in Q3 2026, reaching USD 8.4 million (EUR 7.5 million), down from the USD 18.6 million (EUR 16.5 million) the company posted in Q3 2025.
Much of the decline is due to the fair value adjustment. When that is excluded from the results, the company’s gross profit climbs to USD 16.2 million (EUR 14.4 million) in Q3 2026, a slight improvement over the USD 16 million (EUR 14.2 million) it posted in the same period of 2025.
The company said that its operational performance was otherwise “broadly stable” year over year and that the drop was largely driven by the “negative swing in the fair value adjustment of biomass.”
Stolt Sea Farm recently inaugurated a new sole hatchery in Galicia, Spain, a facility it announced in 2023.
